Breedco will be the company in charge of producing the seeds and dried cannabis flowers that will travel the world
December 19, 2021
Medical cannabis industry in Colombia seeks approval of the decree for export. Reference image.
The department of Valle del Cauca will be an exporter of seeds and dried flower of medicinal cannabis. This was announced by ProColombia, an entity that also reported that among the recipient countries are the United Kingdom, Canada, South Africa, Australia, the United States, as well as several countries in Europe and Latin America.
The company that achieved the milestone is called Breedco, which after its participation in the Colombia Investment Summit of 2020, concretized a rapprochement with the American company Kinetiq Group, which partnered with the Colombian company to leverage with financing and knowledge, the expansion and internationalization of the medical cannabis producer.
According to information from ProColombia, Kinetiq Group is a U.S. full-service financial advisory and business development company, with a presence in the United States, Colombia and the Netherlands. It aims to provide clients and investors with commercial and industrial knowledge, financial and real estate solutions focusing on innovation, sustainability and impact for EdTech, medical cannabis, ecosystems and internationalization initiatives.
“Colombia is a strategic entry point to Latin America, thanks to its positive business environment, overall stability and diversity of talented professionals. From Colombia, Kinetiq operates service activities in markets such as Mexico, Panama, Peru, Ecuador, Argentina and Chile thanks to connectivity through ports and airports with international connectivity,” said Ken Grams, CEO and founder of Kinetiq.
In this sense, Breedco has managed to constitute an international team of experts, from the United States and the United Kingdom, who together with the Colombian national talent guarantee the sustainability and viability of the company in all fields: banking, cultivation, intellectual property, logistics, agreements and international sales, among others.
Thus, its investment in consolidation has been US$1.7 million and from the hand of Kinetiq it will receive an additional US$1 million. Also, in the next two years it will have another reinvestment in the industry to strengthen marketing activities abroad.
“In its internationalization phase, Breedco chose the United Kingdom as a collection center to serve European customers, while Kinetiq will be exclusively responsible for sales in the United States,” procolombia reported.
It should be said that the projections for the next three years of the company are:
-By 2022, the company that has its production in the municipality of Vijes, located in Valle del Cauca, estimates a production capacity of 2.2 million seeds.
-By 2023, it is expected to increase the volume to 3 million seeds and more than 1.1 tons of dried flower, which would represent jointly and more than US$7 million in sales, in that year.
By 2024 it is estimated at almost 4 million seeds and 1.3 tons of dried flowers with increased expansion capacities, as Kinetiq strives to consolidate strategic relationships in the United States, and strengthening Breedco’s subsidiary in the United Kingdom, through Kinetiq’s subsidiary located in the Netherlands.
Likewise, with this strategic alliance, the estimated impact (direct and indirect) is expected to reach more than 100 jobs.
It should be said that Breedco and Kinetiq have had the support of Invest Pacific and ProColombia, both in the splicing and in the export process, linking companies with the regulatory entities of the different markets and countries of destination.
“From Invest Pacific we are very happy to accompany Breedco on its arrival in Valle del Cauca, a medical cannabis company that supports sustainable development with its operation in the municipality of Vijes. Now with its expansion in the region, together with Kinetiq Group, we will continue to work hand in hand to generate more formal jobs and enrich our business fabric,” says Alejandro Ossa, CEO of Invest Pacific.
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