Today, Tilray announced plans to invest up to €20 million (CAD$29 million) in a European Union Campus (EU Campus) after receiving licences from the Government of Portugal to import cannabis genetics and to cultivate cannabis for medical purposes.
“Tilray’s EU Campus is another strategic milestone as we aim to build the world’s most trusted and admired medical cannabis brand,” said Brendan Kennedy, Chief Executive Officer of Tilray. “For the past two years we’ve been working hard to find the right location for cultivation, processing, and research facilities to serve rapidly growing demand for high-quality medical cannabis products in Europe. Portugal has the ideal climate to cultivate cannabis, a highly skilled health care workforce, and a vibrant research community. It’s more environmentally-friendly and cost-effective to supply European patients from Portugal than from northern climates.”
The EU Campus will include indoor, outdoor, and greenhouse cultivation sites, as well as facilities to process, package, and distribute medical cannabis and cannabinoid-derived medical products. As a part of the BIOCANT biotechnology and life sciences research park, the EU Campus will serve as a hub supporting Tilray’s clinical research and product development efforts across Europe.
Tilray is currently leasing laboratory and indoor cultivation space within BIOCANT. This month, Tilray will begin construction on a greenhouse and a processing facility on property purchased by the company. Phase one of the project, which is expected to be complete by spring of 2018, includes an indoor laboratory and genetics bank, outdoor cultivation sites, a 10,000 m2 greenhouse, and a 1,500 m2 processing facility. Subsequent phases, which are expected to be completed by 2020, will add 15,000 m2 of greenhouse cultivation space and another 1,500 m2 for processing. Over the next three years, the project is expected to create 100 direct jobs, including highly skilled positions.
By the end of 2017, Tilray expects to export medical cannabis products to five more countries. The company also anticipates announcing federal licences from additional countries, as well as research partnerships in Portugal, Germany, and other countries around the world.