Eco Innovation’s Next-Gen Cannabis Extraction Technology on Track for Full Commercial Launch as U.S. House Considers Federal Cannabis Legalization5 min read
VAN NUYS, Calif., March 30, 2022 /PRNewswire/ — Eco Innovation Group, Inc. (OTC: ECOX) (“ECOX” or the “Corporation”), an modern enterprise building new eco-friendly electrical power answers, is delighted to update present-day and potential shareholders as the Firm’s supercritical Glycerin Extraction Technology (“GET”), an advanced cannabis extraction process, advancements by means of the United States Patent and Trademark Business office (USPTO) even though a critical monthly bill contemplating federal legalization of cannabis heads toward a vote in the United States Household of Reps this week.
As introduced by the Enterprise in its launch dated March 17, 2022, Eco Innovation Team just lately been given a Discover of Allowance from the USPTO for its patent masking techniques of extraction of plant supplies acquired making use of the GET program, which has been completely licensed to ECOX by Glytech, LLC (“Glytech”).
“The GET system is an improve of the technology horizon for creating excellent higher-grade plant extracts with a provable reduction in expenses, as very well as time and power, throughout the extraction method, which has great implications for the cannabis goods marketplace,” stated Julia Otey-Raudes, CEO of Eco Innovation Team. “As we transfer towards whole IP defense to accompany our exceptional license legal rights for this subsequent-era extraction technological know-how, we feel legislative momentum is a tailwind for the cannabis market, and we applaud lawmakers who are supporting to drive development and provide for more equity and better entry.”
The Marijuana Possibility, Reinvestment and Expungement Act (the “Additional Act”) is a invoice sponsored by Home Judiciary Committee Chairman Jerrold Nadler (D-NY) that is up for a vote to crystal clear the United States Residence of Representatives as early as this 7 days. The bill in essence aims to take away hashish from the listing of federally managed substances, which could open up the door for real federal legalization of hashish in the United States. On the other hand, the monthly bill would not need states to legalize cannabis but would leave regulatory discretion up to states.
At the exact time, the Secure and Good Enforcement (Harmless) Banking Act (H.R. 1996), sponsored by Rep. Ed Perlmutter (D-CO), is now up for consideration in the Senate with a version that was reintroduced on March 23, 2021, and is sponsored by Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT), with 180 present-day cosponsors. The Risk-free Banking Act would build protections for fiscal institutions that offer fiscal expert services to point out-lawful cannabis corporations, offering little and minority-owned cannabis organizations accessibility to banking institutions and controlled economical products and services.
Management sights these actions as vital methods in leveling the enjoying industry for individuals and companies as the GET system moves toward professional launch, which is now prepared for Q4 2022 or early 2023.
The GET system’s plant extraction strategy promises to decrease squander from vaping cannabis and to offer greater standardization of extracts in goods. In contrast to present-day technology in the market, this technologies utilizes a non-CO2 solvent and cofactors to extract chosen bioactive compounds from plant resources. The end result is an extracted fluid excellent in viscosity to the output of present-day CO2-dependent extraction solutions, when streamlining time, vitality, and capital prices.
The GET technique was protected by Chemical Engineering journal previous 12 months.
Otey-Raudes additional, “This engineering – our distinctive technological innovation – guarantees to travel greater yields with better source performance while developing much more steady, standardizable concentrations of goal compounds. This consistency is a massive factor. It signifies clients stand to get merchandise with the very same potency each and every time, which is not the situation with present-day techniques in use these days, including supercritical CO2. We expect this engineering will produce decreased overhead expenditures to producers even though developing improved in general yields and increased buyer satisfaction. In a maturing sector with increasing access, this is paramount.”
About Eco Innovation Group
Eco Innovation Team was launched by Inventors and Company Specialists to support nurture and catalyze the most innovative and impactful products and solutions, and to provide individuals improvements to the world, bettering the excellent of existence in our communities and the entire world about us, though offering worth to our shareholders.
At ECOX, we are committed to acquiring and commercializing productive items. But we will never ever lose sight of the truth that we exist, initially and foremost, to aid people today and improve lifetime on the earth we all share. We consider our Social Accountability Agreement seriously in all our endeavors. It is not only what we do. It is who we are. For extra info, pay a visit to www.ecoig.com.
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