- HTC Extraction Systems is turning its distillation technology prowess toward hemp biomass refining for the cannabidiol (CBD) product market
- The company recently reported third quarter financial results showing a year-over-year revenue increase of more than 2.5 times largely due to agri-infrastructure operations, but expects to see new and greater growth as its CBD production takes shape
- The company has completed construction on a 19,000-square-foot facility near Regina, Saskatchewan that will house its quality-assurance testing and product-development laboratories as well as its extraction and formulation-processing operations
- HTC has also recently acquired California-based Kase Farma Inc., an extraction and formulation company in the United States that is currently expanding and upgrading its extraction, refining and processing operations
Saskatchewan, Canada-based HTC Extraction Systems (TSX.V: HTC) saw its revenues grow by more than 2.5 times in year-over-year third-quarter financial results that were reported recently on the heels of news the proprietary extraction systems innovator is expanding its fledgling cannabinoid refining operations from Canada to the U.S. market in California.
HTC’s revenues grew from $1.3 million at the September close of the quarter in 2018 to $3.3 million at the quarter’s end this year, according to the…
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