Israeli medical cannabis cultivation technology company MedicannX announced today that it has raised NIS 70 million from Darwin Real Estate and Investments. The company also said that it is investing in a production plant in Tirat Hacarmel, using innovative technology.
The company uses an aeroponic cultivation method - cannabis cultivation in the air based on oxygen use. The automated aeroponic cultivation system is at a height of four meters, with the cannabis grown and monitored in unique growing rooms, which are controlled by climate systems developed especially for the company, independent of the weather outside.
The company explains that the uniform growing conditions enable uniformity in the quality of the products, and that the system utilizes spraying of recycled water, with fertilizer added, on the roots of the plants, without use of pesticides. The aeroponic greenhouses make it possible to speed up the cannabis cultivation process.
MedicannX was founded in 2020 by CEO Vitali Binyaminov. This year the company began marketing its products to 190 pharmacies and according to Binyaminov marketing operations are set to expand. He tells "Globes," "The company is currently in a stage of market penetration. In the coming months, we will also begin to market medical cannabis oil products." He also stresses that MedicannX is the only company in the world growing medical cannabis using the aeroponic method.
MedicannX’s nursery comprises 16 monitoring units, with each unit containing four cells along its length with plants in four-meter long tiered columns. Each unit can cultivate up to 1,600 plants. Growth control is conducted using AI-based sensors in each unit and in the greenhouse itself, allowing full control of cultivation conditions.
Published by Globes, Israel business news - en.globes.co.il - on July 28, 2024.
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