CGT Closes $5M Sale of HempTrain™ Manufacturing & Distribution License for South Africa
CALGARY, Canada, July 26, 2021- Canadian Greenfield Technologies Corp. (“CGT” or the company), developer and provider of the state-of-the-art HempTrain™ Advanced Processing System, is pleased to announce the sale of a HempTrain™ Technology & Business License to Quattro-Canna Holdings (Pty) Ltd, (“Quattro”), a Johannesburg-based company in South Africa. HempTrain™ Technology & Business Licenses allow the License Holders to manufacture and distribute HempTrain™ technology & equipment within their delineated territories.
The USD$5.35M, royalty-free license covers South Africa, where the hemp industry initiative is rapidly gaining strength. CGT will provide technical support to Quattro in establishing the base for growing the HempTrain™ business.
“We are very excited to enter a large, new market for HempTrain™. Our growing success with commercial HempTrain™ operations, producing unprecedented, high value, high volume, and high demand hemp products, has led to this tremendous opportunity for us to be a part of building the new hemp industry on the African continent. CGT remains the world leader in hemp products & technologies manufacturing, offering for sale and/or licensing the world’s only technologies for making, or leading to, high value products such as NForce-Fiber®, Hemp-Fresco™, Hemp-Pak™ and many others.” said Stephen Christensen, Vice President of Canadian Greenfield Technologies Corp.
Quattro intends to manufacture and install HempTrain™ facilities, with an estimated 280 HempTrain™ installations required to satisfy future market demand, in the licensed territory.
The License includes a state-of-the-art, fully upgraded HempTrain™ installation - the first HempTrain™ on the continent. The general scope of CGT’s HempTrain™ Manufacturing Licenses is available on the company’s website.
The endeavor is supported by the Government of South Africa and is facilitated by the Canadian Trade Commissioner.
CGT is in various stages of numerous HempTrain™ agreements, to be announced later.
About Canadian Greenfield Technologies Corp.
CGT is an award-winning Calgary-based engineering & manufacturing company specializing in hemp products and processing technologies. An off-shoot of an international-award winning industry group in business since 1987, CGT is an industry leader with unparalleled expertise in hemp processing and the only supplier of complete whole plant hemp processing facilities in North America, having developed, designed, engineered, and manufactured the state-of-the-art HempTrain™ Advanced Processing Plant.
CGT's operations are structured into two divisions: The HempTrain™ Division, involved in manufacture of HempTrain™ technology for open market, and a Hemp Products Division, involved in the manufacture of hemp products, including HempAlta™ branded products and the ASTM/CSA-compliant NForce-Fiber™, using company’s own HempTrain™ facilities.
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