Cannabis Company Opens Genomics Lab to Compete in the $4.9 Billion Global Chemicals Market
Kush Bottles, Inc. (OTCQB: KSHB), a provider of packaging, supplies, accessories and branding solutions for the regulated cannabis industry, announced today the opening of a new Product Development and Gemomics Lab to produce commercial terpenes. The lab will be located in San Diego, the biotech capital of the world.
The company has appointed Wayne Green as Director of Science & Innovation. In this role, Green will oversee development of terpene-based products for commercial and medical use, as well as direct TerpsOnTerps.com, Kush Bottles’ online terpene marketplace.
According to a market study released by Technavio, the global aroma chemicals market is expected to reach $4.968 billion by 2021.Terpenes hold the largest share of this global sector, accounting for 36.8% of the market.
Terpenes are produced naturally in plants and trees, and are used worldwide in products such as fragrances, flavors, and fuels.
Much of our modern way of life is built using chemicals derived from crude oil, however, in an effort to find environmentally-friendly and sustainable replacements, chemists have been turning to terpenes to develop products ranging from fuels, to plastics, to deodorants.
Green joins Kush Bottles with over 20-years experience in the biotechnology sector, where he focused on the development of natural products and genomic technologies with agricultural and pharmaceutical applications. Prior to joining Kush Bottles, Green co-founded Trinity Terpenes, where he led the creation and development of authentic terpene profiles. Prior to that, Green led a team of scientists at Yulex in a genomics breeding program. He also developed a natural biocide that utilized terpenes, and led field trials showcasing its potential as a replacement to synthetic pesticides.
“Wayne’s unique mix of skills and experience in genomics breeding and as an entrepreneur make him an excellent choice to lead Kush Bottles’ expansion into the terpene business,” Nicholas Kovacevich, Chief Executive Officer of Kush Bottles, said. “We look forward to his leadership role in developing and evaluating natural-chemical products that expand our product portfolio.”
“I am excited to lead Kush Bottles entry into the global terpene market, especially at this exciting and energetic time, as the company rapidly expands its customer base, product offerings, and geographic footprint,” Green commented. “I am looking forward to building out a range of terpene-based products as Kush Bottles aims to build market share in this growing and multi-faceted market.”