Bulgarian company CBD Seed Europe has registered two of its strains with the European Seed Register which it claims have record levels of cannabidiol.
While most hemp seeds registered in the European Common Catalog produce plants with a CBD content of 5-6%, newly registered varieties can reach up to 12%.
The two newly registered varieties, known as “Midwest” and “Northwest,” will be viable in most latitudes of the continent, the company says.
And, with EC limits for THC content in hemp seeds set to drop from 0.2% to 0.3%, it says it will be able to develop new varieties that will increase “even more » CBD level.
Investment of 500,000 euros
Americo Folcarelli, co-founder of CBD Seed Europe, said its success is the result of hard work and investment.
“We are delighted that after two years of testing and research – and over €500,000 investment – we have reached the stage where our two high CBD seed varieties have been approved for sale in the world. ‘European Union.
“We believe this opens up a number of unique business opportunities, including exploring joint ventures with other breeders to create new varieties specifically designed for the European market. »
CBD Seeds Europe has worked closely with the European Industrial Hemp Association (EIHA) to promote its new strains.
Lorenza Romanese, Director General of EIHA, said: “We are certainly pleased that the breeders are finally able to provide EU farmers with varieties that are suitable for our climate and higher in CBD – this is what the market has been asking for. »
CBD Seed Europe was founded by Canadian cannabis entrepreneur Mr. Folcarelli and his Bulgarian business partner Ivailo Staninski, with the company run by Simeon Genov.
In 2021, he claims to have recorded revenues of €500,000 and expects annual sales of €4 million from this new development.
Huge growth potential
Folcarelli says he was drawn to the European cannabis and CBD market because of its growth potential and, after running into numerous bureaucratic hurdles in southern Europe, the company chose Bulgaria.
After two years of testing under the auspices of the Bulgarian Seed Agency, as required by EU guidelines, its two new genetics were officially launched on the European catalog last month.
With Bulgaria now the company’s home country – which helped found the Bulgarian Industrial Hemp Association – the company plans to build the first seed research center in the next 12 months. and genetics in line with European standards.
“My vision is that we can create a fully functional, vertically integrated supply chain from genetics to consumer products, so that every product is traceable back to the seeds that started the process. »
“This will allow us to create new and better hybrids that can compete with or even surpass those created in other parts of the world,” he added.
The company wants to work with European partners to support the growth of the industry.
Partnership is “vital”
He added: “Apart from seed registration, we have also worked with the Bulgarian Ministry of Agriculture, alongside EIHA, to help them develop regulations and legislation so that farmers and processors can work legally and safely. »
“Along with our partners and collaborators, we are also working with government agencies in Greece, Italy and Spain to improve regulation and transparency at all levels of the supply chain to ensure safe and effective products for the end consumer. . »
While imported US biomass contained up to 15% CBD, this latest development will boost the competitiveness of European industry. Mr. Folcarelli also asserts that certain North American biomasses do not adhere to “EU GMP standards and should not be authorized in food supplements”.
Global Hemp Seeds Market was valued at EUR 830 Million in 2021 and is projected to reach EUR 1,550 Million by 2027.