One of the world’s top cannabis producers has announced that it’s taking another step to upgrade its output. Aurora Cannabis released a statement updating the status on their next generation Aurora Sun facility, boosting the facilities existing size by 33 percent.
The new Aurora Sun plant ranks among the most technologically advanced cannabis facilities in the world, capable of producing around 230,000 kilograms of high-quality marijuana on an annual basis once complete. Previously planned at 1.2 million square feet, the facility will instead to expanded to 1.62 million square feet to help meet growing global demand.
“Aurora Sun represents the next evolution in our Sky Class facility design, delivering massive scale, low cost production, and consistent, high-quality cannabis. Particularly in newly-opened markets, establishing first-mover position and embedding Aurora’s market share and brand requires a stable and reliable supply of high-quality cannabis for these markets,” said Aurora CEO Terry Booth. “The increased scale of Aurora Sun reflects our expectations for the long-term growth in global demand, especially the higher margin international medical markets which will be faced with significant supply shortages for the foreseeable future. Sun is also designed with flexibility in mind to enable us to quickly meet changing market demands, particularly as breeding and cultivation technologies evolve and as customer preferences and requirements change.”
Aurora cannabis made news earlier last week when it announced that it was selected by the German government as one of the only companies to win a public tender to cultivate and distribute cannabis in the country. Out of almost 80 companies that competed for the project, Aurora was selected as having the best concept. The only other cannabis company to get selected by the German government after Aurora was Aphria .
Overall, the company is seen as one of the top marijuana companies in the industry by analysts on Wall Street, who expect it to eclipse other giants such as Canopy Growth Corporation in performance in years to come. For one, Aurora’s production peak production is estimated at 700,000 kilograms, in comparison to Canopy Growth which comes in second at 525,000 kilograms per year. Secondly, the recent partnership with billionaire Nelson Peltz promises to help put Aurora in a better situation in the retail and edibles sectors. The only potential hiccup holding back the company is the lack of a major partnership. Aurora’s management team would love to find a major partner in the beverage sector, similar to how Constellation Brands invested $4 billion into Canopy for the purpose of setting up
Shares of Aurora Cannabis increased by around 3 percent in today’s trading session in response to the news.
Aurora Cannabis Company Profile
Aurora Cannabis Inc is a Canada-based company engaged in the production and distribution of medical cannabis. The Company is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis, and hemp production, derivatives, home cultivation, wholesale and retail distribution.
The Company’s purpose-built facilities which integrate technologies across all processes are defined by automation and customization. The Company has a funded capacity of more than 500,000 kilograms per year as well as sales and operations in 24 countries worldwide. – Warrior Trading News
