Exciting news from cannabis beverage company BevCanna Enterprises Inc. (CSE:BEV) (OTC:BVNNF) as it announced today the completion of lab testing for its proprietary powder ingredient, Deeper Green.
Described as a “tasteless, odorless, water-soluble powdered ingredient,” Deeper Green helps stabilize the delivery of cannabinoid elements in targeted concentrations. Tests have now proven that Deeper Green and the products it infuses will pass California’s Cannabis Compliance Regulations. This means that BevCanna’s water-soluble infusion process is reliable and consumers can have confidence in the doses advertised on its products.
When tested with THC, Deeper Green has proven to deliver precise target concentrations for one batch within 0.3 percent, and from batch-to-batch within 0.6%. Independent testing has also confirmed that it infuses granular drink mixes and ready-to-drink water beverages within 0.4 and 0.3 percent respectively.
In addition to THC, Deeper Green’s powder tech can infuse CBD and full-spectrum extracts.
Deeper Green Adds to BevCanna’s Growing Product Portfolio
“The successful testing of Deeper Green is exciting in that it will extend BevCanna’s assortment of products,” said Emma Andrews, BevCanna’s Chief Commercialization Officer. “As beverage experts, we’re already planning a number of ready-to-drink formulations, and we can now add powdered options to our range.”
Last month, BevCanna revealed its first cannabis-infused beverage line, Anarchist Mountain Beverages. Inspired by the company’s bottling operations site in the BC interior, each of the flavors in the Anarchist Mountain Beverages line offer distinct, innovative botanical taste experiences meant to evoke the plants found throughout the Pacific Northwest.
BevCanna followed this announcement by unveiling its second line of cannabis drinks earlier this week. The Grüv Beverages brand offers a range of easy-to-drink cannabis-infused iced tea beverages. These drinks will help consumers relax while quenching their thirst, and have been formulated with a balanced THC/CBD profile for wide consumer appeal.
Due to the successful testing of Deeper Green, BevCanna can definitively add powdered mixes to its product range. Specifically, the Anarchist Mountain line will feature powdered drinks as well as ready-to-consume drinks and shots.
Andrews adds that BevCanna is already planning to explore alternative formats for Deeper Green.
“The possibilities that this tasteless, odorless, water-soluble powder technology opens up are endless and we’re eager to leverage this innovative and proprietary technology,” she says.
Cannabis-Infused Beverages is a Market With Huge Potential
According to Zenith Global, the market for cannabis beverages could reach $1.4 billion by 2024. This represents a 1500 percent growth from 2018. Experts say that key factors in the frowth include loosening regulation, greater awareness from consumers, and innovation on the part of start-ups in the cannabis drinks sector.
These findings are echoed in a recent study conducted on behalf of BevCanna. The study, which surveyed more than 2,000 adults, found that more than 70 percent of Canadian consumers will “probably” or “definitely” purchase CBD-infused beverages once they become legal.
As BevCanna owns a 100-acre outdoor cultivation site in the Okanagan Valley and enjoys the exclusive rights to a pristine spring water aquifer there, it is well-positioned to capture the growing demand for cannabis beverages. The company projects its revenue to triple over the next few years, rising to $37,288,393 by 2022.
Since this time last week, BevCanna’s stock price has risen 40 percent on the Canadian Securities Exchange, from $0.50 to $0.70.