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- ECS Botanics (ECS) is poised for a strong year as increasing demand props up its sales figures
- Its facility in Victoria has recorded sales for the current quarter of around $543,000
- Total sales for the 2021 calendar year are now expected to hit $2 million thanks largely to new customer contracts
- To meet the demand, ECS is building another 2000 square metres of protective cropping enclosures, adding to the current 1000 square metres
- Shares in ECS Botanics are trading up 9.76 per cent at 4.5 cents each at 10:57 am AEST
Medical cannabis grower ECS Botanics (ECS) is poised for a strong year as increasing demand props up its sales figures.
Its facility in Victoria — which produces premium dried flower, biomass and oils – recently completed its first commercial harvest and has recorded sales for the current quarter of around $543,000.
Total sales for the 2021 calendar year were now expected to hit $2 million thanks largely to new customer contracts, the company said.
To meet the growing demand ECS is in the process of expanding its Victorian operations by building another 2000 square metres of protective cropping enclosures, significantly expanding on the current 1000 square metres.
In a statement released this morning, ECS said the increased capacity also afforded the flexibility to support its customer base by cultivating specific strains under contract.
ECS is one of only a few companies that hold several Office of Drug Control and TGA Manufacturing licences, but said it would need to extend its Good Manufacturing Practice (GMP) licence if it’s to successfully meet the existing levels of demand.
To that end, its processing facility has been upgraded to include pharmaceutical-grade cleanrooms for packaging dried flower.
“Based on the orders received and the increased enquiries from local and European customers, we are increasing our premium dried flower cultivation capacity threefold,” Managing Director Alex Keach said.
“There is significant momentum in the business and several developments are imminent.”
Shares in ECS Botanics were trading up 9.76 per cent at 4.5 cents each at 10:57 am AEST.
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