HOUSTON, TX / ACCESSWIRE / January 17, 2019 / The global cannabis boom is tough to ignore.
Analysts at Piper Jaffray say the market for legal cannabis could be worth $15 billion to $50 billion a year, with global sales growing to $250 billion to $500 billion.
Analysts at Cowen believe U.S. cannabis sales alone could reach $80 billion by 2030 -- an increase of $5 billion from earlier estimates, and a 4% compound annual growth rate.
But there's a third number that's also impressive: 9,000 metric tonnes (19.8 million pounds).
That's the estimated amount of plant waste the will be created each year - in Canada alone- by 2020.
Since the flower is the only part of the marijuana plant sold, the remainder - including biological waste, such as leaves, unuseable flower, stems and stalks - must be destroyed, according to Health Canada and state regulations. There can't be any recognizable parts of the plant left remaining.
It's not a small amount either.
In fact, for every kilogram of legal cannabis that was consumed in Canada in 2017, nearly eight kilograms of the plant was waste, which had to be mixed with kitty litter and landfilled, burned, or securely composted under Canadian regulations, noted Vice.com. The waste is only considered to be destroyed when it is denatured and altered to a point when its consumption is deemed to be impossible.
One such company has been quick to jump on the opportunity.
Micron Waste Technologies (CSE: MWM) (OTC PINK: MICWF), in a collaboration with Aurora Cannabis, has developed an industrial-grade Cannavore cannabis waste system to pulverize and render plant waste in combination with a proprietary blend of microbes and enzymes designed and developed by Micron.
The best part - it's turning that waste into contaminant-free water, allowing for its reuse in growing operations.Active pharmaceutical ingredients (APIs) in cannabis waste are biologically treated to denature the cannabinoids, so if the purified greywater is discharged, customers will still be compliant with discharge regulations.
For More Information on Micron Waste Technologies, Inc., Click Here.
Strong IP
In addition, the company just secured a U.S. biotech patent for its commercial biological waste treatment formulation, the company's second patent in the past six months for its waste systems.
The patent recognizes and safeguards the innovative process developed by Micron's Co-Founder and Chief Technology Officer, Dr. Bob Bhushan, whose research led to the development of''immobilization technology'' to protect and enhance highly selective and effective microorganisms and enzymes.
The advanced bio-process effectively allows pollution-degrading, GRAS-certified organisms to biodegrade organics. Micron will use the formula in its Cannavore units and its food waste systems. It can also license the formula to preferred partners.
''This is an important and validating milestone for Micron, locking in our leadership in a new era in organic waste management,'' said Micron President and CEO Alfred Wong.''Dr. Bhushan's bio-process and formula complements the efficiency of our Cannavore and food digesters and can be used as an additive to boost the efficiency of other waste treatment systems, increasing their ability to comply with government regulations.''
For More Information on Micron Waste Technologies, Inc., Click Here.
Legal Disclaimer
Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from addressed or implied by such statements. Winning Media which has a partnership with www.MarijuanaStox.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
For making specific investment decisions, readers should seek their own advice. Winning Media, which has a partnership with www.MarijuanaStox.com, is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media (partners of MarijuanaStox.com) and Micron Waste Technologies, Winning Media has been paid three thousand dollars for advertising and marketing services for Micron Waste Technologies. We own ZERO shares of Micron Waste Technologies Please click here for full disclaimer.
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SOURCE: MarijuanaStox.com
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