DOD Biotech Public Company Limited (SET: DOD) has announced that its subsidiary, Siam Herbal Tech Company Limited, is the first company in Southeast Asia to successfully extract CBD from hemp flower for commercial purposes in their newly built state of the art extraction facility. The CBD isolate powder, with a minimum purity of 98%, was extracted from hemp flower grown by Siam Herbal Tech’s contract farmers with seeds supplied to be grown for commercial purposes. This reaffirms its continued efforts to develop food supplements utilizing high grade CBD Isolate and other high value plant-based compounds as key ingredients to serve client demand for new product lines.
Mr.Thanin Srisethi, Chief Executive Officer of DOD Biotech Public Company Limited (DOD), reveals that Siam Herbal Tech Company Limited (SHT), a DOD subsidiary focused on the extraction of hemp-based cannabinoids, kratom and other plant-based compounds, announced that on 27 December 2021, SHT was able to successfully produce its first commercial batch of CBD isolate from hemp flower that commenced growing in September 2021, with the first batch of seeds supplied for commercial growing. This follows SHT being awarded its commercial license for CBD extraction on 8 December 2021.
SHT expects to deliver CBD Isolate in January 2022 to DOD to be used as an ingredient to develop and deliver specifically formulated food supplements. Under its “One Stop Service” program for new product development, DOD expects to move forward in delivering products to customers who have previously signed a Memorandum of Understanding (MOU) to jointly develop finished products from hemp-derived extracts. Amongst those with whom DOD has already signed MOUs are JKN Global Media (JKN), Rojukiss International (KISS), Beauty Community (BEAUTY), Chayo Group (CHAYO), FN Factory Outlet (FN), and other operators.
“We are proud of our achievement of becoming the first company in Southeast Asia to extract hemp-derived CBD isolate for commercial purposes and consider this a key milestone in the development of the commercial hemp industry in Thailand and Asia. This pioneering milestone will provide momentum to create value derived from products containing hemp, Kratom, and Thai herbal extracts for customers next year and into the future,” he said.
The MFUSED Group, one of the largest producers of hemp and cannabis-based cannabinoids in the Pacific Northwest of the United States of America, is a partner in SHT as previously announced. Mr. Yung Tan, Co-Founder and Chief Executive Officer of the MFUSED Group expressed, “the MFUSED Group is delighted that SHT has achieved its objective of being the first company to extract CBD isolate commercially in Southeast Asia as part of its strategy to be a key supplier of hemp-derived cannabinoids and other plant-based therapeutic compounds in Asia.”
Mr.Jonathan Watsuksanti, Director of Siam Herbal Tech Company Limited and MFUSED Group (APAC) reaffirmed that “the global hemp, cannabinoid, and plant-based therapeutics industry is rapidly growing, with Thailand expected to have an industry market value as high as 20 billion baht in 2024 while the regional market will be valued at 400 billion baht. SHT, as Southeast Asia’s first mover in legal CBD extraction for commercial purposes, will be well positioned to capitalize on this opportunity to realize growth and further expand into the regional markets in the future, as planned.”
