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CannPrisma opens medical cannabis facilities in Castro Marim

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João Nascimento in the experimental cultivation of CannPrisma outdoors. This plantation was for testing purposes only and will be destroyed. Photo: Laura Ramos | cannareporter

CannPrisma opened its medicinal cannabis cultivation and processing unit this Monday in Castro Marim, Algarve. The family business, 100% Portuguese, foresees an investment of 30 million euros over the next five years and officially enters the international medical cannabis market: 90% of its production will be exported.

The cultivation and processing unit has about 10 hectares and XNUMX square meters of greenhouses and support infrastructure with “state-of-the-art technology”. This year, Cannprisma made the first experimental planting outdoors, to test different varieties. All production in outdoor will be destroyed, as it served only for research. The CannPrisma project expects to invest around 30 million euros over the next five years, of which around 15 million have already been invested so far. In addition, the company expects to create between 200 and 300 jobs (it now has around 50) and a turnover of around 20 million euros, with around 90% of this amount coming from exports.

One of CannPrisma's greenhouses. Photo: Laura Ramos | cannareporter

CannPrisma intends to form partnerships with several institutional entities, such as universities, and local companies, to promote Research and Development (R&D) by highly qualified staff. For the next year, it is planned to grow around 12 kilos of cannabis flower. The company's facilities comply with GACP (Good Agricultural and Collection Practices) standards and have been in testing since the second half of 2020, having recently obtained a license from Infarmed to grow, process, import and export cannabis-based products for medicinal.

João Nascimento, CEO of CannPrisma, stressed that “the project is the result of three years of work and a lot of motivation, generated by a dream shared by the entire team. Without her, I wouldn't be here today.”

CannPrisma facilities on opening day. Photo: Laura Ramos | cannareporter

In his speech, he highlighted the stages of growth that he aspires to for the future of the company, with the first installations completed, followed by the construction of the pharmaceutical industrial unit GMP, in Vila Real de Santo António, where the company is headquartered, and where they will produce and pack dry flowers.

CannPrisma is a family business and the first with Portuguese capital to obtain the Infarmed license. The company is made up of four partners – João Nascimento (CEO), his parents, Elsa and Paulo Nascimento (Executive Managing Partners) and pharmacist Fernando Águas (Industrial Director / QP). Last Monday's inauguration event was attended by several local entities, such as the Mayor of Castro Marim, Francisco Amaral, the President of the Committee for Coordination and Regional Development (CCDR) of the Algarve, José Apolinário, and several representatives of the Parish Council, GNR and PSP, among others.

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