Note: The article was edited on January 31, 2023 at 21:48 to include corrections and statements by Michael Parkes, CEO of Canguru Foods Lda.
The City Council of Abrantes approved the candidacy for the acquisition of a plot of more than 6 thousand square meters in the Abrantes Industrial Park by the company Canguru Foods Lda. In view is the development of the project Bios MCN, an innovative project that aims to install a nursery dedicated to providing clones of cannabis plants to licensed companies and that could create 28 jobs by 2028.
A new project in the medical cannabis sector could be emerging in Abrantes. At the Chamber meeting held on January 10, 2023, the candidacy for the acquisition of a plot with an area of 6.241,81 m2 in the Abrantes Industrial Park, by the company Canguru Foods Lda, was approved.
This is the company that carries out the Bios MCN project, which seeks to support entities producing medical cannabis, reducing the risks and costs of commercial cultivation. The company, focusing on the beginning of the production chain, produces and supplies cannabis clones to other licensed companies. The project is developed by Michael Parkes, CEO and founder of the company, while he is simultaneously a researcher and carrying out his PhD at Instituto Superior Técnico, in Lisbon.
The company proposes to set up its activity in Abrantes for the development of the Bios MCN (Medical Cannabis Nurseries) project, a business-to-business (B2B) supplier of cannabis clones. The acquisition of the industrial zone plot is intended for the subsequent construction of its production and laboratory unit, in an investment of around 3 million euros. The project also foresees the creation of 25 to 30 jobs by the year 2028.
The company is currently undergoing approval from INFARMED, namely with regard to the authorization process for the cultivation of the cannabis plant for medicinal purposes. “As soon as it is completed, the company will start work on preparing the lot and building the building in the industrial zone of Abrantes”, reads the release of the Municipality of Abrantes.
For the Mayor of Abrantes, Manuel Jorge Valamatos, “it is with great pleasure that we see the installation of this laboratory in our industrial zone, next to the Science and Technology Park”.
Canguru Foods has as its managing and majority partner Michael Graham Parkes, a highly qualified systems scientist with more than 15 years of experience in large complex organizations in the food, telecommunications and energy sectors. Along with co-founder Paulo Pereira, they are now starting its XNUMXth year of operations.
The company, which already appeared in the pressas a partner of Nova SBE, to carry out a project for a project for an urban farm developing a building-integrated indoor farming technology, in a crowdfundingcreated for this purpose. The company's CEO reveals, precisely in the video released with updates on the first quarter of 2023, that the company went through several business models before entering the world of medical cannabis.
The company ended up changing the direction of operations in 2022, when it allowed the entry of other shareholders, such as the company P8G Group Lda., Paulo André Silvestre dos Santos Vital Pereira, the company Ideias Breves – Unipessoal Lda. and Rebekah Anne O'Rourke, Michael's spouse.
In a statement to investors, via YouTube, the company's CEO announced the investment in medical cannabis as something beneficial for the company: "it's the health area, it's growing". Michael Parkes also foresees his expansion in the area of research which, due to its proximity to Tagusvalley – Abrantes Science and Technology Park, will create a synergy for technological innovations and will potentially allow the publication of more scientific articles on the propagation and the propagation systems used by Canguru Foods.
“We are very excited about the opportunity presented by this excellent location in Abrantes.”
Speaking to Cannareporter, Michael Parkes, CEO of the company, showed enthusiasm with the direction of the project in the field of medical cannabis and stated that “In the next 5 years we will develop talents in integrated systems, biosciences and cannabis genetics, in order to promote the sustainability of the sectors and build resilience in the medical cannabis supply chain in Portugal”.PD_01_10JAN2023
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