Meet the cannabis executive aiming to take on Europe and North America’s established industry titans.
Mitesh Makwana is the director of AltoVerde, a start up company looking to establish itself as one of the continent’s big players.
The race is on to put roots down in Europe with several countries expected to expand patient access in the coming years – and even open up adult use markets.
Huge companies from across the pond like Tilray, Aurora and Bedrocan have already got boots on the ground, buying up companies and starting operations in places like Denmark and Portugal.
AltoVerde is aiming to be the new kid on the block and wants to shake things up in an industry which it believes has gone from counter-culture to corporate.
Makwana told Cannabis Wealth: “It’s become a completely different scene. We know that there might be a view that us industry veterans aren’t ready to take on this new market but we just plan to get our heads down and get on with what we know best.
“We understand that there are big regulatory hurdles, but ultimately there is one goal: getting a good end product to consumers at a fair price.”
This team of ‘veterans’, some of whom have almost two decades experience in the industry, have been in the game since paraphernalia and souvenir seeds were the only way to make money out of cannabis in Europe.
But things are changing. The medical cannabis sector in Europe is forecast to explode over the next few years and companies set up and ready to go when liberalisation happens stand to make a fortune.
Makwana said: “The team and our roots set us apart from the rest of the industry.
“Many of the people involved with company have been active in this sector for several years, people who’ve spent years honing their expertise in cultivation, breeding, plantation management, clinical trials, chemistry and extraction.
“This plant has a lot of amazing properties and we’re passionate about unlocking them for consumers and patients.”
The company has already completed an initial funding round and is planning a private subscription to raise further capital in the near future.
Deals to begin two manufacturing operations in Europe, including a 10,000+ square meter cultivation plant in Macedonia, are nearing completion and the company has longer term ambitions to carry out its own clinical trials.
It’s early days but the company has set out a five-year growth plan and is targeting £13.1m in inward investment.
Makwana told Cannabis Wealth, AltoVerde, which is headquartered in the UK, will be involved from seed to distribution and will respond to change in the market and regulations.
He said: “We’re setting ourselves up to be able to adjust to the way market demands shift over the coming years.
“With our expertise we know we can satisfy demand from the medicinal and wellbeing markets.
“We’re positioning ourselves up to take advantage whichever way regulations go and however the market changes.
“With our experience we know we can change and adapt.”
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