A new agreement has been reached that will provide the UK and European CBD markets with ingredients that meet compliance regulations in the UK.
Under the agreement, Britannia will supply Remediation Sciences Technologies (RST) with compliant cannabinoid ingredients for the UK and European markets.
The UK, which is estimated to be the second-largest CBD market, is moving towards becoming the world’s first regulated CBD market after the Food Safety Authority classified CBD as a Novel Food and established a rigorous approval process for all ingredients and finished products. Sales for CBD products in the UK reached £690m in 2021 according to a report from the Association for the Cannabinoid Industry.
CEO of Britannia, Peter Shippen, commented: “We are excited to partner with RST to supply the UK and European markets with high quality cannabinoid products at a competitive cost.
“The ability to source a consistent supply of validated ingredients is critical to the continued growth of the UK market and a core element of Britannia’s market strategy.
“This Agreement positions Britannia to provide its customers with comprehensive product development solutions by offering validated and approved ingredients alongside our existing formulation, testing and regulatory compliance services.”
Britannia, which is a global platform offering an integrated suite of services to assist companies along their product development journey, will manage sales and logistics in the UK and European markets. The products will be added to its Novel Food applications.
The company has expertise in the development and regulatory approval of topical and edible cannabis products, including preparation and support for Novel Food authorisations.
“RST welcomes this partnership with Britannia to further develop our reach into the UK and Europe. Our high-quality ingredients integrate well with Britannia’s service offering and expertise in cannabinoid product formulations,” said Lawrence Hourihan, CEO, Remediation Sciences & Technology.
RST business-to-business provider of specialty cannabinoid ingredients. The Company’s proprietary solventless remediation technology greatly reduces the environmental impact of processing oils to remove unwanted cannabinoids.
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