Sativa Investment PLC (NEX:SATI) Chief Executive Officer Geremy Thomas caught up with DirectorsTalk for an exclusive interview to discuss PhytoVista completing its 1000th cannabinoid and terpenes test.
Q1: Geremy, can you tell us about the types of cannabinoid and terpenes tests PhytoVista has completed so far?
A1: We’ve invested over £500,000 worth of test equipment to give us the ability to test samples that included cannabinoids and we are able to test for 14 different cannabinoids as well as testing for terpenes.
Q2: How is the 1000 tests significant for Sativa Investments?
A2: Well, it’s a good milestone for us, it demonstrates that the industry in the UK is receptive to the services we’re offering. It’s also a useful gage of the commercial development of the business, revenues are increasing month on month, and we see this as an integral part of the industry as the market develops.
Q3: Now, I understand that PhytoVista is working towards its ISO accreditation, what’s the current testing process?
A3: I think with any laboratory business relies on external accreditation to give credibility and the ISO 17000 that we’re going for is the first of those targets we have internally.
We are expanding our capabilities within the lab itself, we’re taking on more people, we’re buying more equipment and we’re extending the range of tests we can offer. We’re adding, very shortly, tests for heavy metals, mycotoxins and we will be targeting pesticide testing as well later in this year.
Q4: How is PhytoVista planning to expand for a larger market share?
A4: Currently, we are unique in as far as we are the only UK specialist that has this level of capability. There are competitors to the lab in Eastern Europe and Spain but it’s all about capability and turnaround ties and we aim to be at the forefront and continue to be market-leading against those measures.
PhytoVista Laboratories are Sativa Investments’ on-site testing facility. The increased growth of the CBD industry in the UK has led to a rise in the demand for high-quality testing and batch certification, with PhytoVista being a leading service provider.