It has been a busy and incredibly productive start of the week here at BBS as we are entering the second half of the year.
This time we have had the pleasure to meet with Chief Executive at Regional Development Australia Murraylands & Riverland, Ben Fee, at BBS’s cultivation and production facility.
Together with BBS’s Corporate Team, we had the opportunity to discuss the progress of our project as well as the challenges that the medicinal cannabis industry faces in Australia and worldwide.
Mr Fee was impressed by the progress and the potential of our carbon neutral and water-efficient production and manufacturing facility and is very supportive of the project’s focus on clean and green processes, being powered by renewables with battery storage and a highly efficient glasshouse irrigation system.
“BBS is pioneering the medical cannabis industry in Australia from within the Murraylands and Riverland region. With a projected increase in the Australian legal cannabis market from USD 40 million in 2020 to USD 1.5 billion in 2025, and global demand for medical cannabis estimated to grow to USD 145 billion by 2025, the potential for significant economic benefit to the regional, State and National economies through this enterprise is enormous. In context, the entire Murraylands and Riverland agricultural value-added is around AUD 930 million (USD 640 million). This one venture has the potential to push the regional value-added for agriculture past AUD 1 billion and to make significant inroads toward achieving Growth State targets,” said Ben after visiting the site.
Regional Development Australia Murraylands and Riverland (RDAMR) is set to release their 2020-23 Strategic Plan in the coming weeks.
“Central to this plan is a vision to have the region internationally recognised as an exemplar circular economy,” concluded Ben.