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Power Leaves Corp has completed the construction on its three facilities in Colombia used for the manufacture of decocainized coca extract. The completion of the facilities enable the firm to begin export of its product to global markets.
The three facilities include a 1,600 square foot manufacturing facility for the manufacturing of decocainized coca extract, as well as an FDA-registered, 3,200 square foot processing and packaging facility, and a 2,700 square foot research and development facility that will focus on exploring the genetics of the coca plant.
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Power Leaves is able to legally produce, process and export cocaine-free extract via a 15 year exclusive agreement that it has entered with an indigenous community in the country. Both its manufacturing campus, as well as its R&D facility, are located on Indigenous land.
With its processing and packaging facility being FDA-registered, the company is able to export its extracts to global markets for use in food and beverage products. The coca extract, which is said to have an incredible taste profile, is intended to be used as a natural source of protein, nutrients, and vitamins. Conversations are said to be ongoing with major contract manufacturers for testing and sample orders, with the first extracts expected to be delivered to global markets in the second quarter of 2023.
“At Power Leaves, we are ending the monopoly on the supply of coca-extract, and the completion of our extraction and processing facilities was the critical next step in our strategy. We are now in a position to begin commercial sales and bring the incredible taste and health benefits of our proprietary coca extracts to global markets,” commented CEO Pat McCutcheon.
“The early reception for our extract has been extremely positive so far, and we are optimistic that it will be well received by the broader market as we continue to scale production.”
Separately, the company this morning indicated that it is currently accepting investment from accredited investors under a Reg D 506(c) offering, under which it has already raised US$3.7 million. The company is currently targeting to raise $5.0 million under the offering.
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