VAN NUYS, Calif., March 30, 2022 /PRNewswire/ — Eco Innovation Group, Inc. (OTC: ECOX) (“ECOX” or the “Corporation”), an revolutionary organization establishing new environmentally friendly energy answers, is pleased to update existing and future shareholders as the Firm’s supercritical Glycerin Extraction Know-how (“GET”), an innovative cannabis extraction method, developments via the United States Patent and Trademark Business (USPTO) although a critical invoice considering federal legalization of hashish heads towards a vote in the United States Residence of Representatives this week.
As announced by the Business in its launch dated March 17, 2022, Eco Innovation Team a short while ago obtained a Discover of Allowance from the USPTO for its patent covering strategies of extraction of plant supplies received working with the GET program, which has been completely licensed to ECOX by Glytech, LLC (“Glytech”).
“The GET program is an upgrade of the technology horizon for generating remarkable higher-grade plant extracts with a provable reduction in expenses, as perfectly as time and electrical power, throughout the extraction approach, which has enormous implications for the hashish items industry,” mentioned Julia Otey-Raudes, CEO of Eco Innovation Group. “As we go towards complete IP security to accompany our distinctive license rights for this up coming-generation extraction technology, we imagine legislative momentum is a tailwind for the cannabis sector, and we applaud lawmakers who are helping to generate progress and provide for far more equity and increased obtain.”
The Cannabis Chance, Reinvestment and Expungement Act (the “Far more Act”) is a bill sponsored by House Judiciary Committee Chairman Jerrold Nadler (D-NY) that is up for a vote to obvious the United States Residence of Reps as early as this week. The bill essentially aims to clear away hashish from the listing of federally managed substances, which could open the door for true federal legalization of cannabis in the United States. However, the bill would not have to have states to legalize cannabis but would go away regulatory discretion up to states.
At the exact time, the Safe and Truthful Enforcement (Harmless) Banking Act (H.R. 1996), sponsored by Rep. Ed Perlmutter (D-CO), is now up for thing to consider in the Senate with a variation that was reintroduced on March 23, 2021, and is sponsored by Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT), with 180 latest cosponsors. The Safe Banking Act would produce protections for money establishments that provide economical services to condition-lawful hashish enterprises, providing compact and minority-owned hashish enterprises entry to banking companies and regulated economic companies.
Management views these steps as crucial techniques in leveling the enjoying field for buyers and businesses as the GET technique moves toward commercial launch, which is currently prepared for Q4 2022 or early 2023.
The GET system’s plant extraction strategy promises to reduce waste from vaping hashish and to provide better standardization of extracts in products and solutions. Compared with present engineering in the marketplace, this technological innovation makes use of a non-CO2 solvent and cofactors to extract chosen bioactive compounds from plant materials. The outcome is an extracted fluid excellent in viscosity to the output of latest CO2-based mostly extraction procedures, though streamlining time, vitality, and funds expenditures.
The GET method was covered by Chemical Engineering magazine final year.
Otey-Raudes included, “This engineering – our unique technologies – promises to drive bigger yields with better source performance even though producing a lot more dependable, standardizable concentrations of goal compounds. This consistency is a huge variable. It suggests clients stand to get solutions with the similar potency each individual time, which is not the case with recent solutions in use right now, which includes supercritical CO2. We count on this engineering will produce lower overhead prices to suppliers whilst building much better general yields and better consumer satisfaction. In a maturing sector with increasing arrive at, this is paramount.”
About Eco Innovation Team
Eco Innovation Team was established by Inventors and Small business Industry experts to help nurture and catalyze the most progressive and impactful solutions and providers, and to produce all those improvements to the globe, enhancing the good quality of lifetime in our communities and the world all-around us, while providing value to our shareholders.
At ECOX, we are focused to producing and commercializing effective products. But we will by no means eliminate sight of the actuality that we exist, initially and foremost, to assistance individuals and boost life on the world we all share. We consider our Social Obligation Deal significantly in all our endeavors. It is not only what we do. It is who we are. For far more facts, pay a visit to www.ecoig.com.
Perspective the Company’s new video clip Below.
Forward-Searching STATEMENTS: This release contains “ahead-wanting statements” inside of the which means of the protected harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Ahead-on the lookout statements also may well be bundled in other publicly accessible files issued by the Business and in oral statements built by our officers and representatives from time to time. These forward-hunting statements are intended to supply management’s present-day anticipations or programs for our foreseeable future functioning and monetary performance, centered on assumptions at present considered to be valid. They can be recognized by the use of terms these as “foresee,” “intend,” “plan,” “intention,” “search for,” “consider,” “undertaking,” “estimate,” “anticipate,” “technique,” “potential,” “very likely,” “may well,” “must,” “would,” “could,” “will” and other text of comparable which means in relationship with a discussion of upcoming working or economic efficiency. Illustrations of forward-seeking statements involve, among the others, statements relating to foreseeable future gross sales, earnings, cash flows, effects of functions, works by using of income and other actions of money general performance.
For the reason that ahead-wanting statements relate to the future, they are topic to inherent threats, uncertainties and other things that may well cause the Company’s precise final results and money problem to vary materially from people expressed or implied in the ahead-looking statements. These kinds of dangers, uncertainties and other factors incorporate, among other individuals this kind of as, but not restricted to financial ailments, changes in the legislation or laws, desire for goods and products and services of the organization, the effects of competition and other elements that could lead to true final results to differ materially from those projected or represented in the ahead-on the lookout statements. Any ahead-wanting information and facts delivered in this release really should be deemed with these elements in mind. We suppose no obligation to update any ahead-seeking statements contained in this report.
EDM Media, LLC
Check out primary content material to obtain multimedia:https://www.prnewswire.com/news-releases/eco-innovations-future-gen-cannabis-extraction-engineering-on-track-for-complete-commercial-launch-as-us-residence-considers-federal-hashish-legalization-301513598.html
Source Eco Innovation Team