Cronos Extraction
About Cronos Extraction
Cronos Group's extraction division focuses on innovative cannabinoid research and processing, backed by Altria's strategic investment, with emphasis on biosynthetic cannabinoid production.
Key Facts
- 1Altria Group invested CAD $2.4 billion for a 45% stake, funding extraction technology R&D
- 2Partnered with Ginkgo Bioworks to develop fermentation-based production of rare cannabinoids
Latest News
CRON Holds Ground Despite Cannabis Sector Volatility
Cronos Group maintains stable trading amid mixed cannabis earnings season, with strong balance sheet positioning company for strategic opportunities.
Cronos Group Pivots Cannabis Strategy Amid Global Market Shifts
CRON adapts business model as international cannabis markets mature, signaling strategic realignment for growth opportunities.
Frequently Asked Questions
What is biosynthetic cannabinoid production?
Instead of extracting cannabinoids from plants, biosynthesis uses engineered yeast or bacteria to produce cannabinoids through fermentation, potentially at lower cost and higher purity.
Why did Altria invest in Cronos?
Altria, the tobacco giant behind Marlboro, invested in Cronos to gain exposure to the cannabis industry as a potential growth category amid declining cigarette sales.
More Cannabis Companies in Toronto
Products
- Cannabis Extracts
- Biosynthetic Cannabinoids
- Derivative Products
Specialties
Company Details
- Type
- Extraction
- Location
- Toronto, ON, Canada
- Founded
- 2012
- Publicly Traded
- Yes
- Ticker
- NASDAQ:CRON