OANZ Member PURO receives $13M grant from NZ Government

The Government has awarded OANZ member Puro $13Million to develop a growing handbook for other medicinal cannabis companies.

The grant is designed to fast-track the establishment of an organic medical cannabis industry in New Zealand by developing a blueprint for other Kiwi companies.

OANZ is incredibly proud of Puro's decision to start with organic cultivation from the get-go. They have been actively pursuing organic certification when there wasn't one established for cannabis.

Founded in 2018, Puro is Australasia’s largest grower of medicinal cannabis and one of the world’s largest certified organic producers.

Managing director Tim Aldridge says the grant is a gamechanger that will provide New Zealand patients with greater access to locally grown and manufactured medicine and pave the way for international export success.

“Organic medicinal cannabis is a huge and lucrative opportunity for New Zealand, and this grant is a recognition of the potential of Puro and the local industry,” says Tim.

Under the agreement, Puro will develop production systems, support skills and training, explore contract growing and identify pathways to market for industry growth.

“Being one of New Zealand’s first medicinal cannabis companies has meant we’ve had to overcome some major challenges – it hasn’t been easy. This programme will see us create an organic production handbook that will be invaluable for Puro and our industry.

The grant will also support Puro in developing post-harvesting processing technology and build the IP required to produce premium organic cannabis flower to meet increasing domestic and global demand.

Over time the programme will create hundreds of jobs, with modelling suggesting that 200 jobs will be created over the next 5-10 years. Most of these will be based in the Marlborough region and will boost the local economy, however, Tim says the benefits will go way beyond that.

“Overall the programme’s potential economic benefit to New Zealand has been calculated at up to $236 million within the next 10 years.”

Tim Aldridge says now is the perfect time to accelerate this high-value industry for New Zealand.

For more information on Puro visit puro.co.nz and follow @Puro on Instagram, Facebook and LinkedIn.