Cronos Group (NASDAQ:CRON,TSX:CRON) announced the opening of a new cannabinoid device research and development facility, based in Israel.
As quoted in the press release:
The state-of-the-art facility supports Cronos Group’s efforts to develop next-generation vaporizer products that are designed specifically for cannabinoid applications.
Cronos Device Labs, which is equipped with an experienced team of product development talent, advanced vaporizer technology and analytical testing infrastructure, serves as the global center of R&D for the Company’s vaporizer devices.
“The launch of Cronos Device Labs is an exciting next step on our journey to become a leader in cannabinoid innovation,” said Cronos Group’s Mike Gorenstein, Chairman, President and Chief Executive Officer. “Vapor is already one of the most popular forms of cannabis consumption, and we see a clear opportunity for Cronos Group to introduce the next-generation of vaporizer products designed specifically for cannabinoid formulations. With a deep bench of engineering, analytical, scientific and design talent already in place, we are confident that Cronos Device Labs will play an important role in positioning the Company for long-term success by enabling us to build innovative vaporizer products that resonate with our customers and generate shareholder value.”