AXIM Biotechnologies has selected the coastal city of Almere in the Netherlands, for its future hemp-based products manufacturing facility headquarters.
The company, which is focused on research, development and production of pharmaceutical, nutraceutical and cosmetic products, has executed an option agreement for a land purchase of a 5,328m² industrial land.
Currently, the company also holds a design and feasibility services agreement with a Dutch commercial real-estate developer G&S Bouw.
The new office building will feature a clean laboratory zone, storage areas, office and technical rooms as well as manufacturing facility furnishings.
Project design and feasibility has already been initiated, while the construction is scheduled to be completed by 2017.
AXIM Biotechnologies chief executive officer Dr George Anastassov said: "Here at AXIM, we are delighted to initiate the acquisition of a land parcel at the city of Almere at The Netherlands.
"We are extremely thankful to the government of the province of Flevoland for their trust in AXIM Biotechnologies.
"The factory that we will build there is compliant with the highest European and International standards and will produce unique pharmaceutical and nutraceutical products from our extended proprietary portfolio."
According to the research, the industrial hemp plant can produce more than 25,000 products.
The new Almere facility will include raw material and finished product manufacturing in the following categories: functional foods, nutraceuticals, pharmaceuticals, cosmetics and clean energy.
This facility will also serve as the company's global manufacturing hub, with both the capacity to manufacture the products and also to process hemp oil derivatives.
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