Israeli cannabis oil 'espresso machine' start-up smashes funding goal
The company says it is only months from launching its product in Israel and plans to enter the US market next year.
By Idan Zonshine, Jerusalem Post, January 27, 2021
Green Point's prototype cannabis oil extraction machine. (photo credit: GREEN POINT)
Green Point, a new start-up based in Beersheba, has quickly shattered
its pre-seed goal of NIS 800,000, to develop with its partner Univo
Pharmaceuticals a new espresso-style machine that allows cannabis users to easily create vials of high-quality cannabis oil from any strain.
It is now launching a seed round for market penetration.
The machine uses capsules filled with ethanol, which absorbs
cannabinoids and terpenes from the cannabis, to create oil from up to 5
grams worth of cannabis within a matter of minutes.
The process of extracting oil from cannabis usually involves machinery that is both expensive and dangerous (due to the use of flammable and explosive oils), and even with the most experienced of marijuana extraction technicians on your side will likely take several hours before finishing the extraction process.
Green Point’s working prototype has not only been proven to be safe and easy to use, but has also been shown to produce above-average quality cannabis, due to its unique method of cannabis oil extraction and evaporation.
The product comes with a simple mobile app which controls the machine, allowing users to create different mixtures and tinctures according to their personal preferences.
Green Point CEO and founder Ben Leibusher spoke to The Jerusalem Post on Monday, explaining that cannabis oil’s greatest strength is its versatility.
“Cannabis
oil is like Silly Putty,” he said. “You can ingest it through your
food, through your drink, through drops that you take orally or through
vaporization, all of which are significantly healthier alternatives to
smoking.”
 |
| Green Point CEO and founder Ben Leibusher |
He explained that most cannabis users in Israel (around 70%, according to Leibusher) prefer to ingest the drug by smoking, but that if legalization were to happen in the coming years (as is expected, considering the overwhelming consensus in favor of the move in the last Knesset), that trend could very quickly be reversed.
“When looking at countries that have chosen to legalize recreational cannabis, you can see the shift from smoking to oils happening. In every country that has done so, within around two to three years from the time the market is regulated, oils begin taking up north of 50% of the share of users.
“It may feel a bit pretentious to even say this, but Green Point today is around where Nespresso was 20-25 years ago, because we are pioneers in what we do,” Leibusher said.
He said that it doesn’t matter that other products exist (or are in production) for home cannabis oil extraction, explaining that the company’s greatest strength is that “Green Point is the first home machine that can provide a complete personal experience for the user.”
Sputnik One says: This is a great idea & I wish them a great success as I firmly believe that medical cannabis is extremely good at treating a wide variety of ailments, neurological conditions, diseases & chronic pain and anything that will relieve suffering is more than welcome especially if the cannabis oil can be easily prepared at home. Note that I oppose the use of recreational cannabis which is a gateway drug to harder & more dangerous drug addiction.
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