VAN NUYS, Calif., March 30, 2022 /PRNewswire/ — Eco Innovation Group, Inc. (OTC: ECOX) (“ECOX” or the “Firm”), an revolutionary company building new green energy remedies, is pleased to update present and future shareholders as the Company’s supercritical Glycerin Extraction Technological innovation (“GET”), an state-of-the-art hashish extraction system, advances by way of the United States Patent and Trademark Office environment (USPTO) when a essential bill considering federal legalization of hashish heads towards a vote in the United States Residence of Associates this 7 days.
As announced by the Business in its release dated March 17, 2022, Eco Innovation Group not too long ago acquired a Detect of Allowance from the USPTO for its patent masking methods of extraction of plant supplies acquired applying the GET technique, which has been exclusively licensed to ECOX by Glytech, LLC (“Glytech”).
“The GET technique is an update of the technologies horizon for developing superior high-grade plant extracts with a provable reduction in costs, as very well as time and vitality, through the extraction system, which has tremendous implications for the cannabis goods sector,” stated Julia Otey-Raudes, CEO of Eco Innovation Group. “As we move toward full IP protection to accompany our special license legal rights for this subsequent-era extraction know-how, we feel legislative momentum is a tailwind for the cannabis market, and we applaud lawmakers who are serving to to travel progress and deliver for far more fairness and greater obtain.”
The Cannabis Option, Reinvestment and Expungement Act (the “Extra Act”) is a invoice sponsored by Dwelling Judiciary Committee Chairman Jerrold Nadler (D-NY) that is up for a vote to crystal clear the United States Residence of Representatives as early as this week. The monthly bill essentially aims to take out cannabis from the record of federally controlled substances, which could open up the door for accurate federal legalization of cannabis in the United States. On the other hand, the bill would not demand states to legalize hashish but would go away regulatory discretion up to states.
At the very same time, the Protected and Good Enforcement (Safe and sound) Banking Act (H.R. 1996), sponsored by Rep. Ed Perlmutter (D-CO), is now up for consideration in the Senate with a model that was reintroduced on March 23, 2021, and is sponsored by Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT), with 180 present cosponsors. The Secure Banking Act would create protections for fiscal institutions that supply fiscal providers to condition-legal cannabis enterprises, providing smaller and minority-owned cannabis businesses access to financial institutions and controlled financial products and services.
Administration views these measures as vital methods in leveling the enjoying industry for shoppers and enterprises as the GET system moves toward business launch, which is now planned for Q4 2022 or early 2023.
The GET system’s plant extraction approach claims to cut down waste from vaping cannabis and to offer better standardization of extracts in products and solutions. In contrast to present-day technological innovation in the market, this technology utilizes a non-CO2 solvent and cofactors to extract selected bioactive compounds from plant components. The final result is an extracted fluid top-quality in viscosity to the output of present-day CO2-based mostly extraction procedures, while streamlining time, vitality, and funds charges.
The GET method was coated by Chemical Engineering magazine past year.
Otey-Raudes added, “This know-how – our exceptional technological know-how – promises to generate more substantial yields with bigger resource efficiency even though building a lot more regular, standardizable concentrations of target compounds. This regularity is a large aspect. It indicates consumers stand to get goods with the same potency each and every time, which is not the scenario with existing methods in use nowadays, together with supercritical CO2. We anticipate this technology will crank out lessen overhead prices to manufacturers when developing much better total yields and larger shopper fulfillment. In a maturing business with expanding access, this is paramount.”
About Eco Innovation Team
Eco Innovation Group was founded by Inventors and Business Experts to assist nurture and catalyze the most progressive and impactful products and providers, and to deliver all those improvements to the environment, increasing the high-quality of existence in our communities and the world close to us, though providing worth to our shareholders.
At ECOX, we are devoted to building and commercializing productive products and solutions. But we will never reduce sight of the simple fact that we exist, first and foremost, to assist people today and improve daily life on the planet we all share. We consider our Social Accountability Agreement very seriously in all our endeavors. It is not only what we do. It is who we are. For far more info, stop by www.ecoig.com.
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