FinancialBuzz.com News Commentary NEW YORK, April 20, 2022 /PRNewswire/ -- Due to the rapid pace with which the cannabis industry has grown and changed, there are concerns over possible cannabis abuse. One of the major concerns over cannabis abuse revolves around operating a vehicle while impaired. The National Institute on Drug Abuse highlighted that marijuana was the most common illicit drug found within the bloodstream of drivers who were involved in vehicle accidents, including fatal ones. As a result, companies within the cannabis marketspace have begun to develop the necessary technology for law enforcement agencies to use in crackdowns on drivers operating a vehicle while under the influence of marijuana. And, according to data by Mordor Intelligence, the global breathalyzer market was valued at about USD 812.53 Million in 2021, and is expected to reach USD 1275.031 Million in 2027 while registering a CAGR of 8.5% during the forecast period. Cannabix Technologies Inc. /zigman2/quotes/203462343/delayed BLOZF -1.25% /zigman2/quotes/206089806/delayed CA:BLO -2.60% , Ambev S.A. /zigman2/quotes/207921158/composite ABEV -1.69% , Cronos Group Inc. /zigman2/quotes/206842762/composite CRON +0.66% , Canopy Growth Corporation /zigman2/quotes/200603886/composite CGC -4.26% , Aurora Cannabis Inc. /zigman2/quotes/210559470/composite ACB -3.01% Additionally, the rising use of alcohol and prevalence of alcohol-related crimes and abuses around the world led to more stringent legislation for the comprehensive testing of alcohol levels by government agencies. It is a major factor in the widespread use of breathalyzers, and it is likely to be responsible for further growth as many countries still lack proper regulatory laws against alcohol and its abuse. For instance, according to the National Survey on Drug Use and Health's 2019 report, in the United States, 85.6% of people of age 18 years and over reported that they drank alcohol at some point in their life.
Cannabix Technologies Inc. /zigman2/quotes/203462343/delayed BLOZF -1.25% /zigman2/quotes/206089806/delayed CA:BLO -2.60% just announced breaking news that, "the Company has developed a cutting-edge Contactless Alcohol Breathalyzer for vehicle cabins. The prototype Contactless Alcohol Breathalyzer ("CAB") was developed by Cannabix after being approached by a Tier 1 global automobile parts manufacturing company seeking to source new technology that could be used in a contactless (no straw, no mouthpiece) method. The Company has entered into a non-disclosure agreement with the Tier 1 global automobile parts manufacturer. The first proof of concept prototype of the CAB has been developed for a vehicle cabin with specialized placement of such technology. Cannabix has used its years of experience in breath testing and breath capture technology for marijuana to rapidly develop a working CAB prototype, with a small enough footprint that could be developed for virtually any make or model vehicle. The Company has not entered into any contractual relationship for its CAB technology. The Company has filed a provisional patent application for its CAB technology.
The first CAB proof of concept prototype would allow for a driver to direct a breath sample towards a small orifice integrated into the cabin of a vehicle – in a completely contactless manner. The CAB is fundamentally different than existing alcohol interlock systems that require users to use a mouthpiece and directly blow into a handheld device that is connected to the vehicle usually with a cable. The Cannabix CAB has been designed for specific placement inside the vehicle cabin, however could be outfitted various locations in the vehicle cabin. The CAB provides a warning, pass or fail result along with a Blood Alcohol Content (BAC) level on the screen for the driver to see. This kind of technology holds potential to be integrated with interlock systems and be used in many settings including automotive, heavy-duty equipment including heavy transport vehicles, watercraft and workplace monitoring.
In the United States, the November 2021 Infrastructure Investment and Jobs Act (IIJA) passed by the House of Representatives called for new cars to come equipped with technology that will detect alcohol in breath. The legislation directs the National Highway Traffic Safety Administration to set new safety standards within three years for impaired driving safety equipment on all new vehicles [(1) (2)] .
Manufacturers such as Volvo have experimented with offering alcohol-detection systems as optional equipment. A public-private partnership called the Driver Alcohol Detection System for Safety (DADSS) project is also testing their own system.
Readers are cautioned that, although the Company has achieved proof of concept prototype for the CAB, the testing method and device is still in the preapproval stage and accordingly the Company is not currently making any express or implied claims that the technology will proceed to commercial use."
Ambev S.A. /zigman2/quotes/207921158/composite ABEV -1.69% through its subsidiaries, produces, distributes, and sells beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products in the Americas. The company operates through four segments: Brazil; Central America and the Caribbean; Latin America South; and Canada. For the full year 2021 the company reported the highest volume performance on record (15 million hectoliters versus 2020, 17 million hectoliters versus 2019 and more than 8 million hectoliters above 2014, the highest until now). In 4Q21, net revenue grew by 16.2% on top of another challenging comparable, achieving 33.2% when compared to 4Q19. Volumes grew by 0.8% versus 4Q20 and 8.6% versus 4Q19, with eight of our top-ten markets once again growing above 2019. NR/hl grew 15.2% driven by premiumization, innovation and revenue management initiatives.
Cronos Group Inc. /zigman2/quotes/206842762/composite CRON +0.66% announced last year, the launch of its SPINACH FEELZ™ Chill Bliss 2:1 THC|CBG gummy, the first cannabis edible of its kind in Canada to feature THC and cultured cannabigerol ("CBG") from fermentation in a sweet, delicious gummy for adult consumers. "Today we mark an incredible achievement for Cronos Group and the cannabis industry at large with the launch of the first cannabis edible in Canada to feature cultured CBG. This new product is truly a breakthrough in cannabis innovation," said Kurt Schmidt, President and CEO, Cronos Group. "We are delivering on our ultimate goal to introduce exceptional products that will unlock the full potential of cannabis and we look forward to bringing more rare cannabinoids to market under the SPINACH FEELZ™ sub-brand."
Canopy Growth Corporation /zigman2/quotes/200603886/composite CGC -4.26% announced on February 3rd, the extension of the Ace Valley brand portfolio, bringing two new beverages and hard candy formats to market. Marking the brand's first-ever beverage offerings, Daylight and Moonwave are occasion-based ready-to-drink THC and CBD-infused drinks designed to help consumers start and end their days. Newly launched Citrus Ginger Super CBD hard candies are the brand's first single 20mg CBD-infused hard candy product. "We're thrilled to bring the first infused beverage and hard candy format to the Ace Valley portfolio which continues to delight Canadian consumers with its roster of premium, ready-to-enjoy products," said Tara Rozalowsky, Interim Chief Product Officer. "We've developed our innovation pipeline to meet the evolving nature of how cannabis is consumed and the growing consumer demand for products used for different occasions and use cases."
Aurora Cannabis Inc. /zigman2/quotes/210559470/composite ACB -3.01% has announced on March 22nd, that the Company has reached an agreement to acquire all of the issued and outstanding shares of TerraFarma Inc. The Transaction is based upon aggregate consideration of $38 million (the "Initial Consideration") payable in cash and Aurora common shares, plus two earnout amounts payable in Aurora Shares or cash, if applicable, based on Thrive achieving certain revenue targets within two years of closing of the Transaction. "As consolidation among licensed producers accelerates, it's vital that any transactions we make, now or in the future, be strategic, accretive, and centred around adding exceptional talent and brands that align with our path to profitability," said Miguel Martin, Chief Executive Officer of Aurora. "In these respects, Geoff and the Thrive team have a track record seldom found elsewhere in the Canadian market. They are truly exceptional cultivators who have gained trust with consumers and developed products that have been recognized and acclaimed by Canadian budtenders and industry peers. We see a unique opportunity to leverage their expertise to deliver near and long-term benefits for both our recreational and medical markets," he continued.
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Is there a problem with this press release? Contact the source provider Comtex at email@example.com. You can also contact MarketWatch Customer Service via our Customer Center.
Copyright (C) 2022 PR Newswire. All rights reserved