Thursday, February 1, 2018

EVIO, Inc. (EVIO) Provides a Critical Service to the Regulated Cannabis Industry

  • EVIO is a leading accredited provider of analytical services to the regulated cannabis industry
  • The company currently operates nine laboratories in five states
  • EVIO is on track to open 18 labs around the U.S. by the end of 2018
EVIO, Inc. (OTCQB: EVIO) provides clients across the United States with consistent, high-quality cannabis analytical services. Backed by a stringent quality control assurance program, the company’s laboratory division, EVIO Labs, is the leading provider of accredited analytical testing, scientific research and advisory services to enterprises in the U.S. regulated cannabis industry. The ancillary services provided by EVIO Labs are state-mandated, requiring the company to ensure the safety and quality of cannabis supplied throughout the nation.
Over the past two years, EVIO Labs has performed more than 50,000 tests, mostly consisting of analysis and testing of cannabis and industrial hemp-based flower, extracts and infused products. The company has grown from one laboratory in Oregon to nine labs in five states, including California, Colorado, Florida, Massachusetts and Oregon. EVIO Labs is on track to open 18 laboratory facilities at other locations around the United States by the end of 2018. Apart from its analytical services, the company provides advisory services to help cannabis producers and retailers enhance production processes, meet quality goals and achieve regulatory compliance.
EVIO Labs has built up its leading position in cannabis biotechnology by leveraging the extensive experience of its scientists and management team. The company’s laboratories specialize in performing analysis for cannabinoids, terpenes and pesticide residues. They also conduct tests for moisture content, as well as the detection of heavy metals and harmful residual solvents from the cannabis extraction process. EVIO Labs has extensive experience in product research and development, analytical chemistry techniques and the cultivation and production of medical cannabis. The company’s management team has a solid track record in designing and rolling out successful business ventures, ensuring conformance to regulatory and compliance standards.
On December 26, 2017, EVIO announced that its Colorado licensee, PhytaTech CO, had attained ISO 17025 accreditation, the highest recognized quality standard for calibration and testing laboratories. Adherence to this standard requires consistent precision and accuracy of testing, and the implementation of a rigorous quality management system. In early January 2018, EVIO acquired a 60 percent stake in C3 Labs, LLC, located in Berkley, California, with an option to purchase the remaining shareholding over the next three years.
In releasing this news, EVIO’s CEO, William Waldrop, stated, “C3 Labs generated over $1M in consulting revenues during the last two years. EVIO plans to continue offering these services along with traditional compliance testing. The 8,000 square foot facility is already outfitted with the latest analytical testing equipment, and will become our Northern California hub laboratory… Demand for testing services is expected to increase significantly as the state rolls out its adult-use marijuana market.”
On January 3, 2018, EVIO announced the appointment of Al Lustig as its new president, reporting to Waldrop. Lustig has a track record of success in sales management and corporate growth at Pfizer, one of the world’s largest biopharmaceutical companies. He will be tasked with driving company growth, as well as developing and executing both national and international sales, and operational strategies. EVIO also appointed a new vice president of operations, Ron Russak, on January 29, 2018. Russak had regional operational responsibility, during a 17-year career with Quest Diagnostics, for 529 patient service centers and 228 inter-office phlebotomy sites in the U.S. He will play a major role in driving the expansion of the company’s laboratory operations.
With its established reputation for accredited analytical, research and development, and advisory services, EVIO is poised to expand its operations across North America. Recent key appointments have strengthened the management team to ensure that the company is well positioned to capitalize on the rapidly growing cannabis industry.
For more information, visit the company’s website at www.EVIOLabs.com
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