Extreme Biodiesel Inc (OTCMKTS:XTRM) announced that its wholly owned subsidiary firm is designing a cannabis and hemp oil extractor. It expects the production of the residential cannabis and hemp oil extractor by the last quarter of this year.
The oils derived from medical marijuana and hemp is in demand. However, the current procedures used are quite dangerous and provides non-consistent results. They are even expensive and beyond the reach of consumers. The research being performed by Dr. Rainer Busch is being utilized to plan methods that the company believes will provide consistent results. They will even be safe to use and cost-effective for customers. Extreme biodiesel stated that the unit being designed by XTRM doesn’t no make use of liquid butane or other procedures under scrutiny.
The expert view
Company President Joseph Spadafore said that Extreme Biodiesel and its subsidiary is very delighted to enter the growing market that they feel holds huge potential on a residential level. Extreme has developed successful and effective residential products related to oil refinery and biodiesel in the past.
The management intends on utilizing the expert team’s knowledge along with ongoing research data to produce small easy to use units for consumers desiring quality oil derived from Cannabis and hemp. Some current devices and methods used in the market are downright complex and dangerous. The objective is to work towards a device that permits users to derive quality oils in a simple and safe way. The company will be updating its website to showcase the new product and other unique products in the coming weeks. The final pricing will be decided when the subsidiary firm commences taking pre-orders of devices later in 2015.
In last trading session, the stock price of Extreme Biodiesel gained 2.44% to close the trading session at $0.00420. The gains came at a share volume of 19.15 million compared to average share volume of 3.38 million.