Technological Advances Help Better Regulate Cannabis and Alcohol Consumption
FinancialBuzz.com News Commentary
NEW YORK, Oct. 17, 2022 /PRNewswire/ -- The cannabis industry has grown rapidly in recent years, and as a result 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. (OTC: BLOZF) (CSE: BLO), Molson Coors Beverage Company (NYSE: TAP), Anheuser-Busch InBev (NYSE: BUD), Canopy Growth Corporation (NASDAQ: CGC), Aurora Cannabis Inc. (NASDAQ: ACB)
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. (OTC: BLOZF) (CSE: BLO) just announced breaking news that, "the Company has developed a cutting-edge Contactless Alcohol Breathalyzer for workplaces and vehicles. Cannabix engineers have developed a suite of Contactless Alcohol Breathalyzer ("CAB") offerings that include a wall-mounted and in-vehicle (behind the steering column) versions. Cannabix has used its years of experience in breath testing and breath capture technology to rapidly develop its CAB advanced prototypes for a host of applications to increase safety. The Company has posted a video on its new CAB technology available for viewing at its website at cannabixtechnologies.com/technology/contactless-alcohol-breathalyzer. The Company is seeking potential partners to commercialize its CAB technology.
The wall mounted CAB would be targeted for employers needing to deploy a pre-access test for alcohol consumption before and during work hours in a fast and cost-effective way. The CAB technology allows for a user to direct a single breath sample towards a small orifice integrated into a wall mounted unit (for indoor use) and behind the steering wheel for in-cabin vehicle use – in a completely contactless manner. The CAB is fundamentally different than existing alcohol breathalyzers and interlock systems that require users to use a mouthpiece or straw and directly blow into a handheld device that is connected to the vehicle usually with a cable. The Cannabix CAB could be integrated into 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 various settings including automotive, heavy-duty equipment, heavy transport vehicles, watercraft and motorbikes. Furthermore, the device could be used in bars, restaurants and hotels for both patrons and employees.
Vehicle Alcohol Breath Screening
The Company has developed its CAB technology in response to interest in new vehicle alcohol detection technologies. In September, the National Transportation Safety Board (NTSB) issued a recommendation that all new vehicles be equipped with technology that would prevent a person impaired by alcohol from driving (1) . In November 2021, the U.S. House of Representatives, passed the Infrastructure Investment and Jobs Act (IIJA) which 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 (2) (3).
Manufacturers such as Volvo have experimented with offering alcohol-detection systems as optional equipment.
- https://www.ntsb.gov/news/press-releases/Pages/NR20220920.aspx
- https://www.iihs.org/news/detail/alcohol-detection-systems-could-prevent-more-than-a-fourth-of-u-s-road-fatalities
- https://www.madd.org/press-release/auto-technology-that-stops-drunk-driving-now-required-by-law
Readers are advised 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."
Molson Coors Beverage Company (NYSE: TAP) has expanded its exclusive agreement with The Coca-Cola Company to develop and commercialize a brand of full-flavor alcohol beverages inspired by the country's #1 chilled juice brand, Simply®. The deal marks another milestone in the relationship between Molson Coors and The Coca-Cola Company, following a successful first year for Topo Chico® Hard Seltzer. "Over the past two years, we've seen success by shaking up existing categories with new brands that have clear, compelling points of difference, like Coca-Cola's Topo Chico® Hard Seltzer, Vizzy Hard Seltzer and ZOA Energy Drink," said Michelle St. Jacques, Molson Coors' Chief Marketing Officer. "Now, we have a huge opportunity to leverage the power of Simply® – a brand known for real juice and big flavor – to disrupt the full-flavor alcohol segment in a way that's never been done before."
Anheuser-Busch InBev (NYSE: BUD) brand Budweiser and FIFA World Cup™ Sponsor, has debuted on September 15th, a global rallying-cry for fans: "The World is Yours to Take." In partnership with international football icons Lionel Messi, Neymar Jr., and Raheem Sterling, Budweiser will launch its FIFA World Cup campaign in more than 70 countries, the most in the brand's 146-year history. "As sponsor of the FIFA World Cup for more than 30 years, we wanted to capture the infectious global energy of football fans everywhere to encourage people to find the conviction to go for greatness, no matter what the journey to get there might look like," said Todd Allen, Global Vice President of Marketing, Budweiser. "Determination to overcome challenges in the name of achieving greatness, like we've seen countless times from Messi, Neymar Jr., and Sterling, is an inspiration to us and to fans around the world. We hope our new campaign reminds fans that no matter what stands in your way, the world is yours to take."
Canopy Growth Corporation (NASDAQ: CGC ) 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. (NASDAQ: ACB ) 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.
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