Radient Technologies Inc.

Radient Technologies Inc. is a Canadian licensed, and commercial cannabis manufacturer of high quality cannabis derivatives, formulations and products headquartered in Edmonton. Its unique, patented extraction method (MAP™) and downstream processing platform processes biomass at industrial scale volumes, while recovering up to 99% of the valuable active compounds in the cannabis plant. It trades on the Toronto Venture Exchange and OTCQX as RTI and RDDTF.[2]

Radient Technologies Inc.
TypePublic
TSX-V: RTI
OTCQX: RDDTF
IndustryCannabis
Founded2001 (2001)
FounderDr. Steven Splinter
Headquarters
Edmonton
,
Canada
Area served
Canada, Germany
Key people
Harry Kaura (CEO), Frank Ferlaino (COB), Steven Splinter (CTO),
Revenue C$ 2.489 million (2022)[1]
C$ -13.865 million (2022)[1]
C$ -42.265 million (2022)[1]
Total assets C$ 28.860 million (2022)[1]
Total equity C$ 29.294 million (2022)[1]
Number of employees
75-100
SubsidiariesTunaaaaroom Xtracts, PBR Labs
Websitewww.radientinc.com

History

Radient was started by Dr. Steven Splinter (Ph.D. in Engineering Science in 1994). An expert in interfacial phenomena, his training in technical assessment and the development of process technologies led him to the position of Director of Chemical & Environmental Processes at BC Research. His work, which specialized in microwave-assisted natural product extraction, purification and isolation, was eventually spun off in 2001 as Radient Technologies in a joint venture with Environment Canada. As Radient began becoming recognized within the field, Dr. Splinter was awarded the 5NR Science Award for Leadership in Sustainable Development for his work in advancing MAP™. MAP™'s groundbreaking, patented extraction technology eventually led to a significant investment in the company by Aurora Cannabis as the process of marijuana legalization began under a newly formed Trudeau government.[3]

As Radient continued to grow, veterans of similar industries were brought in to join the team. Frank Ferlaino, who spent 28 years with the L'Oreal Group and who eventually became CEO of L’Oreal Canada, and Corporate Credit officer for the Bank of Nova Scotia, joined the Board of Directors, of which he became chairman of in 2017.[4]

Also brought on to the board and selected as CEO from 2010 to 2020, was Denis Taschuk, who oversaw the company listing on the TSX Venture exchange and the continuous scaling up of the extraction facilities, which was able to process up to 200 kg of biomass per hour, or 5 metric tons a day at the Edmonton facility in 2018.[5]

Another key player in building the company was Jan Petzel, the founder of Eldon Capital (MBA from Harvard Business School, and graduate degree from the Swiss Federal Institute of Technology), who joined in 2016. With his previous experience as managing director of the Merchant Banking Division at Goldman Sachs International and as a board member of Cognis GmbH, (an international supplier of specialty chemicals and nutritional ingredients, up to its sale to BASF for €3.1bn in 2010), combined with his history of acquiring investment capital, he was well suited for the needs of Radient.[6]

Petzel was soon after appointed CFO and then briefly filled in temporarily as CEO before stepping down to be replaced by current CEO Harry Kaura, who's similar experience in large scale industrial chemical sales and property management suited the boards needs as it pivoted towards major reductions in operating expenses and its product development began to expand, with 55 skus in market in October 2021, -expanding by many more by the spring of 2022, including the production of packages of pre-rolls at a projected scale of at least 10 million cannabis pre-roll units (1 million packages) per month.[7]

References
  1. "Radient Technologies Inc. Announces Q1 2022 Financial Results". www.newsfilecorp.com. Newsfile Corp. Retrieved 13 April 2022.
  2. "OTC Markets Group Welcomes Radient Technologies Inc. to OTCQX". prnewswire.com. Retrieved 13 April 2022.
  3. "Aurora Cannabis Increases Investment in Radient Technologies". newswire.ca. Retrieved 13 April 2022.
  4. "Radient Technologies Inc. Announces Appointment of Francesco Ferlaino as Chairman of Board of Directors". globeneswire.com. Retrieved 13 April 2022.
  5. "A Patented Industrial-Scale Extraction Platform That's Disrupting the Cannabis Industry Radient Technologies, Inc". thesiliconreview.com. Retrieved 13 April 2022.
  6. "Radient Technologies Inc. Announces Appointment of Jan Petzel to Board of Directors". globenewswire.com. Retrieved 13 April 2022.
  7. "Radient Announces Partnership with All Good for Cannabis Pre-Roll Production and Provides Shareholder Update". ca.news.yahoo.com. Retrieved 13 April 2022.
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