Radient Technologies Inc. is a Canadian licensed commercial manufacturer of

cannabis ''Cannabis'' () is a genus of flowering plants in the family Cannabaceae. The number of species within the genus is disputed. Three species may be recognized: '' Cannabis sativa'', '' C. indica'', and '' C. ruderalis''. Alternativel ...

derivatives and products, headquartered in

Edmonton Edmonton ( ) is the capital city of the Canadian province of Alberta. Edmonton is situated on the North Saskatchewan River and is the centre of the Edmonton Metropolitan Region, which is surrounded by Alberta's central region. The city anc ...

. It trades on the

Toronto Venture Exchange The TSX Venture Exchange is a stock exchange in Canada. It is headquartered in Calgary, Alberta, with offices in Toronto, Vancouver, and Montreal. All trading through the Exchange is done electronically, so the Exchange does not have a "trading f ...

and

OTCQX OTC Markets Group (previously known as Pink Sheets) is an American financial market providing price and liquidity information for almost 10,000 over-the-counter (OTC) securities. The group has its headquarters in New York City. OTC-traded sec ...

as ''RTI'' and ''RDDTF''.

History

Radient was started by Dr. Steven Splinter in 1994. His work 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 in microwave-assisted natural product extraction, purification and isolation, was eventually spun off in 2001 as Radient Technologies in a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...

with Environment Canada. The company says that its patented

extraction Extraction may refer to: Science and technology Biology and medicine * Comedo extraction, a method of acne treatment * Dental extraction, the surgical removal of a tooth from the mouth Computing and information science * Data extraction, the pro ...

technology Microwave Assisted Processing (MAP) extracts a higher amount of the desired

cannabinoid Cannabinoids () are several structural classes of compounds found in the cannabis plant primarily and most animal organisms (although insects lack such receptors) or as synthetic compounds. The most notable cannabinoid is the phytocannabinoid tet ...

s from the leaf, and that that the process allows it to heat the cannabis biomass with more precision, using less

solvent A solvent (s) (from the Latin '' solvō'', "loosen, untie, solve") is a substance that dissolves a solute, resulting in a solution. A solvent is usually a liquid but can also be a solid, a gas, or a supercritical fluid. Water is a solvent for ...

than the methods being used by other companies, with higher throughput and improved

economies of scale In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of time. A decrease in cost per unit of output enables a ...

. Frank Ferlaino, former

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especiall ...

of L’Oreal Canada and corporate credit officer for the

Bank of Nova Scotia The Bank of Nova Scotia (french: link=no, Banque de Nouvelle-Écosse), operating as Scotiabank (french: link=no, Banque Scotia), is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. One of Canada ...

, joined the company's board of directors, of which he became chairman of in 2017. Denis Taschuk was brought onto the board and was CEO from 2010 to 2020, overseeing the company's listing on the

TSX Venture Exchange The TSX Venture Exchange is a stock exchange in Canada. It is headquartered in Calgary, Alberta, with offices in Toronto, Vancouver, and Montreal. All trading through the Exchange is done electronically, so the Exchange does not have a "trading f ...

and the scaling up of the extraction facilities, which was able to process up to 200 kg of

biomass Biomass is plant-based material used as a fuel for heat or electricity production. It can be in the form of wood, wood residues, energy crops, agricultural residues, and waste from industry, farms, and households. Some people use the terms biom ...

per hour, or 5 metric tons a day at its Edmonton facility in 2018. Jan Petzel, the founder of Eldon Capital, joined in 2016. He was previously managing director of the Merchant Banking Division at

Goldman Sachs International Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, Hong ...

, and was a board member of

Cognis Cognis was a worldwide supplier of specialty chemicals and nutritional ingredients, headquartered in Monheim am Rhein, North Rhine-Westphalia, Germany. The company employs about 5,600 people and operates production or service centers in almost ...

GmbH. Petzel was soon after appointed

CFO The chief financial officer (CFO) is an officer of a company or organization that is assigned the primary responsibility for managing the company's finances, including financial planning, management of financial risks, record-keeping, and financi ...

, and then was temporarily the CEO before stepping down to be replaced by current CEO Harry Kaura. During this time, RTI made significant reductions in

operating expense An operating expense, operating expenditure, operational expense, operational expenditure or opex is an ongoing cost for running a product, business, or system . Its counterpart, a capital expenditure (capex), is the cost of developing or provi ...

s and expanded its

product development In business and engineering, new product development (NPD) covers the complete process of bringing a new product to market, renewing an existing product or introducing a product in a new market. A central aspect of NPD is product design, along ...

, with 55 skus in market in October 2021, expanding 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. In 2017

Aurora Cannabis Aurora Cannabis Inc. is a Canadian licensed cannabis producer, headquartered in Edmonton. It trades on the Toronto Stock Exchange and Nasdaq as ACB. As of late September 2018, Aurora Cannabis had eight licensed production facilities, five sales l ...

made an investment of $6.2 million in the company. The company earned $2.4 million in sales in 2021. On March 21, 2023, Radiant Technologies Inc. files for limited receivership.

References

External links

* {{DEFAULTSORT:Radient Technologies Canadian companies established in 2001 Cannabis companies of Canada Cannabis in Alberta Companies listed on the TSX Venture Exchange Medicinal use of cannabis organizations