TILT Holdings (TILT.C) subsidiary Jupiter Research acquired their ISO certification of its quality management system for medical devices earlier this week, according to a press release.
Here’s what ISO certification does and what it means:
“ISO certification certifies that a management system, manufacturing process, service, or documentation procedure has all the requirements for standardization and quality assurance. … ISO standards are in place to ensure consistency. Each certification has separate standards and criteria and is classified numerically.”
Specifically, the certification’s full title is ISO 13485:2016, and it involves the latest development in the company’s inhalation business beyond adult-use products, giving Jupiter the ability to enter the U.S. and European medical cannabis markets with their medical-grade inhalation devices.
“This is an important milestone for Jupiter, expanding growth opportunities by enabling the development of inhalation devices designed specifically for the medical cannabis community and continuing to open doors for entry into the European medical marijuana market. With ISO certification, we are setting higher standards and providing customers with peace of mind, knowing our devices are manufactured using an even more controlled and supervised process,” said Mark Scatterday, CEO of Tilt Holdings.
TILT’s primary focus is on helping cannabis business build brands. They have a portfolio of companies which provide tech, hardware, cultivation and production, and they serve these brands and retailers among others across 35 states in the U.S., as well as Canada, Israel, Mexico South America and the European Union. Their core businesses include Jupiter, as well as Commonwealth Alternative Care in Massachusetts and Standard Farms in Pennsylvania.
Tilt Holdings represents a rarity in early 2021—a cannabis company experiencing success, even if it is the potential for short-term success. They’ve nearly doubled in price since December, having rebounded from their early December low of $0.30 to where they are today at $0.58.
The United States cannabis market is expected to grow by 20% annually, exceeding $80 billion in sales by 2027, according to Data Bridge Market Research. In Europe, Alliance Group Partners anticipates Germany to become a multi-billion dollar market by 2025. Jupiter intends to establish themselves as a developer and provider of quality vape technology both nationally and abroad as these markets expand.