Two Colorado Companies Join Forces to Expand Cannabis Extraction Technology Development and Equipment Sales
WHEAT RIDGE, Colo.–(BUSINESS WIRE)–Oct 1, 2020–
ExtractionTek Solutions (ETS) and Pinnacle Stainless, two Colorado-based innovators in cannabis extraction technology, equipment design and fabrication, are pleased to announce they are merging operations, effective Jan. 1, 2021. The company will operate under the name ExtractionTek Stainless, Powered by Pinnacle.
The merger brings together expertise in closed-loop hydrocarbon and ethanol extraction methodologies, and allows the companies to centralize all equipment design with in-house fabrication, all of which will facilitate business expansion. As a result of this merger, the company projects combined revenues of $45 million in 2021. Company leadership plans to maintain current staffing levels.
“As the cannabis space continues to grow more competitive, we understand that combining our forces is the path forward to achieve a level of synergy impossible alone. ExtractionTek Solutions brings industry-leading hydrocarbon extraction technology, and Pinnacle offers expertise in ethanol extraction, excellent fabrication capability and an advanced