CBD firm Mile High Labs opens London office after rapid growth
A Colorado-based CBD manufacturer, which opened its European headquarters in Belfast in March, has now opened a London office after a period of rapid growth.
Mile High Labs International Limited, the world's largest processor of hemp-derived cannabidiol (CBD), now employs 23 UK staff, with 15 based at the Belfast office and eight in London.
Its Belfast office is a distribution centre for UK and EU customers.
The CBD products it supplies can be used in medical applications such as the treatment of pain.
The company began in 2016 with just one employee and now employs more than 200 in Colorado.
John Wallace, managing director and head of operations at Mile High Labs International, said the company is benefiting from a rapidly expanding market.
"We're delighted to announce our expansion after our first six months of trading here in the UK," he added.
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"When we established our Belfast operation, we knew that we had a quality product and that the market in the UK and Europe was growing.
"However, even we have been surprised by the speed of our growth both in terms of sales and in personnel.
"Our manufacturing processes, our investment in regulatory adherence and our industry-changing levels of customer service are standing us in good stead, and I would like to personally thank those who have supported us in our formative times."
CBD is the non-psychoactive element of the cannabis plant, while isolate refers to its purified form. CBD remains legal in the UK so long as it does not contain THC, the component which produces the cannabis "high".
According to the Brightfield Group, the CBD market is projected to reach £17bn by 2022.