As seen at: https://www.globenewswire.com/news-release/2019/12/09/1957991/0/en/solo-sciences-and-14th-Round-Team-Up-to-Protect-Consumers-from-Counterfeit-Products.html
Agreement Brings Unique Verification Technology to Over 40% of CA Vaporizer Market
DENVER, Dec. 09, 2019 (GLOBE NEWSWIRE) -- solo sciences, an Akerna company (Nasdaq: KERN), the world’s first cryptographically-secured product authentication system, has entered into an agreement with leading cannabis design and technology firm, 14th Round to add its solo*CODE authentication tag to its vaporizer brands. The deal further advances solo’s efforts to address regulatory compliance throughout the entire supply chain, enhancing product safety for consumers.
Thanks to this collaboration, solo sciences trust mark authentication will be a default feature for 14th Round’s high-profile cannabis vaporizer brands. 14th Round creates and supplies custom hardware and packaging for an estimated 40 plus percent of California’s vaporizer market, the largest in the world. 14th Round is also the number one vaporizer and packaging supplier in North America.
“Through this collaboration, we intend to set a standard the whole industry can embrace,” said 14th Round CEO, Trent Overholt. “It became clear to both of us that anti-counterfeiting wasn’t a nice-to-have, but rather a necessity for consumer safety, much like how seatbelts and airbags became default features in properly designed and engineered cars.”
The legal cannabis industry has grown substantially in recent years, yet dangerous counterfeit products remain a threat to the safety of both recreational and medicinal users. solo sciences’ technology solves this by restricting counterfeiters’ ability to create fake packaging. Unlike other authentication technologies, the solo*CODE™ — a unique identifying mark — can be applied to any pre-existing product without the need for packaging redesign. Consumers scan the solo*CODE with a proprietary app that decrypts it to verify product authenticity and provide consumers with detailed product information. The app also provides discount opportunities and the ability to discover new products available in stores.
“To support this nascent legal industry's continued growth, companies must collaborate with one another and government regulators to implement solutions that put customer safety first,” said solo sciences Founder and CEO, Ashesh (Alex) Shah. “We are proud to be working with the leading platform 14th Round, who, like us at solo sciences, find product quality, consistency, and safety to be paramount.”
On November 26, Akerna, a leading cannabis compliance technology provider and developer of the cannabis industry’s first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®), announced it has taken a majority stake in solo sciences. The investment in solo and the deal with 14th Round strengthen Akerna’s efforts to create the pre-eminent global technology to address the entire supply chain and its regulatory bodies through accountability and transparency.
To learn more about how solo sciences groundbreaking technology enables consumer safety from counterfeit cannabis products, visit: solosciences.com.
Akerna is a global regulatory compliance technology company in the cannabis space. Akerna’s service offerings include MJ Platform®, Leaf Data Systems®, and solo sciences tech platform. Since its establishment in 2010, the company has tracked more than $16 billion in cannabis sales. As part of its business strategy, Akerna intends to grow through targeted, strategic acquisitions that are complementary to its current business and organically by accelerating its product development efforts. Akerna is based in Denver. For more information, please visit www.akerna.com.
About solo sciences
solo sciences, an Akerna company, provides next-generation anti-counterfeiting technology fused with a direct communication system between brands and consumers via solo*, its proprietary technology offerings, comprised of solo*TAG™ for supply-chain validation, a consumer-facing solo*CODE™ cryptographically secure trust mark, patented solo* mobile-first app, solo*ID®, and AI-driven backend system. The solo sciences mission is to build confidence and establish trust among consumers while enabling retailers and distributors to close the loop with creators and producers. For more information, visit solosciences.com.
About 14th Round
14th Round Inc. is the design and technology company that’s building the best brands in cannabis. With a full suite of services including custom vaporizer technology design and manufacturing, branding, and retail packaging solutions that are certified child-resistant, their client roster of brands leads the industry in the United States and Canada. For more information, please visit www.14thrnd.com.
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