Reflect Scientific - Resurgence in the Cannabis Market

Rhea-AI Summary

Reflect Scientific, Inc. (RSCF) announces signs of market improvement for its Cryometrix solvent chillers used in cannabis processing. Following pandemic-related downturns, the CBD market is rebounding, with forecasts indicating a CAGR of 21.2% from 2021 to 2028. CEO Kim Boyce noted a resurgence in orders as the market recovers. The patented L-80 MAX and LITE chillers efficiently extract cannabinoids and terpenes from raw cannabis while discarding unwanted materials. The company develops innovative cryogenic cooling technologies targeted at various industries, including biotechnology and pharmaceuticals.

Positive

• Indications of recovery in the CBD market following the pandemic.
• Predicted growth of the cannabidiol market at a CAGR of 21.2% from 2021 to 2028.
• New orders for Cryometrix chillers as the market reopens.
• Field-proven solvent chillers designed to efficiently extract active compounds from cannabis.

Negative

• None.

OREM, Utah, July 12, 2021 (GLOBE NEWSWIRE) -- Reflect Scientific, Inc. (Symbol: RSCF), a provider of diverse products and services for the biotechnology, pharmaceutical, and transportation industries, is looking at indications of an improved marketplace for the Cryometrix solvent chillers used to process the raw cannabis plant material.

The covid-19 pandemic put a lot of markets on hold, but many are beginning to rebound. The CBD market is one of them, and Reflect Scientific is riding the recovery wave. One report indicates the global cannabidiol market will expand at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028. The patented Cryometrix L-80 MAX and LITE solvent chillers are designed to process raw cannabis plant materials rapidly. The chilled solvent selectively and efficiently extracts the active cannabinoids and terpenes from the plant material leaving behind the chlorophyll and waxes. Mr. Kim Boyce, CEO of Reflect Scientific Inc., commented, “The solvent chillers are field-proven and were taking off when the pandemic hit. We see new orders for these products as the market starts back up. I believe there will be a strong recovery.”

About Reflect Scientific, Inc.
Reflect Scientific, Inc., based in Orem, Utah, develops and markets innovative, proprietary technologies in cryogenic cooling for the biotechnology, pharmaceutical, medical, and transportation markets. Among Reflect Scientific’s products are low-temperature freezers and refrigerated systems for laboratory, transportation, and computer server room uses. Visit www.reflectscientific.com for more information. See us on Twitter @ReflectSci and LinkedIn www.linkedin.com/company/reflect-scientific.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of the disclosures contained in the filings of the Company that are contained in the OTC Markets Group, LLC under the trading symbol “RSCF” and related prior filings by the Company that are referenced therein and contained in the EDGAR Archives of the Securities and Exchange Commission under the heading “Disclosure,” including those identified in such filings as “forward-looking statements.”

FAQ

What is the significance of RSCF's Cryometrix chillers in the cannabis market?

RSCF's Cryometrix chillers are crucial for efficiently extracting cannabinoids and terpenes, making them vital in the recovering cannabis market.

What growth rate is projected for the cannabidiol market?

The global cannabidiol market is projected to expand at a CAGR of 21.2% from 2021 to 2028.

How has the pandemic affected RSCF's business operations?

The pandemic initially hindered market activity, but RSCF reports a resurgence in orders as the market begins to recover.

What are the key products offered by Reflect Scientific, Inc.?

Reflect Scientific offers innovative cryogenic cooling technologies, including the Cryometrix L-80 MAX and LITE solvent chillers.

When was the press release about RSCF issued?

The press release regarding RSCF was issued on July 12, 2021.