Infinite Chemical Analysis Labs Reports Milestone Growth Year in 2020 and Further Expansion
San Diego-based Testing Lab Continues to Expand Following Grand Opening of Secondary Michigan-based Facility
SAN DIEGO, CA - (NewMediaWire) - November 23, 2020 - Infinite Chemical Analysis Labs (“InfiniteCAL” or “the Company”), a full-service analytical testing lab for the cannabis and hemp industries, announced today that the Company has reported a 31% increase in revenue through the first three quarters of 2020 in comparison to the first three quarters of 2019. The continued growth is a result of an increase in demand due to cannabis being deemed an essential business this year prompting the need for new hires to the team, the launch of the Company’s second lab based in Jackson, Michigan, and plans for a larger lab in San Diego to increase customer intake set to open in early 2021.
Since the height of the global pandemic in March, InfiniteCAL has added nine employees to their team noting key hires including Lab Managers Andy Sattler, Ph.D. and Joe Maricelli, Ph.D., and Lab Director David Egerton at the Jackson facility and Senior Analyst I Erik Paulson, Ph.D. at the San Diego facility. In addition, the Company has built out a communications team to better serve clientele, handle intake, and respond to real-time regulatory and compliance developments within the cannabis space.
InfiniteCAL’s Michigan based lab, which launched in August, is the second lab in the state to hold adult-use licensing and is on track to seize 50 percent of the market share after just three months in operation. The Company plans to increase its revenue in Michigan by 25% month over month.
“InfiniteCAL is proud to be on the frontlines of cutting edge science and protocols within the cannabis laboratory testing space,” said InfiniteCAL Co-founder and CEO Joshua Swider. “We have recruited top talent and implemented validated methods and procedures to best support operators with their testing needs. Expanding our operations from California into the recently created adult-use market in Michigan allows even more consumers to access safe and compliantly tested cannabis products. We look forward to continuing to enhance our operations as we enjoy further growth in 2021 and beyond.”
In 2021, the Company plans to move its headquarters into a new facility slated to be one of the largest cannabis testing labs in the state of California. The new lab, which is designed and built by InfiniteCAL’s co-founder and CEO Josh Swider, is projected to help the Company to serve three times its current sample volume.
According to Coherent Market Insights, the US Cannabis Testing Services Market was valued at US$ 127.7 million in 2019 and is expected to exhibit a CAGR of 15.7% over the forecast period (2019 – 2027). Furthermore, the US Cannabis Testing Services Market is expected to account for major revenue share over the forecast period, owing to the rising number of patients opting for medical marijuana.
For more information about Infinite Chemical Analysis Labs, visit https://infinitecal.com/.
About Infinite Chemical Analysis Labs
Infinite Chemical Analysis Labs offers a wide range of quality assurance analyses in addition to state compliance testing to uphold brands to the highest standards for premium products. InfiniteCAL believes the purpose of quality assurance and compliance testing is for public safety. The Company holds scientific integrity above anything else and delivers consistent and factual results for all clients.