Israeli-based cannabis-tech company Nextage Cannabis Innovation LTD announces that it has agreed in principle to go into partnership with Israel’s Tempo Beverages LTD in order to explore and develop technologies that will one day bring cannabis-infused Pepsi and other various Tempo products, onto our supermarket shelves.

Nextage noted that this collaboration with, Heineken International owned, Tempo was a massive step forward in the development and normalization of cannabis-based products available for consumers. After all, Tempo is one of the biggest distributors of beverages, both alcoholic and nonalcoholic, with a strong backing behind them, therefore creating an ideal partner for an industry that is experiencing incredible growth over the past few years, and hasn’t even tickled its peak potential.

Abraham Dreazen, Nextage CEO, said: "We are very happy with the collaboration and see it as a significant and strategic milestone for Nextage. Tempo is an extraordinary force both in Israel and abroad and the entry of industrial companies at this level is critical to the cannabis industry..."

The two entities still have 90 days before the agreement goes into effect. However, if the deal goes through, look for the joint venture to establish a new firm, where the intellectual property is managed, and split 50/50. Although, with all the ongoing uncertainty we experience these days during the COVID-19 crisis, a move like this is done with the future in mind, as society transitions out of the more conservative perspective regarding cannabis-based products, it once held. Therefore, it’s reassuring for both sides that they have the same vision when looking further down the road.

In addition to a combined vision, with Tempo being a leading Israeli beverage company, there’s already a common ground between the two companies, as Nextage Board of Directors includes Jacob Ripstein, who is former President of Apria and served as CFO for the North American beverage giant, Diageo. This means that when it comes to commercialization of beverage products, both are speaking a similar language.

"...The cannabis-integrated food and beverage market has been growing tremendously in recent years but without a single signature brand standing out above all. We believe that Nextage's technological innovation combined with Tempo's capabilities and experience will be a major force in the industry. This is the first of local and international collaborations Nextage is striving to generate that will bring together accomplished and experienced companies in various fields to join forces in the development and promotion of groundbreaking innovation," Dreazen continued to add.

Cannabis-tech company Nextage, which was founded by Israeli pharmaceutical company Nextar, is expecting actually in the coming days to merge with publicly-traded company Micromedic. The Israeli cannabis startup brings extensive experience in the development of pharmaceuticals, as well as a strong network of collaboration with food and cosmetic companies, raw material suppliers, technologies, and others.