Jonah Barber is the co-founder of MRX Xtractors. Learn how profitable cannabis oil extraction can be and the different business models available to those in the business or entering this business.
– From lab testing flower to extraction company
– A lot of oil on the market is not good, here’s why
– The profit margin on a gram of extracted cannabis oil
– Throughput from different extraction machines
– The different business models in extraction
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As the cannabis market continues to grow around the world, there's an increased focus on extraction, and for good reason. Extracted cannabis oil is arguably the most profitable and integral ingredient for cannabis companies. Here to tell us more about the extraction industry and his extraction solutions is Jonah Barber from MRX Xtractors. Jonah, welcome to CannaInsider.
Jonah: Thanks, Matt. It's great to be here. Really excited to speak with you today.
Matthew: Give us a sense of geography. Where are you in the world today?
Jonah: In the beautiful green state of Oregon. Specifically, Canby, Oregon, which is located about 20 miles south of Downtown Portland.
Matthew: Thanks for getting up so early to do this interview. I should tell everybody, it's about [7:00] your time. So thank you.
Jonah: Absolutely. Glad to do it.
Matthew: So what is MRX at a high level?
Jonah: So MRX is an OEM that makes super-critical CO2 and ethanol extraction systems, and we bring kinda complete turnkey solutions for our customers all the way through the whole entire extraction process.
Matthew: Okay. And give us a little bit of a sense about your background and journey, and how you got to this point, and why you started MRX?
Jonah: You know, the cannabis and hemp industry is something I've always been incredibly passionate about. You know, they always say, "Do what you love," which I always thought was cliché until I actually got to work in this industry. And, you know, how we actually got started was, you know, we looked...You know, Oregon's always been a leading state, as far as a medical cannabis program, you know, having a strong medical program for over 20 years. And when we saw that Colorado went legal, you know, Oregon had almost passed a couple times going legal, and we knew it'd be a matter of time. And we wanted to get in the industry, but we wanted to get into it in a way we thought would utilize our skill sets. We weren't, you know, master growers like a lot of your listeners are and we didn't have any retail experience, and so our background is very technology. And so we wanted to fit in on the technology side on cannabis, and we saw that there was gonna be the need for standardization and quality control when it came to analytical testing laboratories. And when we looked at the landscape about 4 years, we didn't see a lot of that.
And so we felt like we had the opportunity to kinda set the standard for what an analytical testing laboratory should be with quality controls, transparency, new state-of-the-art equipment, qualified staff with degrees. It was really kind of the Wild West there for a while, with a lot of people just pumping out high-potency numbers and kinda everything getting a pass for pesticides. And then we really wanted to help set the standard, so we opened up...MRX Labs is actually how we started in the industry.
Matthew: Okay. Yeah. It's almost, it can be a huge advantage sometimes to just come in as an outsider because you don't have any concept of the way things should be done. And if you come to the market with skills, you can just start fresh. Whereas people in the industry already can only m