EXCLUSIVE: What It Takes To Thrive In Cannabis Vape Space - Lessons Learned From Industry Trailblazers

"Cannabis vaping is very different from nicotine vaping; it should be subject to different rules and restrictions." That's according to Steven Przybyia, chief legal officer at Ispire Technology Inc. (NASDAQ:ISPR), who joined three other experts on the stage in Chicago at the Benzinga Cannabis Capital Conference. Yet, Przybyia says applying nicotine industry technologies to cannabis for enhanced safety measures, including age-gating technology, is a viable option.

During the conference panel, moderated by Shauntel Ludwig, CEO of Synergy Innovation, experts provided an overview of trends and innovations in the cannabis vaporization space. Tim Conder, CEO of TILT Holdings Inc. (OTC:TLLTF), Alex Kwon, CEO and founder of ACTIVE, formerly Advanced Vapor Devices and Nicholas Kovacevich, strategic advisor at CCELL also joined the panel titled “Vape Innovation Masterclass: Cost-Effective, Quality Tech for a Global Market.”

Panelists highlighted the importance of consumer focus, investment in research and development (R&D) sector and the integration of safety measures, positioning these elements as foundational for sustainable growth in the industry.

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The Importance Of Consumer Safety

Przybyia shed light on age-gating technology illustrating the growing emphasis on safety within the industry.

He spoke about the development of a Bluetooth-enabled age-gating system that biometrically verifies user age before allowing device activation. Przybyia highlighted the potential of this technology for public health, linking it to regulatory challenges in the nicotine market and demonstrating how similar strategies can be adapted for cannabis.

"This is a technology that we’re using from the nicotine space that we think has a lot of application from a safety, from a public health perspective in the cannabis space," Przybyia said. "If you want to sell lawfully, in the U.S, you need to show that youth access is restricted."

Przybyia also touched on the vaping industry association called VapeSAFER. The initiative focuses on self-regulation and establishing quality standards within the vapor industry to combat low-quality products entering the market and advocate for tailored regulations.

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"We want to promulgate our own standards," he said. "We want to self-police ourselves. We want to actively engage with trade groups, associations Regulators and the FDA."

That said, ACTIVE’s Kwon highlighted the importance of standardized testing and understanding product ingredients to ensure safety and quality. He added that the cannabis vaping industry should not be overshadowed by regulations designed for nicotine products.

"We probably don’t want e-cigarettes, big tobacco blanketing the regulations around cannabis," Kwon said.

The cannabis vapor industry needs to ensure to be "at the seated table when a regulatory change is there because the sensible policy is going to be super important to make sure that there is a constant sustainable future for all the hard work that all the companies..because it’s a massive category that I think it’s just too important of a topic where we just kind of let Others kind of dictate," Kwon said.

Innovation As Competitive Edge

All panelists agreed that continuous innovation is a key to success in the rapidly evolving cannabis industry.

TILT’s Konder said brands must leverage unique product features to attract consumers' interest and loyalty.

"Innovation for us is paramount and it’s become paramount for brands not just over the past several years, but right now today to differentiate in the market," he said. "Innovation is how a brand can stand apart from its competitors on the Shelf and really sort of earn a place in consumer’s hearts."

CCELL’s Kovacevich emphasized CCELL’s commitment to research, adding that it's necessary to invest in R&D substantially to push the boundaries of what's possible in vaporization technology.

He also recalled navigating the vape crisis of 2019, where he faced challenges in an attempt to raise funds due to public health concerns.

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