REPEAT – TAAT® Files Patent Application for Inclusion of
As global demand for TAAT® has grown since its first U.S. launch in December 2020, the company has engineered a variation of its Beyond Tobacco™ base material using reconstituted plant-based materials for international markets around which the current hemp-based formulation cannot be imported. due to its negligible CBD and THC content. To capitalize on this global opportunity, TAAT® has filed an accelerated US patent covering this expanded line of base materials in addition to exclusive integrations with smartphones and wearables to help current smokers transition to TAAT® and observe its benefits through empirical data captured with artificial intelligence (“AI”).
LAS VEGAS and VANCOUVER, British Columbia, May 16, 2022 (GLOBE NEWSWIRE) — TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that it has filed an accelerated patent application in the United States for a Beyond Tobacco™ base material refinement process for TAAT® in which a broader range of reconstituted materials containing zero hemp can be used to produce a nicotine-free and tobacco-free smoking experience substantially resembling that of a traditional tobacco cigarette, with no residual cannabinoids (for example, white mullein, hops, lavender, chamomile, ginseng, sage and peppermint). Although cannabis is currently legal in several global markets, it remains illegal in most others, including the majority of Asian countries.1. As TAAT® strives to capture an even larger market share in the US$812 billion global tobacco industry, the company has recognized the importance of making its nicotine-free and tobacco-free product salable in a more number of countries around the world by developing a Beyond Tobacco™ formulation using hemp-free reconstituted biomass.
Although the Company has had dialogues with tobacco distributors in regions with a high incidence rate of smoking, where TAAT® is expected to enjoy great popularity as a nicotine-free alternative to cigarettes (for exampleAsia-Pacific/APAC, Middle East and North Africa/MENA, Gulf Cooperation Council/GCC Member States), it cannot be sold in several key markets due to the presence of cannabidiol (“CBD”) and negligible tetrahydrocannabinol (“THC”) contained in the current formulation of Beyond Tobacco™. To overcome this hurdle, the Company has experimented with many plant materials other than hemp with which Beyond Tobacco™ base material can be made, and TAAT® has identified specific biomass types that can be routinely obtained on a commercial scale to potential distribution in new global markets. The Company has also identified many benefits specific to these materials, which TAAT® believes could improve the value proposition of its hemp-free formulations.
By offering a version of TAAT® without any CBD or THC content, in addition to the older Beyond Tobacco™ formulation, the Company expects to be able to significantly expand its total addressable market (“TAM”).
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5f4c9f39-1d9a-4f89-b4d7-1510df74ef32
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TAAT® Founder Joe Deighan commented, “While hemp and various cannabinoids are central to TAAT® and Beyond Tobacco™’s vision for the benefits they provide to adult tobacco smokers looking to giving up nicotine, the use of hemp-based materials inherently limits the global markets in which TAAT® can be sold. We are eager to enter regions such as Asia and the Middle East, where there is a clear demand for a nicotine-free and tobacco-free alternative that is better than tobacco cigarettes. However, even in markets where hemp legalization seems imminent at some point in the future, it may take a few years to materialize. Instead of waiting, we’ve spent the past few months developing a formulation of Beyond Tobacco™ using materials other than hemp that still provide a user experience nearly identical to smoking a tobacco cigarette. This may allow us to launch TAAT® virtually anywhere in the world as we continue to pursue market share in the $812 billion global tobacco industry.
On behalf of the Company’s Board of Directors,
TAAT® GLOBAL ALTERNATIVES INC.
Joe Deighan, COO and Director
For more information, please contact:
TAAT® Investor Relations
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About TAAT® Global Alternatives Inc.
The Company has developed TAAT®, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in “Original”, “Smooth” and “Menthol” varieties. The base material of TAAT® is Beyond Tobacco™, a proprietary blend that undergoes a patent-pending refinement technique that causes its scent and taste to resemble tobacco. Under the direction of management with the “Big Tobacco” pedigree, TAAT® was first launched in the United States in the fourth quarter of 2020 as the company seeks to position itself on the 812 billion dollars1 the global tobacco industry.
For more information, please visit http://taatglobal.com.
1 Statista: Consumer Markets – Tobacco Products
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