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Greentank

Cannabis vaporization hardware design and manufacturing.

Overview

Greentank designs and manufactures vaporization hardware for the cannabis industry, including disposable pens, cartridges, pods, and recyclable vapes. Its products are customized to handle different cannabis oil viscosities and are sold to brands across North America, with OEM and ODM services for client-specific design needs. The hardware heats cannabis oil to vaporize it safely and efficiently, leveraging Quantum Vape technology and strict safety standards. Greentank has launched 500+ vape brands and earned industry awards, aiming to help brands bring reliable, well-designed hardware to market.

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About Greentank

Simplify's Rating
Why Greentank is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

HardwareIndustrial & ManufacturingDesignConsumer Goods

Company Size

51-200

Company Stage

Late Stage VC

Total Funding

$50.3M

Headquarters

Toronto, Canada

Founded

2015

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Simplify's take

What believers are saying

  • September 21, 2026 InterTabac awards boosted Nura Zero and Quantum Chip credibility.
  • Greentank’s July 2026 $20 million AIR capital funds manufacturing scale and R&D expansion.
  • February 2026 GT Palm Pro, GT Fuse, and GT A20 MAX widen brand upgrade paths.

What critics are saying

  • AIR’s warrant can raise its stake 20% by July 2028, diluting founders.
  • Regulatory tightening in California and New York raises compliance costs and shelf access.
  • Greentank’s hardware depends on a narrow, capital-intensive category vulnerable to commoditization by 2027.

What makes Greentank unique

  • Quantum Chip technology separates Greentank from ceramic-and-coil cartridge rivals.
  • July 31, 2026 AIR deal validates Greentank at a $170 million valuation.
  • Toronto-Shenzhen owned manufacturing and patents since 2014 support custom OEM and ODM programs.

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Funding

Total Funding

$50.3M

Meets

Industry Average

Funded Over

5 Rounds

Late VC funding comparison data is currently unavailable. We're working to provide this information soon!
Late VC Funding Comparison Coming Soon

Benefits

  • Health Insurance
  • Dental Insurance
  • Company Equity

Growth & Insights and Company News

6 month growth

0%

1 year growth

0%

2 year growth

-2%
GlobeNewswire
Oct 5th, 2026
InterTabac World Alternative Awards names AIR's Crown Switch(TM) 2026 Best Vape Device of the Year.

InterTabac World Alternative Awards names AIR's Crown Switch(TM) 2026 Best Vape Device of the Year. October 05, 2026 08:16 ET | Source: AIR Global DUBAI, United Arab Emirates, Oct. 05, 2026 (GLOBE NEWSWIRE) - AIR Global PLC ("AIR" or the "Company") (NASDAQ: AIIR), a global leader in advanced flavored inhalation technologies and pioneer of next-generation nicotine delivery systems, today announced that Crown Switch(TM), developed in partnership with Greentank Innovations Corp. ("Greentank"), a global leader of advanced vaporization hardware and technology, has been named Best Vape Device of the Year at the InterTabac World Alternative Awards. Crown Switch(TM), AIR's first rechargeable pod vape system, debuted in Germany last year, and AIR plans to bring the product to market in the United States in the future. AIR's Crown Switch(TM) is powered by Greentank's Quantum Chip(TM) atomization technology. The awards recognize alternative nicotine products and innovations in categories ranging from vape devices and e-liquids to modern nicotine pouches and reduced-risk concepts and innovations. Winners are chosen via a combination of public online voting and expert jury evaluations. "We're thrilled to receive this exceptional honor, with Crown Switch(TM) named best vape device of the year," said Stuart Brazier, CEO of AIR. "It reflects the meaningful progress we've made in developing cleaner inhalation platforms and validates what AIR and Greentank have built together. Greentank's award-winning Quantum Chip technology is the cornerstone of that differentiation, and the reason Crown Switch(TM) earned this recognition as the best. We look forward to bringing this product to more markets in the coming months." Crown Switch(TM) uses disposable pods and contains zero ceramics or heavy metals in the vaporizer core unlike traditional coil and wick vapes. Greentank's Quantum Chip(TM) was also recognized as Best Reduced Risk Concept / Innovation of the Year. "Our partnership with AIR has allowed Crown Switch(TM)'s innovative product to reach consumers at scale, and we look forward to continued growth for both companies," said Corey Koffler, CEO and Co-Founder of Greentank. "Quantum Chip is engineered to advance reduced-risk solutions without compromising the user experience. This award-winning innovation, combined with AIR's flavor expertise and science-backed products, and Crown Switch(TM) being named best vape device, are testaments to AIR's strong R&D and category leadership." In July 2026, AIR announced a USD $20 million strategic equity investment in Greentank, deepening a partnership the two companies formed in 2023. Additionally, the award recognition follows the release of a pilot study conducted by McKinney Specialty Labs, LLC, an independent, specialty analytical laboratory, that evaluated aerosol emissions from Crown Switch(TM) and compared its results against published data from a scientific study by Smith and colleagues on harmful and potentially harmful constituents (HPHCs) in FDA-authorized e-cigarette products. The results showed Crown Switch(TM) pods produced aerosols with carbon monoxide below detection limits, approximately 94% less formaldehyde and 97% less nickel metal than other leading, comparable e-cigarette products in the Smith study. About AIR Founded in 1999 and headquartered in Dubai, AIR is a global consumer brands and innovation company with a presence in more than 90 markets worldwide. Its portfolio reaches millions of adult consumers across social inhalation and modern nicotine categories through brands including Al Fakher (flavored shisha molasses), Crown Switch(TM)(rechargeable pod vape system) and Crown Gems(TM) nicotine pouches. AIR's strategy combines category-leading brands, scientific research, and in-house innovation capabilities. Strategic investments such as Greentank and royalty-generating intellectual property partnerships such as Crown Bar enhance its participation in fast-growing nicotine and inhalation categories. The Company develops next-generation technologies and products, including OOKA. By connecting brands, technology, science, and commercial partnerships, AIR is building a differentiated platform positioned to shape the future of adult consumer experiences. About Greentank Technologies Greentank is a cutting-edge technology company pioneering atomization and advanced material science across multiple industries. At the forefront of innovation, Greentank's Quantum Chip(TM) technology is engineered to deliver a superior user experience while advancing reduced-risk solutions in the inhalable industry. This groundbreaking heating technology generates optimal particle size distribution and aerosol mass, ensuring exceptional taste and consistency over an extended lifespan. Supported by a robust patent portfolio dating back to 2014, Greentank continues to invest heavily in its fully owned and operated, semi-automated chip manufacturing and R&D facility, driving the future of vaporization products and technology. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other U.S. federal securities laws. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "contemplate," "estimate," "expect," "intend," "may," "plan," "predict," "potential," "seek," "should," "target," "will," or, in each case, their negative or other variations or comparable terminology. Such forward-looking statements are based on available current market material and management's expectations, beliefs and forecasts concerning future events impacting the Company. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including, among others: the Company's ability to realize the anticipated benefits of the Greentank investment and partnership; the potential exercise of warrants to increase ownership in Greentank; the Company's U.S. market expansion strategy; the timing and outcome of regulatory submissions, including PMTA applications to the FDA; regulatory changes and enforcement trends in the tobacco and nicotine industries; the Company's ability to execute its product development and commercialization strategy; the results of scientific studies and their acceptance by regulatory authorities; the preliminary nature of the McKinney pilot study data, which is subject to further testing and verification and may change materially as additional data becomes available; the Company's ability to successfully launch Crown Switch(TM) in the United States and additional markets and to achieve consumer acceptance of Crown Switch(TM); the Company's and Greentank's ability to achieve continued growth and the expected benefits of their strategic partnership; supply chain constraints and costs; changes in consumer preferences; competition in the hookah, vaping and nicotine product markets; macroeconomic, geopolitical, and industry conditions; tax, legal, and accounting developments; and other risks described in the Company's filings with the SEC, including the Company's Registration Statement on Form F-1 filed with the SEC on August 28, 2026 and subsequent furnished or filed reports. Nothing in this press release should be regarded as a representation by the Company that the forward-looking statements will be achieved. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. No Offer or Solicitation This press release is for informational purposes only and does not constitute (and shall not be construed as) an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. AIR Investor Relations: Gaurav Jain: [email protected]; +971-56-439-4296 Anuja Shendye: [email protected]; +971-58-907-8782 [email protected] AIR Media Relations: ICR for AIR For more information, email inquiries to [email protected]

Greentank
Sep 21st, 2026
Greentank takes home two major awards at InterTabac 2026.

Greentank takes home two major awards at InterTabac 2026. Posted by Derek Champoux 1 week ago / September 21, 2026 Nura Zero and Quantum Chip(TM) recognized at the InterTabac World Alternative Awards, marking a major milestone in Greentank's mission to advance the future of vaporization. Greentank is proud to announce that two of its groundbreaking innovations have been recognized at the 2026 InterTabac World Alternative Awards in Dortmund, Germany, earning top honours in two major categories: Best Vape Device of the Year Crown Switch (Nura Zero). Best Reduced Risk Concept / Innovation of the Year Quantum Chip(TM). For Greentank, these awards represent much more than industry recognition. They mark an important milestone in a journey that has taken years of research, engineering, testing, iteration and collaboration to bring an entirely new approach to vaporization from the laboratory to the global market. And in many ways, Greentank Technologies believe the journey is just beginning. Years in the making. Quantum Chip(TM) was born from a simple but ambitious question: Can Greentank Technologies fundamentally rethink the way vapor is created? For years, conventional vaporization technology has largely relied on variations of the same basic heating architecture. Greentank saw an opportunity to approach the challenge differently. Rather than simply making incremental improvements to existing technology, its R&D and engineering teams set out to rethink the heating system itself. The result was Quantum Chip(TM), a precision-engineered atomization platform designed to deliver greater control over how liquid is transported, heated and converted into aerosol. Getting there was anything but simple. Years of development went into understanding the complex relationship between heating technology, airflow, liquid delivery, aerosol formation, materials and device architecture. Countless prototypes were engineered, tested, analyzed and refined as its teams worked to transform a promising concept into technology capable of performing reliably at commercial scale. That process ultimately resulted in a new atomization architecture built around thousands of precision-engineered microchannels, designed to rapidly transport and aerosolize liquid without relying on a conventional porous ceramic heating structure. But developing groundbreaking technology is only part of the challenge. The real test is bringing it to market. From breakthrough technology to a complete product. Nura Zero represents the next step in that evolution. Commercialized in partnership with AIR as Crown Switch, the platform combines Greentank's advanced device engineering with Quantum Chip(TM) atomization technology to create a complete consumer-ready vapor system. The objective was not simply to build a new device around a new heating element. Every part of the platform had to work together. Airflow. Power delivery. Pod architecture. Liquid management. Materials. Industrial design. Manufacturing. Reliability. User experience. Each element was engineered and refined to help unlock the potential of the technology at its core. The result is a vapor platform designed around consistency, performance and an elevated experience from beginning to end. Winning Best Vape Device of the Year for Nura Zero represents an important validation of that complete-system approach. Winning Best Reduced Risk Concept / Innovation of the Year for Quantum Chip(TM) at the same event makes the moment even more meaningful. Together, the two awards recognize both sides of the equation: the foundational atomization technology and the finished product built around it. Innovation with a bigger purpose. The InterTabac recognition also speaks to a much larger opportunity. The future of vaporization cannot be defined by performance alone. As the global nicotine industry continues to evolve, the expectations placed on next-generation products are becoming increasingly sophisticated. Product experience matters, but so do aerosol science, material selection, consistency, manufacturing quality and the continued pursuit of reduced-risk alternatives to combustible products. That is where Greentank Technologies believe advanced engineering can make a meaningful difference. Quantum Chip(TM) was developed to give Greentank greater control over one of the most important parts of any vapor product: the moment liquid becomes aerosol. By continuing to advance the science and engineering behind that process, Greentank Technologies believe there is an opportunity to create products that not only perform better, but help move the entire category forward. The recognition of Quantum Chip(TM) as Best Reduced Risk Concept / Innovation of the Year reinforces the importance of continuing that work. Built by an incredible team. Awards may be collected on a stage, but they are earned long before anyone steps onto it. These two awards belong to the people who spent years bringing these technologies to life. They belong to its scientists and engineers who challenged assumptions and solved problems that did not always have obvious answers. They belong to its product development and manufacturing teams who transformed prototypes into scalable commercial products. They belong to its quality, regulatory and operations teams who helped turn innovation into something that could perform consistently in the real world. And they belong to the partners and customers who shared its belief that vaporization technology could be pushed further. Building something genuinely new requires patience, persistence and a willingness to keep improving even when the easier path is available. Greentank Technologies could not be prouder of the team that made this possible. The next chapter of vaporization. But it is not the finish line. For Greentank, it is further motivation to continue investing in the science, engineering and manufacturing capabilities required to advance vaporization technology. Quantum Chip(TM) has already undergone years of development and continued iteration. Nura Zero demonstrates what becomes possible when that technology is integrated into a complete next-generation platform. Now its focus turns to what comes next. New generations. New form factors. New applications. Continued research into aerosol performance and reduced-risk innovation. And new opportunities to work with global partners that share its vision for where the category can go. The industry is changing quickly, and the technologies that define its future are being built today. Greentank Technologies is incredibly proud to see Nura Zero and Quantum Chip(TM) recognized on one of the industry's biggest international stages. More importantly, Greentank Technologies is proud of what these awards represent: Years of hard work. A relentless commitment to innovation. And another major step toward the future of vaporization. The future is being built now. And Greentank is just getting started. Filed Under: News Greentank Secures USD $20 Million Strategic Investment from AIR Global PLC to Accelerate R&D Capabilities and Manufacturing Footprint Join its awesome community. Keep up to date on all Greentank Technology news and promotions Interested in its products? Contact Greentank Technologies to find out how you can carry the most reliable vape hardware solutions on the market. General Requests

Beard Bros Pharms
Aug 16th, 2026
Greentank co-founders discuss innovation and growth in cannabis hardware industry.

Greentank co-founders discuss innovation and growth in cannabis hardware industry. Key takeaways. * Greentank, co-founded by Corey and Dustin Koffler in 2016, focuses on innovative vaping technology for cannabis and nicotine products. * The company has developed proprietary quantum chip technology to enhance safety and flavor in vaping while reducing harmful emissions. * Greentank raised over $70 million through strategic funding to emphasize R&D and technology differentiation for growth. * Building strong relationships has been key for Greentank in navigating industry challenges, including regulatory scrutiny. * The founders encourage perseverance, relationship-building, and continuous innovation for aspiring entrepreneurs. In an in-depth interview on the Beard Bros Media Network, Corey and Dustin Koffler, co-founders of Greentank, shared their journey from humble beginnings in Toronto to becoming leaders in cannabis hardware technology. Their story highlights innovation, strategic investment, and the importance of perseverance in a rapidly evolving industry. Founded in 2016, Greentank has established itself as a pioneering company focused on developing safer, higher-quality heating technology for vaping cannabis, nicotine, and wellness products. With a team of approximately 130 employees across Toronto, Shenzhen, and the UK, the company has expanded its reach into North American and European markets. From Toronto roots to global innovation. Growing up together in Toronto, the brothers' collaboration was rooted in a shared passion for improving the vaping experience. Dustin's early work involved selling non-nicotine e-cigarettes, which laid the groundwork for their eventual focus on hardware. Dustin recounted a pivotal moment at a wedding in Aspen, Colorado, where he observed the vaping habits of attendees - predominantly baby boomers - using early-generation devices that failed to deliver a satisfying experience. This moment sparked the idea that existing technology could be improved. "I realized that the technology being used was nascent and that I could make it better," Dustin explained. "That epiphany led us to develop hardware specifically designed for cannabis oils, offering a cleaner, safer, and better-tasting experience." Innovating with Technology Greentank's technological advancements include the development of their proprietary quantum chip technology - an innovation that enhances safety and flavor while reducing harmful emissions. Their focus on safety and quality has attracted numerous industry partners, regulators, and investors. "Safety is our top priority," said Corey. "We use biocompatible materials and microfluidics to vaporize oils more efficiently and safely. Our technology produces a cleaner aerosol with fewer harmful byproducts - 99% cleaner than many approved market products." Strategic growth and investment. The company's growth has been fueled by strategic funding rounds, raising over $70 million to date. Early investments focused on R&D, with subsequent rounds emphasizing technological differentiation and vertical expansion. Green Tank's ability to secure funding from a selective group of investors - ranging from manufacturing experts to cannabis and nicotine industry leaders - has enabled continuous innovation. "Having a clear plan on how to use funds was crucial," said Dustin. "We invested heavily in R&D and manufacturing, especially in our proprietary chip technology, which is manufactured entirely in-house in Shenzhen." Navigating industry challenges. Throughout the interview, the brothers emphasized the importance of building strong relationships - both within their team and with partners. Their close-knit dynamic, built on mutual trust and complementary skills, has been critical to navigating industry challenges, including regulatory scrutiny and market volatility. "Our culture of perseverance and treating people well has been key," Corey remarked. "Starting a business is a roller coaster, but staying committed and focused on your vision makes all the difference." Looking ahead. Greentank continues to push the boundaries of vaping technology, with ongoing projects to further refine heat control and aerosolization. Dustin shared excitement about their next-generation products, which promise even greater safety and performance. "Our goal is to revolutionize how people consume oils," he said. "We're already working on innovations that will take our technology even further." Final thoughts. The Koffler brothers' journey underscores the importance of innovation, strategic planning, and resilience in building a successful industry-leading company. Their advice to aspiring entrepreneurs: pursue your passions with perseverance, build strong relationships, and never stop innovating.

M+M Magazine
Jul 31st, 2026
Greentank secures USD $20 million strategic investment.

Greentank secures USD $20 million strategic investment. July 31, 2026 TORONTO - Greentank Innovations Corp., a global pioneer in advanced vaporization hardware and material science, closed a USD$20 million strategic equity investment from AIR Global PLC (AIR). Founded in 1999 and headquartered in Dubai, AIR is a global consumer brands and innovation company with a presence in more than 90 markets worldwide. The investment, made at a pre-money valuation of approximately USD$170 million, expands upon the strategic partnership established between Greentank and AIR in 2023. As part of the agreement, AIR secures a warrant with the option to increase its equity stake by up to 20% over the next 24 months at a valuation of USD$250 million. The transaction includes enhanced commercial terms, long-term supply commitments, access to next-generation technologies, and board representation. The capital will directly accelerate Greentank's growth trajectory, enabling the company to scale its fully owned and operated, semi-automated chip manufacturing facilities, advance its deep-tech research-and-development pipeline, and expand the global deployment of its proprietary Quantum Chip(TM) atomization platform. Pioneering the next generation of inhalation science. Greentank's flagship Quantum Chip(TM) platform represents a shift away from legacy ceramic and wire-coil heating technologies. Engineered at a molecular level, the chip technology delivers precise thermal regulation, optimized aerosol mass, and taste consistency across a variety of liquid formulations. The strategic investment coincides with preliminary scientific validation of Greentank's technology. In an independent pilot study conducted by McKinney Specialty Labs LLC, aerosol generated by AIR's Crown Switch(TM) vape, a device powered by Greentank's Quantum Chip(TM) platform, demonstrated significantly reduced levels of harmful and potentially harmful constituents (HPHCs) compared to published data on FDA-authorized vape devices and traditional combustible cigarettes. Key study highlights for Crown Switch aerosol included: * Carbon monoxide: Below detection limits across all tested formulations and power settings. * Heavy metals and volatiles: Arsenic, cadmium, chromium, lead, nickel, benzene, and 1,3-butadiene were predominantly non-detectable or below limits of quantification. * HPHC reductions: Significantly reduced levels of carbonyls (including acetaldehyde and formaldehyde) compared to FDA-authorized benchmark vaping devices. "This capital injection and expanded strategic partnership with AIR validate both the commercial viability and scientific foundation of our Quantum Chip(TM) platform," said Greentank co-founder and Chief Executive Officer Corey Koffler. "When we developed our microchip heating technology, our goal was to redefine what's possible in vaporization, delivering unprecedented aerosol consistency and performance while driving reduced-risk innovations across global markets. This funding enables us to rapidly scale our semi-automated manufacturing, broaden our patent portfolio, and solidify Greentank's position as the hardware engine powering the future of the inhalation industry." Fueling infrastructure, R&D, and global commercial scale. With a robust patent portfolio dating back to 2014, Greentank has built a significant presence across legal cannabis, nicotine, and wellness vaporization hardware categories. The funding will focus on three core strategic pillars: * Manufacturing automation and scale: Expanding capacity at Greentank's specialized chip manufacturing facility to meet growing volume demands from tier-one global brands. * Material science and intellectual property acceleration: Advancing proprietary microchip heating designs, micro-fluidic controls, and next-generation substrate formulations. * Global market footprint: Strengthening supply agreements and commercialization pathways across North America, Europe, and emerging global markets.

Tobacco Reporter
Jul 29th, 2026
Pilot Study Promising as AIR Invests $20M in Greentank - Tobacco Reporter

AIR said the findings will be presented at the 2026 Tobacco Science Research Conference and will form part of its PMTA submission.

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