With Federal Legalization Stalled, Cannabis Companies Are Finding A New Green Rush In Europe

Alex Kwon, the cofounder and CEO of California-based vaporizer hardware manufacturer Active, started selling his THC oil vape tech to cannabis companies in the United Kingdom about two years ago.

“We started with putting our toe into the European market, but now we have a swimsuit on and we’re walking in up to our belly,” says the 40-year-old Kwon, who cofounded the company in 2018. “Soon we will be diving in.”

Active, which Forbes estimates to generate more than $100 million in annual revenue, sells vaporizers made for oil to some of the biggest cannabis companies in the U.S., including Trulieve, Green Thumb Industries and Curaleaf. A few years ago, it did not have any business in Europe. Today, more than 5% of the company’s revenue is derived from cannabis companies in the UK, which legalized medical marijuana in 2018, and Germany, which legalized medical use in 2017 and opened a limited recreational market in 2024. Kwon is currently negotiating a deal with an EU brand that would expand Active’s European business even further. “Europe could easily grow to 20% of our sales,” he says.

Active’s expansion outside America is one Kwon is not taking lightly. The EU, where about 25 countries have some form of cannabis legalization or decriminalization, is poised to become a $50 billion (annual sales) market if reform spreads across the entire continent, according to Whitney Economics. And Kwon wants Active to be on the ground floor of this new burgeoning cannabis industry.

“I think Europe is the battleground where cannabis is going to be won—it’s the gateway to the rest of the world,” says Kwon.

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