Hemp, Inc. (OTC: HEMP) recently announced that it built the largest commercial industrial hemp processing facility in North America, and the company that intends to “make America hemp again” is now in full operation at its 70,000 square foot facility in Spring Hope, North Carolina.
In addition, August 17 marked the official launch of Hemp Inc.’s NuAxon Tech CO2 Supercritical Extractor. David Schmitt, COO of Industrial Hemp Manufacturing, LLC, said “Hemp, Inc. is now in position to be a fully integrated high quality [cannabidiol] CBD manufacturer,” in a release.
Opening the facility took over three years, plus millions of dollars spent on purchasing, disassembling, transporting, reassembling, rebuilding, refurbishing, beta testing and debugging.
Putting their new extractor to work is a significant step forward in the company’s ability to clone, grow, cultivate and process high CBD plants, with market prices on their side, Schmitt said.
“It basically all boils down to supply and demand. Today, market prices are somewhere in the ballpark of $20,000 per kilo and we have large amounts growing,” said Schmitt.
Hemp Inc. planted hundreds of acres of industrial hemp and high CBD hemp in North Carolina, Kentucky, Colorado, Nevada, and Oregon. The CBD oil industry is expected to reach 1 billion by 2020.
Bruce Perlowin, CEO of Hemp, Inc. said he intends to create infrastructure for a robust hemp industry by creating a business model of industrial and processing, education, farming, and extraction of CBD oil, so that people can start their own small family hemp farms.
“CBD is the fastest growing sector of the entire medical marijuana and hemp industry,” he said. He said he wants to support anyone who wants a start in the industry on the different technologies available for CO2 extraction, which allows the production of cannabinoid hemp oil.
Perlowin invited President Donald Trump’s task force for Promoting Agriculture and Rural Prosperity in America to see the new hemp facility, saying “President Trump’s Task Force or any member thereof should really visit Hemp, Inc.’s facility in Spring Hope, North Carolina.”
The small family farm, once a staple of the American landscape, is fast disappearing – and Perlowin hopes to change that. He imagines a model family farm is situated on 5 acres and consists of a cloning room, a greenhouse, and 5,000 hemp plants.
“By showing farmers how to grow high CBD hemp plants, operate a greenhouse and turn a barn into a cloning room to earn $500,000 a year, the small family farm can reappear in the American landscape. After all, the original small family farms in America were able to survive economically by growing hemp as their main cash crop and the first five presidents of the United States were all hemp farmers. Our infrastructure is 100 percent aligned with what the President today, is trying to accomplish with this Task Force.”