Hemp, Inc. (HEMP) Highlights Initiative to Legalize Industrial Hemp in North Carolina
Hemp, Inc. this morning reported that the hemp bill that replaced Senate Bill 313 could put the production of industrial hemp another step closer to legalization in North Carolina. The company pointed to a recent article by The News & Observer, “Hemp Farming Gets Support from NC House Panel,” which states that if the bill successfully passes through Congress, an appointed N.C. Industrial Hemp Commission would manage a pilot program.
The article also notes that the appointed commission would provide applications for hemp farming and coordinate research projects with N.C. State and N.C. A&T universities, falling in line with the Farm Bill (2014), which defines industrial hemp as distinct and authorizes universities or state agriculture departments to conduct research and pilot programs.
If passed through both the House and Senate, North Carolina’s hemp bill will also allow for hemp farming in the state. Representative Jeff Collins, sponsor of the legislation, believes North Carolina is the ideal location for hemp cultivation as it is home to one of five decorticators in the world.
“The Spring Hope facility will give North Carolina farmers a leg up in this industry,” Collins is quoted as saying in The News & Observer.
In light of this news, Hemp, Inc. appears to be well-positioned to take advantage of any opportunities stemming from the pending legislation. The company also issued an update on the status of its multipurpose industrial hemp processing plant in Spring Hope, North Carolina, which is now 80% complete. Among other updates, the company said the processing plant is being prepped for maximum operational efficiency and, in addition to three visits from a German engineer, an electrical contractor is on site assembling the electrical wiring. To-date, 50% of the wiring has already been laid in the cable trays.
While Hemp, Inc. executives expect the plant to be fully operational before the end of the fourth quarter of 2015, the company warns that unexpected delays could occur – though potential delays don’t dampen the company’s optimism over the potential of the entire project.
“Our hemp processing plant is the first and only commercial factory to be built in the United States in almost a century. We have been meticulously building the infrastructure to be able to vertically integrate growing, decortication, and milling and this is no small feat. We aim to spark a new clean green American Agricultural and Industrial Hemp Revolution for the American farmers and hemp product manufacturers. The infrastructure, now being put in place, will also have an astounding effect on the economy, all due to the revival of industrial hemp,” Bruce Perlowin, CEO of Hemp, Inc. stated in the news release.
According to the company, the fact that hemp is not yet legal in North Carolina played no role in setting up shop in North Carolina. Executives say the company will process kenaf as soon as the decortication machinery is operational.
“We expect it to produce millions of dollars in revenue a year just from processing kenaf, which is legal and also very lucrative,” said Perlowin.
For more information, visit www.hempinc.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
Hemp, Inc. this morning reported that the hemp bill that replaced Senate Bill 313 could put the production of industrial hemp another step closer to legalization in North Carolina. The company pointed to a recent article by The News & Observer, “Hemp Farming Gets Support from NC House Panel,” which states that if the bill successfully passes through Congress, an appointed N.C. Industrial Hemp Commission would manage a pilot program.
The article also notes that the appointed commission would provide applications for hemp farming and coordinate research projects with N.C. State and N.C. A&T universities, falling in line with the Farm Bill (2014), which defines industrial hemp as distinct and authorizes universities or state agriculture departments to conduct research and pilot programs.
If passed through both the House and Senate, North Carolina’s hemp bill will also allow for hemp farming in the state. Representative Jeff Collins, sponsor of the legislation, believes North Carolina is the ideal location for hemp cultivation as it is home to one of five decorticators in the world.
“The Spring Hope facility will give North Carolina farmers a leg up in this industry,” Collins is quoted as saying in The News & Observer.
In light of this news, Hemp, Inc. appears to be well-positioned to take advantage of any opportunities stemming from the pending legislation. The company also issued an update on the status of its multipurpose industrial hemp processing plant in Spring Hope, North Carolina, which is now 80% complete. Among other updates, the company said the processing plant is being prepped for maximum operational efficiency and, in addition to three visits from a German engineer, an electrical contractor is on site assembling the electrical wiring. To-date, 50% of the wiring has already been laid in the cable trays.
While Hemp, Inc. executives expect the plant to be fully operational before the end of the fourth quarter of 2015, the company warns that unexpected delays could occur – though potential delays don’t dampen the company’s optimism over the potential of the entire project.
“Our hemp processing plant is the first and only commercial factory to be built in the United States in almost a century. We have been meticulously building the infrastructure to be able to vertically integrate growing, decortication, and milling and this is no small feat. We aim to spark a new clean green American Agricultural and Industrial Hemp Revolution for the American farmers and hemp product manufacturers. The infrastructure, now being put in place, will also have an astounding effect on the economy, all due to the revival of industrial hemp,” Bruce Perlowin, CEO of Hemp, Inc. stated in the news release.
According to the company, the fact that hemp is not yet legal in North Carolina played no role in setting up shop in North Carolina. Executives say the company will process kenaf as soon as the decortication machinery is operational.
“We expect it to produce millions of dollars in revenue a year just from processing kenaf, which is legal and also very lucrative,” said Perlowin.
For more information, visit www.hempinc.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
