Hemp, Inc. Enters Exclusive Distribution Contract
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Posted On: 07/25/2018 1:02:54 PM
Hemp, Inc. Enters Exclusive Distribution Contract Agreement
SPRING HOPE, NC, July 24, 2018 (GLOBE NEWSWIRE) -- Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, announced today that Hemp, Inc.’s wholly owned subsidiary Industrial Hemp Manufacturing, LLC(IHM) has entered into an exclusive distribution agreement with Quadco, LLC for IHM’s proprietary natural products for the oil and gas well drilling industries in the state of Alaska.
In Alaska, the oil industry accounts for about one-half of the overall economy when the spending of state revenues from oil production is considered, according to the UAA Institute of Social and Economic Research. With full service districts in both Anchorage and Prudhoe Bay, Quadco is well equipped to provide a multitude of drilling, completion and intervention products and services to all of the onshore and offshore fields in Alaska.
Per the agreement, Quadco will distribute IHM’s DrillWall™, a Loss Circulation Material (LCM), which they now have in inventory. LCM is a term for substances added to drilling fluids when drilling fluids are being lost to the formations downhole. DrillWall™ is non-toxic and biodegradable, and is a mixture of micronized organic cellulose fibers that has been field proven for all types of drilling fluid formulas including water-based fluids (WBM), oil-based fluids (OBM), synthetic based fluids (SBM) and constant rheology fluids (CR-SBM). It has been used in all types of high loss geology formations including sand, fractured shale, pre-salt, pea gravel and other highly porous formations. It can be mixed through the mud hopper or directly into the mud tank at the agitation point.
“We are proud to distribute our DrillWall™ product exclusively through Quadco in Alaska,” said David Schmitt, COO of Hemp, Inc.’s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC. “Quadco has an impeccable reputation as the leading distributor of products for the oil and gas industries. We look forward to working with them to provide an environmentally-friendly solution for seepage and loss circulation control in Alaska.”
Hemp, Inc. announced earlier this year that it had completed its first purchase orders for DrillWall™, Spill-Be-Gone™, and other products. Hemp, Inc.’s facility in Spring Hope, North Carolina has been operational for a solid year and the sales cycle has been gaining momentum, according to Perlowin. Any drilling company wishing to purchase DrillWall™ in the state of Alaska can contact Quadco at 907-563-8999.
“We are excited to welcome IHM’s DrillWall™ product line to our downhole division. This innovative LCM material is an excellent addition to our market-leading solids control equipment,” said a Quadco representative. “Quadco looks forward to introducing DrillWall™ to the Alaskan market to prove this environmentally-friendly product’s loss circulation performance.”
With our industrial sales from our plant in Spring Hope, NC in full swing, Hemp, Inc. is now expanding the plant’s capacity to keep up with sales. “We are now focusing on the CBD Oil and Farming divisions. In these divisions, there are a myriad of opportunities and even more so for us than in our industrial plant division which we’ve been operating for a solid year and that’s no small feat. One hemp processing plant, that comes to mind, could not move forward after breaking ground, so for us to be operating for a solid year is quite impressive,” says Perlowin.
In west Kentucky’s Carlisle County, a hemp processing plant that broke ground in March announced last week that it could not move forward due to lack of funding to build their hemp processing plant. Hemp, Inc., however, has built the largest facility in the western hemisphere and has been successfully operating it for a year so far. Building and operating a facility of this magnitude is a huge undertaking and Hemp, Inc. has done it successfully.
Read Full Press Release...
SPRING HOPE, NC, July 24, 2018 (GLOBE NEWSWIRE) -- Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, announced today that Hemp, Inc.’s wholly owned subsidiary Industrial Hemp Manufacturing, LLC(IHM) has entered into an exclusive distribution agreement with Quadco, LLC for IHM’s proprietary natural products for the oil and gas well drilling industries in the state of Alaska.
In Alaska, the oil industry accounts for about one-half of the overall economy when the spending of state revenues from oil production is considered, according to the UAA Institute of Social and Economic Research. With full service districts in both Anchorage and Prudhoe Bay, Quadco is well equipped to provide a multitude of drilling, completion and intervention products and services to all of the onshore and offshore fields in Alaska.
Per the agreement, Quadco will distribute IHM’s DrillWall™, a Loss Circulation Material (LCM), which they now have in inventory. LCM is a term for substances added to drilling fluids when drilling fluids are being lost to the formations downhole. DrillWall™ is non-toxic and biodegradable, and is a mixture of micronized organic cellulose fibers that has been field proven for all types of drilling fluid formulas including water-based fluids (WBM), oil-based fluids (OBM), synthetic based fluids (SBM) and constant rheology fluids (CR-SBM). It has been used in all types of high loss geology formations including sand, fractured shale, pre-salt, pea gravel and other highly porous formations. It can be mixed through the mud hopper or directly into the mud tank at the agitation point.
“We are proud to distribute our DrillWall™ product exclusively through Quadco in Alaska,” said David Schmitt, COO of Hemp, Inc.’s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC. “Quadco has an impeccable reputation as the leading distributor of products for the oil and gas industries. We look forward to working with them to provide an environmentally-friendly solution for seepage and loss circulation control in Alaska.”
Hemp, Inc. announced earlier this year that it had completed its first purchase orders for DrillWall™, Spill-Be-Gone™, and other products. Hemp, Inc.’s facility in Spring Hope, North Carolina has been operational for a solid year and the sales cycle has been gaining momentum, according to Perlowin. Any drilling company wishing to purchase DrillWall™ in the state of Alaska can contact Quadco at 907-563-8999.
“We are excited to welcome IHM’s DrillWall™ product line to our downhole division. This innovative LCM material is an excellent addition to our market-leading solids control equipment,” said a Quadco representative. “Quadco looks forward to introducing DrillWall™ to the Alaskan market to prove this environmentally-friendly product’s loss circulation performance.”
With our industrial sales from our plant in Spring Hope, NC in full swing, Hemp, Inc. is now expanding the plant’s capacity to keep up with sales. “We are now focusing on the CBD Oil and Farming divisions. In these divisions, there are a myriad of opportunities and even more so for us than in our industrial plant division which we’ve been operating for a solid year and that’s no small feat. One hemp processing plant, that comes to mind, could not move forward after breaking ground, so for us to be operating for a solid year is quite impressive,” says Perlowin.
In west Kentucky’s Carlisle County, a hemp processing plant that broke ground in March announced last week that it could not move forward due to lack of funding to build their hemp processing plant. Hemp, Inc., however, has built the largest facility in the western hemisphere and has been successfully operating it for a year so far. Building and operating a facility of this magnitude is a huge undertaking and Hemp, Inc. has done it successfully.
Read Full Press Release...
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