LAS VEGAS, NV--(Marketwired - Jul 27, 2016) - Hemp, Inc. (OTC PINK: HEMP) executives see more lucrative business opportunities as another state joins the 29 states that have already legalized industrial hemp. Pennsylvania Governor, Tom Wolf, signed into law a bill that would let the Pennsylvania Agriculture Department and institutions of higher education grow hemp for research purposes, directly or through approved contractors. According to the bill's sponsor, Rep. Russ Diamond, large scale production could occur under the law's research provisions. With the country's largest industrial hemp processing facility and milling operation underway, Hemp, Inc. (OTC PINK: HEMP) is strategically positioned as the leader in re-emerging industrial hemp industry to process industrial hemp and manufacture products made from hemp.
Hemp, Inc.'s (OTC PINK: HEMP) wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM), is in the final stages of completion. "Industrial hemp is reclaiming its rightful place in America as demand for this environmentally friendly natural fiber continues to increase due to the economic benefits. Pennsylvania, in particular, has a rich history of hemp farming dating back to the mid-1700s. One of its counties was even dubbed 'Hempfield.' Now, more and more states are realizing the importance of hemp and its tie to our American culture," said David Schmitt, COO of IHM.
Hemp is one of the world's most durable fibers for textiles and can also be used to manufacture biodegradable plastics, building materials, food, paper, environmental and energy products. "You typically see a lot of companies overseas opting for hemp and hemp-based materials and more farmers cultivating the plant in between growing seasons as a cover crop to keep valuable nutrients in the soil. This continues to prove the hemp revolution is not only unstoppable but relentless. Hemp, Inc. has its commercial decortication facility in place to soon fill the increased demand for processing the fiber and will also be able to deploy portable decorticators to more and more farmers as they begin to grow hemp," says Bruce Perlowin, CEO of Hemp, Inc. (OTC PINK: HEMP).
So far, David Schmitt, COO of Hemp, Inc.'s Industrial Hemp Manufacturing, LLC, updated shareholders that the milling machinery is in its permanent location so that it can be secured into place. He also had meetings last week with the air handler manufacturer to ascertain when they can expect the machinery on-site. "Once the air handler and dust collector are on-site, we're looking to hire specialized contractors to assist with securing all of the equipment in place, which should save us over 3 to 4 weeks in time. While I can't say the exact date of when the air handler and dust collector will be onsite, once it is here, my best guestimate would be 3 weeks for us to have both mills operational," said Schmitt, previously.
Once the milling machinery is operational, Hemp, Inc. will be able to produce their Lost Circulation Materials (LCMs) and other oil absorbent products while the decortication machinery continues to be built. "Our 70,000 square foot commercial industrial hemp processing facility and milling operation, on 9 acres makes Hemp, Inc. the largest industrial hemp processor and manufacturer in America and with the addition of our milling facility to produce other hemp-based products, we have strategically expanded our worldwide industrial base," said Bruce Perlowin, CEO of Hemp, Inc. (OTC PINK: HEMP).
Shareholders can expect lucrative business opportunities for Hemp, Inc. in the Spring of 2017 because the company is looking to possibly grow and harvest a very large hemp crop on up to 50,000 acres which can all be processed at Hemp, Inc.'s industrial hemp processing facility.
Perlowin is also incorporating hemp growing, CBD-producing "communities" or "villages." In addition to his 2,000 acres in Arizona, where he's building veteran villages on 500 of those acres, he recently visited upstate New York to talk with potential farmers about growing hemp. Now that Pennsylvania is legal, Perlowin will be there as well to look for 500-acre parcels. "These Kins Communities will consist of hemp grown on 400 acres consisting of 160 lots of 2 1/2 acre Kins Domains (eco-villages) each growing 1 acre of hemp as well as having organic gardens, natural beehives, a pond, a living fence and other elements that consist of a Kins Domain. Additionally, two separate 50-acre parcels of hemp will be grown on these Veteran village Kins Communities with a planned on-site 100,000 square foot hemp CBD processing plant."
Perlowin continued, "We have already started building the first one of these 500-acre hemp-growing, CBD-producing, Veteran-Village, Kins Communities north of Kingman, Arizona, on a 500-acre parcel. Not only will this model produce very lucrative revenue for Hemp, Inc. and its shareholders, it will also go a long way in solving the numerous veteran problems we have in America. We've already identified, at least, twenty-five 500-acre parcels that fit our criteria to enable us to subdivide them into 2 1/2-acre Kins Domains." The infrastructure for the hemp growing, CBD-producing, Veteran-Village Kins Community takes time to build, which is why Perlowin starts building before hemp becomes legal in certain states. Perlowin has also allocated space for CBD extraction at the company's decortication facility in Spring Hope, North Carolina to do beta testing. Since CBD extraction technology is constantly changing and being improved, Perlowin says they will probably contract with a few companies for their extraction technology.
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ABOUT INDUSTRIAL HEMP
Hemp is a durable natural fiber that is grown as a renewable source for raw materials that can be incorporated into thousands of products. It's one of the oldest domesticated crops known to man. Hemp is used as a nutritional food product for humans and pets, building materials, paper, textiles, cordage, organic body care and other nutraceuticals, just to name a few. It has thousands of other known uses. A hemp crop requires half the water alfalfa uses and can be grown without the heavy use of pesticides. Farmers worldwide grow hemp commercially for fiber, seed, and oil for use in a variety of industrial and consumer products. The United States is the only developed nation that fails to cultivate industrial hemp as an economic crop on a large scale, according to the Congressional Resource Service. However, with rapidly changing laws and more states gravitating towards industrial hemp and passing an industrial hemp bill, that could change. Currently, the majority of hemp sold in the United States is imported from China and Canada, the world's largest exporters of the industrial hemp crop.
HEMP, INC.'S TRIPLE BOTTOM LINE
Hemp, Inc. (OTC PINK: HEMP) seeks to benefit many constituencies from a "Cultural Creative" perspective, thereby not exploiting or endangering any group. CEO of Hemp, Inc., Bruce Perlowin, is positioning the company as a leader in the industrial hemp industry, with a social and environmental mission at its core. Thus, the publicly traded company believes in "up streaming" a portion of its profits back to its originator, in which some cases will one day be the American small farmer -- cultivating natural, sustainable products as an interwoven piece of nature. By Hemp, Inc. focusing on comprehensive investment results -- that is, with respect to performance along the interrelated dimensions of people, planet, and profits -- the triple bottom line approach can be an important tool to support its sustainability goal.
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