LAS VEGAS, NV–(Marketwired – Dec 23, 2015) – Hemp, Inc. (OTC PINK: HEMP) reported today its Chief Operating Officer of its wholly owned subsidiary, Industrial Hemp Manufacturing, LLC, David Schmitt, spoke at the Progressive 15 Hemp Expo in Akron, Colorado. The Hemp Expo, held Monday, December 14, 2015, was to help educate farmers on growing and processing industrial hemp. Progressive 15 is North East Colorado’s single, unified voice to influence public policy and enhance their economic viability and quality of life. Schmitt was invited to speak on behalf of Hemp, Inc. as part of the Manufacturing Panel. The other companies on the Manufacturing panel includedPureVision and US CBD Corp.
During the ten-minute presentation given by Schmitt, he updated and informed attendees and other panel members on Hemp, Inc.’s progress of its decortication facility (Hemp, Inc.’s biggest asset) in Spring Hope, North Carolina and the planned revenue generator for the company. He also discussed processing industrial hemp in North Carolina.
“We own the largest natural fiber decorticator in the USA. There are two in France and two in South Africa. Since May 2015, we’ve been reassembling it. Even though hemp is legal in North Carolina, there’s still a lot of work to do because we still have to set up a commission to regulate it (i.e., how to bring seed into the state and what that entails). We are very optimistic we can have seed in the ground come April of 2016. Until that happens, we will process kenaf through next year and then beginning 2017. Once we convert the line from kenaf to industrial hemp, we won’t go back to processing kenaf,” said Schmitt.
He continued, “The products we’ll be manufacturing, initially, will be for the automotive and textile industry (the fiber). The hurd will be used to manufacture products for the gas and oil drilling industries as well as products to clean up oil spills. A 1999 U.S. Naval study found that the inner core of the kenaf plant was the most absorbent material on Earth. It can be used in deep-water disasters. The LCMs (Loss Circulation Materials) are used to drill. These are the types of products we’ll be manufacturing once the plant is operational in the first quarter of 2016.
“By the end of 2016, we’ll be employing 100 employees just in the factory. A year after that, we’ll probably be up to 200 employees. Spring Hope is about 20 minutes east of Raleigh in the middle of a farming community. We’ll partner with farmers all over the state of North Carolina to purchase their hemp crop and will process it in our facility.”
Schmitt also stated, “The money maker in North Carolina, for at least the past 2 decades, has been tobacco. However, the quota for the tobacco farmers is being reduced more and more. They can’t make money on corn or soybeans. The two crops in North Carolina that have been good to farmers have been sweet potatoes and tobacco. Most tobacco crops are being moved offshore, so they’re looking for alternative crops and nothing looks more promising than industrial hemp. The farmers in North Carolina are very excited.
“We’ve also been visiting Colorado once a month, on average, to work with their farmers too. We are also working on a very small decortication system for the farmer who is growing 20 to 40 acres that will give them the ability to decorticate the hemp stalk at their own farm. Once that happens, that makes it logistically feasible for us to purchase that material from them. We are working toward getting one in Colorado late Spring/early Summer to help them maximize the value of their industrial hemp crop. It’s small in scale so the portable decortication machine can be pulled with a pick up truck or tractor.”
Hemp, Inc. will continue to update and educate its shareholders through their “Educational Press Releases.”
The expo also featured panel discussions on the Legality of Industrial Hemp under Federal and Colorado State Law, Industrial Hemp Breeding, Manufacturing, Hemp Farmers, Crop Insurance and Farm Loans, Banking and Hemp Production, Water & Soil Testing for Hemp, Farm Equipment for Industrial Hemp, and Law Enforcement.
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UPDATE ON HEMP, INC.’S DECORTICATION LINE
Hemp, Inc. continues to update its shareholders every step of the way. According to its most recent video update (published December 22, 2015), the multi purpose processing industrial hemp plant in North Carolina, nestled on 9 acres, is nearing completion. The frame for the industrial hemp testing lab has been built. The transformer is complete. The disconnect switch is in place. Electricians continue to finalize miles of electrical work.
Outside the facility, the kenaf field will soon be cut and later brought inside for baling. According to David Schmitt, IHM‘s COO, the first frost kills the kenaf, then it sits in the field to defoliate. When the moisture content drops below 12%, it’s ready to be baled. The Hemp, Inc. portable decortication machine is also being re-designed for optimal efficiency. Not only is it expected to produce millions of dollars in revenue a year from processing kenaf and, later, hemp, it’s aligned with Hemp, Inc.’s commitment to the American farmers and to spearheading a new clean, green American Agricultural and Industrial Revolution.
While Hemp, Inc. will continue to market its hemp-based cosmeceutical and nutraceutical product lines, the legalization of industrial hemp in North Carolina has been a game changer for the company. Hemp, Inc. expects its decortication line to be fully operational by the second quarter of 2016. It is the only commercial facility in America at this time that will be able to process raw hemp.
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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 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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