According to CEO, Perlowin, “These sales don’t happen overnight because they are multi-year sales. But because of this 7,000-pound sale of raw Kenaf, product sales for Hemp, Inc. have been kicked into high gear.” Company executives say they are currently negotiating a five-million-pound potential sale of raw Kenaf. “We received a serious inquiry and price request for five million pounds of the raw Kenaf we have on hand. If we finalize this sale, we could be looking at $1,250,000.”
Kenaf fiber, while great for the textiles industry, can also be used to make end products such as paper, grass mats, fiberglass substitutes, fiber composites for the automotive industry, animal bedding, chicken litter, animal forage, particle board, potting soil, and more.
Michael Whalen, President of Nevada Hemp Association, said, “With the generous support of Hemp, Inc. and assistance from the University of Nevada (Reno) Cooperative Extension’s Las Vegas Campus, we will be moving forward with our research on several certified imported cultivars of Industrial Hemp. We will find out which cultivars perform best in extreme desert conditions here in Southern Nevada. Our Industrial Hemp Research Center, located in Pahrump between Las Vegas and Death Valley National Park, is one of the hottest places on Earth during the summer. We should have seed in the ground by the 4th of July and then we’ll see what happens.”
“We have also been in negotiations with several CBD manufacturers who want to rent 1,000 to 3,000 square feet in our 70,000 square-foot facility to process CBDs. They want to be where the largest supply of hemp will be grown in America. We suspect we’ll be growing a lot more in North Carolina than we originally anticipated, so we’re considering expanding this model of creating space in our facility or building additional buildings on or near our existing campus as we quickly become America’s first Hemp Hub. With rapid technological advances in CBD extraction, CBD manufacturers will want to have a place to showcase their manufacturing equipment for sale, and create a somewhat turnkey solution for the production of their CBD oils and other products. Our North Carolina Hemp Hub is the perfect place for this,” concluded Perlowin.
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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.
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