Hemp Cultivation, Processing & Extraction News

Multistate producer Hemptown ready to scale hemp production, processing sites with $23 million capital raise

Hemptown USA, a multistate hemp producer and CBD company, completed a $23 million round of financing last week, allowing it to move forward with ambitious expansion plans in Colorado, Kentucky, Northern California and Oregon. The company will use the raise to purchase $5.5 million worth of Oregon CBD seeds. The rest will be used to: […]

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Applications for hemp licenses continue to balloon across US

The number of applications to grow hemp received by states has continued to increase rapidly in the wake of the 2018 passage of the Farm Bill. The West Virginia Agriculture Department reported that the number of licenses issued so far this year has more than tripled to 158, compared with 46 in 2018. The agency […]

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Kentucky hemp company researching cultivation in space

Update: The launch scheduled for Friday morning was delayed until Saturday. A Kentucky hemp company is sending seeds into space to see what changes when the plant has less gravity. Winchester-based Atalo Holdings’ seeds will hitch a ride to the International Space Station aboard SpaceX 17, scheduled to launch Friday. Scientists will be looking at […]

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Hemp industry awaits more hemp import, export guidelines

Hemp entrepreneurs are still waiting to realize the benefits of being able to import hempseed as a commodity, even as they cheer recent assurance from the federal government that change is on the way. The U.S. Department of Agriculture (USDA) released new guidance this month on how hemp importing will work now that federal drug […]

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Canopy Growth settles on New York hemp site, will start building this summer

Canadian marijuana giant Canopy Growth has chosen a small New York town near the Pennsylvania border as the site for its $150 million entrance into the U.S. hemp market. Canopy announced Monday it will build an industrial park on a 48-acre property in Kirkwood, New York, about 5 miles north of the Pennsylvania border. The […]

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In groundbreaking move, USDA ready to protect seed-propagated hemp genetics

The U.S. Department of Agriculture is ready to protect seed-propagated hemp varieties, a landmark move that could generate numerous business opportunities for breeders of the plant. The USDA announced Wednesday that its Plant Variety Protection Office (PVPO) is taking hemp applications because of the passage of the 2018 Farm Bill. Intellectual-property protection for hemp genetics comes […]

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Standards standoff: CBD, hemp industries debate how to self-regulate

Everyone in the hemp industry seems to agree that voluntary safety regulations would help the burgeoning CBD industry avoid troublesome regulations from the federal government. Problem is, there’s little agreement on how it should be done. Manufacturers and retailers have been sniping for years over the best way to grow and process cannabis used to […]

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Will hemp farmers have seed for 2019? USDA issues new guidance

The U.S. Department of Agriculture (USDA) has stepped in to assist hemp producers and exporters to bring hempseed to the United States now that the U.S. Drug Enforcement Administration (DEA) is not involved. In addition to the 2018 Farm Bill removing hemp and its derived products from the U.S. Controlled Substances list, the measure removed […]

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Sol Global subsidiary closes $12 million round of private financing

Toronto-based cannabis investment firm Sol Global Investments has completed a nonbrokered private placement financing of common shares of its international hemp subsidiary, Heavenly Rx, for more than $12 million. As a result, Sol Global now holds 34.4% of Heavenly Rx’s shares, while the rest of the common shares were sold to accredited investors for 10 […]

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Sanitas Peak to invest $3M in hemp producer Colorado Cultivars

Sanitas Peak, a Boulder, Colorado-based investment group, said it has placed a $3 million debt facility with Colorado Cultivars, a producer of industrial hemp. Proceeds from the loan primarily will be used to develop production and processing facilities at the company’s main farm in Eaton, Colorado. Colorado Cultivars grew 1,500 acres of hemp in 2018 […]

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Grain company converting Indiana food factory for CBD manufacturing

Colorado-based PHM Brands, which specializes in agricultural-based ingredients and blended products, is venturing into industrial hemp, starting with a CBD factory in Indiana. PHM purchased a Prinova wheat germ plant in Michigan City, Indiana, but found that demand and sales for that product were short. The company opted to instead convert the factory for industrial hemp processing […]

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‘Rocky, risky and untraveled’: Prominent analysis firm offers warning about hemp

A global agricultural research firm called hemp farming a risky business based on inconsistent pricing and production data and an unstable market. RaboResearch Food & Agribusiness said that while the U.S. hemp industry is poised for growth, there are serious financial, regulatory and agronomic risks that farmers and investors must understand. “The road ahead is rocky, […]

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