Industrial Hemp One Step Closer to Full Federal Legalization
LAS VEGAS, NV–(Marketwired – Jun 15, 2016) – Hemp, Inc. (OTC PINK: HEMP) executives update shareholders and potential shareholders on hemp “industry material news” as it continues to evolve and surface on the media circuit from state to state.
Last week, Oregon Senators Ron Wyden and Jeff Merkley and Kentucky Senators Mitch McConnell and Rand Paul introduced a bipartisan resolution “recognizing the important role industrial hemp could play in boosting the nation’s agricultural industry and economy.” Passed by a unanimous vote, the resolution officially backed the 7th Annual “Grow Our Future” Hemp History Week June 6 – 12, 2016.
Sen. Wyden commented, “Another year has gone by and industrial hemp somehow remains on the controlled substances list. The United States is the world’s largest consumer of hemp, but current restrictions on growing industrial hemp in the U.S. force American businesses to import about $76 million worth of hemp to make retail products like clothing, food, soaps, paper products, and construction materials that are made in America.”
Bruce Perlowin, CEO of Hemp, Inc. (OTC PINK: HEMP), said, “Industrial hemp is breaking down barriers with legislation in support of the industrial hemp industry, due to the enormous benefit it brings to the economy. There is a continual increase in demand for this environmentally friendly natural fiber. The bipartisan resolution passed with a unanimous vote which tells us that Industrial hemp is being recognized more and more throughout the state level, which in turn will make a huge impact on the Federal level.”
According to the article, the Senators stated that while “Oregon and Kentucky are among the 28 states that have already defined industrial hemp as distinct from marijuana and removed barriers to production, under current federal law, farmers in states that allow industrial hemp research and pilot programs must still seek a waiver from the Drug Enforcement Administration.”
Due to federal restrictions, the largely untapped billion-dollar hemp industry has been distorted because of vague distinctions from its cousin plant, marijuana. Hemp History Week, however, for years now, has remained steadfast in banding grassroots organizers, farmers, producers, individual and business advocates from all walks of life to change Federal policy on hemp in the U.S. This year, the week-long awareness campaign focused on the role hemp plays as a sustainable crop in regenerative agriculture, green technology, public health and environmentally friendly products. (To be a sponsor of Hemp History Week’s hemp awareness campaign, click here).
Many are wondering how industrial hemp continues to remain on the Federal government’s controlled substance list. With the many uses for hemp, this economical, sustainable plant can yield a very viable crop. Hemp, Inc. (OTC PINK: HEMP) plans on growing 50,000 acres of hemp in North Carolina in order to fulfill customer needs. Business opportunities continue to unfold for Hemp, Inc. as more awareness is brought to industrial hemp by stout organizations such as the National Hemp Association (NHA) that is dedicated to the re-birth of industrial hemp in America. The NHA helps to connect farmers, processors, manufacturers, researchers, investors and policy makers to accelerate the growth of the industrial hemp industry in America. To become a member of the NHA, click here.
Patagonia, which grew out of a small company that made tools for climbers, made a strong case for legalizing Industrial Hemp Cultivation with ‘Harvesting Liberty‘ Documentary. “Industrial hemp is a crop that has the potential to lower the environmental impacts of textile production, empower small-scale farmers and create jobs in a wide variety of industries. Two non-profit groups, Fibershed and Growing Warriors, are working to reintroduce industrial hemp into Kentucky — and eventually U.S. agriculture.” Watch the short film, Harvesting Liberty, by Patagonia.
On July 4, 2016, a petition will be delivered urging Congress to pass the Industrial Hemp Farming Act of 2015/2016 (S.134 and H.R. 525) legalizing the cultivation of industrial hemp in the United States. If you, or anyone you know, want to take action, connect with the National Hemp Association.
While the official week of Hemp History Week may have ended, awareness continues and momentum still builds to de-classify hemp as a Schedule 1 drug. In fact, according to Agweek.com, the first Science of Industrial Hemp conference will be held July 28-29, 2016 in Denver, Colorado. The event is sponsored by the Crop Science Society of America and the American Society of Agronomy. Scientists and other agriculture officials from throughout the United States and Canada are participating. For more information on this event, visit the Crop Science Society of America.
While hemp gains momentum, Hemp, Inc. is processing Kenaf, the cousin plant to hemp in the hibiscus family. The company has already sold 7,000 pounds of raw Kenaf to a Tennessee company involved in the biofuel industry, as mentioned in a previous press release. According to David Schmitt, COO of Hemp, Inc.’s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM), the company purchased the raw Kenaf for testing and evaluation. “We are extremely optimistic that this sale will lead to even more sales of our raw Kenaf,” said Schmitt. “We are also currently working with several Fortune 500 companies on various projects involving either Kenaf or industrial hemp.”
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.
Moreover, in Nevada, the Nevada Hemp Association (a diverse group of Nevada citizens from the public and private sector dedicated to the research, education and full economic development of Industrial Hemp in Nevada) is excited to announce the start of their industrial hemp pilot projects: “Desert Climate/Heat Tolerance” and “Seed Acclimation.” To join in the effort to maximize the vast potential of Industrial Hemp, visit the Nevada Hemp Association.
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.”
Whalen also commented, “We will be working hard to develop a Certified Nevada Hemp Seed program to benefit the Industrial Hemp Program in the state of Nevada. We are grateful to Bruce Perlowin and his genuine commitment to the Industrial Hemp industry.” If interested in getting involved with the Nevada Hemp Industry, contact Michael Whalen.
“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.
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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