- The company projects $19 million total revenue in 2019 and up to $104 million in 2020 as it scales operations to meet rising global demand
- Hemptown USA obtained and grew one million rare CBG seeds for the 2019 growing season, yielding 780,000 pounds of dried biomass, and producing 10.3-13.4 percent full-spectrum non-intoxicating cannabinoids
Hemptown USA is a privately-owned grower of full-spectrum, feminized hemp using premium-seed genetics. The company is the premier player on the cannabigerol (CBG) market which remains strong even as the price of cannabidiol (CBD) continues to experience price compression due to an explosion of hemp grown. One of the key phytocannabinoids present in feminized hemp, CBG has been attracting a lot of attention in the scientific community for its many anti-inflammatory and anti-bacterial properties. CBG is the precursor cannabinoid forming the basis for synthesis of all other cannabinoids, which is why it’s often referred to as the “stem cell” or “mother” of cannabinoids.
These unique features lend CBG great therapeutic promise. Studies show the compound can help regulate mood because it boosts anandamide, the native “pleasure” molecule, and acts as a GABA reuptake inhibitor (http://cnw.fm/7hvEu). Research also suggests that CBG is a potent anti-inflammatory and anti-cancer agent (http://cnw.fm/hEFQ1), as well as a good treatment option for anxiety and depression. In addition, research points to it having potential as an effective natural option for addressing medical problems like glaucoma, inflammatory bowel disease, neurological conditions, bladder disorders and bacterial conditions. CBG is also the key compound in a new FDA application for the treatment of skin conditions like psoriasis and eczema.
Research has however been limited due to the low concentration of CBG in plants. Feminized hemp plants must normally be harvested early in the growth process to capture the CBG before it changes its form to CBD and tetrahydrocannabinol (THC), but Hemptown USA plants have been designed to allow harvesting later at full maturity. They have also been designed to be far richer in CBG (10-14 percent). In 2020 and beyond, the company has exclusive rights to 20 percent of the latest and greatest novel cannabinoids being produced by their genetics partner.
Hemptown just completed in the fall of 2019 a 2.1-million-pound harvest of both CBG and CDB rich dried hemp biomass and will be scaling its down stream operations to meet global demand in the wake of the successful 2019 growing season. According to Hemptown data, the company is on track for 2019 revenue of $19 million and is projecting $104 million revenue for 2020 once down stream extraction/production is in full swing. In 2018, the company harvested 110,000 pounds of full-spectrum biomass with CBD content of around 14 percent from its Oregon hemp farms.
The company grew over 1,500 acres in Oregon, Colorado and Kentucky. The Oregon operation is focused exclusively on rare genetics and plans to expand cultivation to 800 acres for the 2020 growing season. Combined with its innovative harvesting measures, this uniquely positions Hemptown as the largest producer of CBG in North America and the world.
The scarcity of CBG and growing demand for the compound have led to an increase in popularity and market price for CBG-based products. In the U.S., the price for CBG distillate/isolate is now five to ten times higher than that of CBD oil and forecasts suggest that CBG will rival CBD’s popularity over the next few years.
With an average margin of 70-80 percent, Hemptown offers a diversified product line that includes top flower, distillate, biomass, isolate and water-soluble ready. Several consumer brands are presently in development with launch dates set for winter 2019. The benefits of Hemptown’s products for beverage, food, and cosmetic companies include purity, potency, cost effectiveness, and marketplace strength.
Headquartered in Portland, Oregon, Hemptown is a proven grower of broad-spectrum hemp biomass using premium seed genetics that contain less than 0.3 percent THC and exceptionally high CBD content of up to 20 percent. The company’s “soil to oil” methodology combines seasoned professionals working in hand-picked agricultural microclimates located in Oregon’s famed Emerald Triangle, as well as Kentucky and Colorado.
For more information, visit the company’s website at www.HemptownUSA.com
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