- Industrial hemp is the only commodity that has the potential to generate revenue from multiple finished goods in the global food, construction materials, nutraceutical, textile and bio-energy industries
- Global Hemp Group completed hemp trials last year which set the stage for a full-fledged commercial hemp operation in New Brunswick, Canada, in 2018
- Under Canadian law, CBD will become legal to extract from Industrial Hemp in July 2018
- Hemp Business Journal estimates that the hemp industry will grow to $1.8 billion in sales by 2020, led by hemp food, body care, and CBD-based products
- Official data demonstrates that the hemp industry is growing rapidly, at a 22 percent five-year CAGR, and is being led by food and body care products, with hemp CBD products showing a 53 percent AGR
Global Hemp Group, Inc. (CSE: GHG) (FRANKFURT: GHG) (OTC: GBHPF) is just beginning to scratch the surface of what will over time become a robust market for the production of raw materials and a variety of wholesale products and consumer goods developed from the non-psychoactive industrial varieties of the species Cannabis sativa L.
Global Hemp Group intends to establish and develop a portfolio of companies interlinked in the production of hemp, from its initial cultivation to wholesale materials delivered to product developers and distributors.
Through joint ventures and acquisitions, GHG is focused on cannabinoid production, with medium-term plans to operate in the automotive, building materials, bio-composites, food, nutritional supplements and nutraceuticals markets. The company is guided by the overarching theme of ‘global environmental stewardship’. Global Hemp Group intends to apply key concepts of sustainability and social responsibility in all of the markets that it enters.
With a successful hemp cultivation trial last year, GHG and joint venture partner Marijuana Company of America, Inc. (OTC: MCOA) have set the stage for development of the first commercial hemp operation on the Acadian peninsula of New Brunswick, Canada, in over 20 years.
With the expected legalization of recreational cannabis and the extraction of cannabinoids from industrial hemp in mid to late 2018, the partnership expects to begin cannabinoid extraction from a minimum of 125 acres of hemp grown this year in New Brunswick, Canada. The company is also discussing partnerships for straw processing to create building materials following the October harvest this year, with a medium- to long-term plan of building permanent processing facilities by the fall of 2019.
GHG is also pursuing hemp cultivation and extraction opportunities in the U.S. Pacific Northwest, with the goal of operating in both the Canadian and United States hemp markets.
GHG seeks to establish an operating strategy it refers to as the Hemp Agro-Industrial Zone (“HAIZ”) (http://cnw.fm/A4Iqr), which will be focused on building a platform of cooperation between farmers, labor, technology and capital across all industrial hemp sectors to create collective value for shareholders. All parts of the plant are to be utilized with the HAIZ concept, including the production of CBD and other cannabinoid-based wholesale products from the flowers and leaves, cottonized fibers from the straw, building materials from the hurd (woody core) and oils and cakes from the grain.
A number of companies have begun producing hempcrete blocks that deliver a durable product that retains thermal mass and has a low carbon footprint when it comes to energy usage (http://cnw.fm/Ch3uq). They could also potentially reduce building material costs by 50 percent or more when cultivated, processed and constructed on site. Hempcrete has thermal qualities that preserve optimal indoor temperatures year-round in a wide variety of regions and climates. In addition, it is mold free, pest free and fireproof.
- A Washington state company is retrofitting homes with hemp;
- A California company completed the state’s first permitted “hempcrete” structure in October (http://cnw.fm/9C8qF);
- This Asheville, North Carolina, hemp home is one of four hemp homes constructed in the state (http://cnw.fm/oTs06);
- Israel’s first hemp house was built last March on Mount Carmel;
- Canada’s JustBioFiber constructed a house on Vancouver Island using an interlocking Lego-like hemp block, and there are hundreds of hempcrete buildings across Canada;
- In Britain, five hempcrete homes were built in 2017 alone;
- France has been constructing buildings with hemp for decades;
- South Africa has promoted this hemp home as Africa’s most sustainable building (http://cnw.fm/NYA1v).
There are more than 10 million cars on the road that use hemp bio-composites for door panels, dashboards, consoles, carpeting and even brake pads. Mercedes, BMW and Lotus have been using hemp in their vehicle construction for many years (http://cnw.fm/J3Qjd). Auto manufacturers find that hemp auto parts lower vehicle weight and therefore improve gas mileage. Glass fiber used to make the body of a Chevrolet Corvette could easily be replaced with hemp fiber and be stronger and more resilient. Henry Ford knew in the 1940s that natural bio-composites could replace heavier metals used in auto manufacturing (http://cnw.fm/FtJ0k) and be lighter and stronger than traditional materials.
It has been proven that hemp can be a sustainable alternative for many traditional materials used throughout history.
Hemp is the only plant on Earth that can feed, clothe, house, fuel and medicate humanity. Hemp is potentially the most industrially usable biomass produced over the shortest growth cycle, utilizing the least amount of water, nutrients and pesticides, while sequestering the greatest level of carbon. It is one of the few plants on the planet that can be grown commercially almost anywhere in the world.
For more information, visit the company’s website at www.GlobalHempGroup.com
More from PsychedelicNewsWire
PsychedelicNewsWire (PNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) PsychedelicNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, PNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. PNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, PNW brings its clients unparalleled visibility, recognition and brand awareness. PNW is where news, content and information converge.
For more information please visit https://www.psychedelicnewswire.com