Hemp Inc (OTCMKTS:HEMP)
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HEMP Analysis:
The company is focused on the industrial hemp industry and on various green, sustainable products offered by the industrial hemp industry to the world. The company, through its subsidiary, Industrial Hemp Manufacturing, LLC, produces lost circulation material and spill absorbents for the oil and gas industries. Industrial Hemp Manufacturing, LLC focuses on Drillwall and Spill-Be-Gone, of which the former is a non-toxic, biodegradable, drilling fluid additive used in applications relating to oilfield drilling. The latter is made from the inner core particles of kenaf and hemp plants and can be used for the cleanup of emergency oil spills, as also in the automotive repair shops to keep the floors free of oil or in manufacturing plants to segregate machinery oil spills posing a danger to workers on the job. Its SpillSuck is designed for use in applications relating to auto repair garages, oil drilling platform decks and manufacturing plants.
Industrial Hemp Manufacturing LLC owns the largest and only hemp fibre decortication plant of its size in North America. One of the first products is DrillWall, which is a testament drilling material called lost circulation material used in major oil, water and gas companies. Lost circulation of drilling fluids can have an impact on time, money and safety and this is a valuable solution for these risks.SpillSuck is a super absorbent are degradable material manufactured from the core of kenaf and hemp plants. Navy studies have determined that the core material is a super absorbent natural material and was one of the products used in the cleanup of the BP Deepwater Horizon oil spill. Fox News has reported that the efforts to save animals and wildlife species using this material was successful. The management team has more than 50 years experience in handling and growing fibre plants and the company is positioned to be a leader in the industrial hemp manufacturing sector.
Industrial Hemp Manufacturing has signed a letter of intent with Mullen View Farms as well as one with John Finch Farms. According to the former, IHM will purchase 1000 acres of raw hemp to be harvested throughout eastern North Carolina this year while the latter stipulates that 500 acres of raw hemp stock will be purchased. This will provide the company with a little more than 3000 acres for hemp growing. Hemp Inc. Has the infrastructure to process millions of pounds of hemp fibres and stocks annually on a commercial level and the 70,000 square-foot industrial hemp processing facility on more than nine acres in North Carolina is the only one of its size in the North American continent. Advocates of industrial hemp are optimistic about the prospects of industrial hemp throughout the country. The company has secured an outstanding line-up of experts from all over the world to educate people on key topics such as the transition from traditional farming to organic farming, and so on. Topics such as organic certification and CBD strains and technologies will also be covered.
The industrial hemp industry in 2017
After the transformation in 2016, company executives are looking forward to 2017, with the Hemp Growth Act in Rhode Island and industrial hemp laws have now established themselves in 33 states. The company believes that now that more people are becoming aware of the benefits of hemp cultivation, it will become a prized natural resource. The US hemp market is around $ 600 million per year, with more than 25,000 users and the US is the largest importer in the world, while the two largest exporters are China and Canada. Industrial Hemp Manufacturing already has signed an agreement to purchase 1500 acres of hemp from the Bioregion Innovation Cooperative, which is seeking to build communities throughout North Carolina. The company is also in the final stages of bringing the multipurpose industrial hemp processing facility in North Carolina online and this should be operating shortly.
The company has been extremely active as it approaches the completion of its much anticipated milling operation in North Carolina. The mill will be able to process and produce Lost Circulation Material and oil absorbent material for sale in the market. Eventually, the company hopes to produce fibre for the paper and fabric industries and other industries such as plastics, building materials and beauty related products. The prospects for the hemp industry look promising and the company has seen a recent upsurge in activity.
Broad Street Alerts has not been compensated for this report by anyone and the opinions if any are that of the author Ramakrishnan Iyar. Author's Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I, wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in the article.