Hemp Inc (OTCMKTS:HEMP), the world leader in the production of industrial hemp has applauded Illinois Senate for legalizing industrial hemp in The Prairie State. Prior to that the company also appreciated Mary Fallin of Oklahoma Government for signing a legislation allowing the local farmers to cultivate and harvest hemp. The American company with the largest multipurpose industrial hemp processing facility in the Western hemisphere has now invited the bulk hemp biomass purchasers to secure their supply of the production.
The invitation is mostly addressed to those companies that use CBDs in their product line. Lately, companies have started using CBD hemp biomass for the production of CBD isolate and CBD distillate and these companies can certainly benefit monetarily if they secure the supply of hemp biomass in bulk. These two CBD products are the mainstay of the myriad CBD-based products that are currently being marketed by the large group companies in the CBD industry.
HEMP Wants To Be The Significant Supply Source For Hemp Biomass
According to the CEO of HEMP, Bruce Perlowin the potential buyers are on the lookout for a reliable and significant supply source that can be easily integrated into their pharmaceutical or cosmetic formulations and HEMP can play a major role in this. Perlowin stated, “Hemp, Inc. has the largest industrial hemp multipurpose processing facility and milling operation in the western hemisphere and we will be growing up to 25,600 acres of industrial hemp this year.”
It comes to around 40 square miles of industrial hemp that the company will be selling in the form of hemp biomass to the large-scale CBD-based product manufacturers. The Nevada-based company is currently eyeing the Fortune 500 companies which are a huge market. These companies are on the verge of adding CBD product-line to their product profile.
Illinois & Oklahoma Legalize Industrial Hemp
In 2014, Illinois legislature passed a bill allowing the farmers to grow hemp for research purposes. But the latest bill passed on April 24, 2018, has taken the movement a step further and now allows the farmers to not only grow industrial hemp but also permits the development of different commercial and industrial products from it.
Just a day before the passing of this bill, the Oklahoma government created the Oklahoma Industrial Hemp Agricultural Pilot Program on April 23, 2018, with the hope that it will help revive the struggling economy of the state.