Hemp, Inc. Announces Largest Industrial Hemp/Kenaf Sale to Date
Hemp, Inc. (OTC PINK: HEMP) has announced its largest sale of DrillWall™, an all-natural kenaf/hemp Loss Circulation Material (LCM) for the oil and gas industry, delivering 120,000 pounds via four semi-trucks. The sales agreement, signed in late 2019, was disrupted due to the COVID-19 pandemic, but distribution is now back on track. CEO Gary Perlowin noted a substantial order negotiation for products at their North Carolina facility, which can produce oil spill cleanup product Spill-Be-Gone™ efficiently. Hemp, Inc. aims for a profitable 2023, showcasing its leadership in the hemp industry with diverse product offerings.
- Largest sale of DrillWall™ to date with 120,000 pounds delivered.
- Distribution under the sales agreement has resumed after pandemic delays.
- Negotiating a substantial order for all products available at the North Carolina facility.
- Expecting high demand for both DrillWall™ and Spill-Be-Gone™, indicating strong market interest.
- None.
LAS VEGAS, NV, Feb. 16, 2023 (GLOBE NEWSWIRE) --
via NewMediaWire -- Hemp, Inc. (OTC PINK: HEMP) announces its largest industrial product sale to date. Four semi-trucks hauled 120,000 pounds of Hemp, Inc.’s DrillWall™, the only all-natural kenaf/hemp Loss Circulation Material (LCM) blend of its kind on the market, for the oil and gas well drilling industries. The sales agreement was initially signed at the end of 2019 through Hemp, Inc.’s subsidiary, Industrial Hemp Manufacturing, LLC, (IHM), and was set to sell 1 million pounds worth of DrillWall™ over the course of one year. However, due to the COVID-19 global pandemic rearing its ugly head (or ugly spikes), there was a disruption in the distribution.
“We are back on track with distribution under this agreement and we are also (separately) negotiating a substantial order for literally everything we have at our processing facility in North Carolina,” says Gary Perlowin, CEO of Hemp, Inc. There are 444,000 pounds of Spill-Be-Gone™ (an oil spill cleanup product made from the core particles and powder of the kenaf and hemp plant) and 750,000 pounds of raw kenaf bales that can be turned into Spill-Be-Gone™ in a 60-day period. Farmers are also on standby, ready to grow more kenaf this year in order to keep a continual supply.
On a cost-performance basis, DrillWall™ is superior to most LCMs in the marketplace and is the best option for buyers looking for non-toxic alternatives for their operations. Specifically, DrillWall™ is made of kenaf and hemp cellulose. It also includes milled products from kenaf and hemp that are made into oil drilling fluid additives and oil absorbents. Thus, there has been a sea of interest in DrillWall™ and Spill-Be-Gone™ (and their raw materials) over the past several months so the Company is expecting ample activity at the plant in North Carolina.
As one of the pioneers in the hemp industry, Hemp, Inc.’s foothold runs 14 years deep. The Company has facilities on the east and west coast and offers the broadest range of industrial hemp products. In addition to the DrillWall™ and Spill-Be-Gone™ mentioned above, Hemp, Inc. also has its full line of CBD/CBG/CBN that includes CBD-CBG Topical Pain Relief Roll-on, CBD/CBG Natural Coffee Enhancers, CBD/CBG Tinctures, and CBDa/CBGa/CBD/CBG/CBN Capsules. Hemp, Inc. also has the means to produce hempcrete, horse bedding, hemp bio-plastics, and more. For more information on Hemp, Inc.’s products, click here.
We expect 2023 to be a banner year in terms of generating income.
About Hemp, Inc.
With more than 10 years of experience in growing and processing hemp in North America, Hemp, Inc. has an established network of industry professionals in every segment of the industrial hemp industry. Hemp, Inc.’s 85,000-square-foot facility on over 9 acres in Spring Hope, N.C. is one of the largest industrial multipurpose hemp processing facilities in North America. Its mission of providing green solutions that help make the world a better place continues to flourish as the company advances an ever-growing portfolio of revenue and value-generating synergistic businesses. Hemp may be the salvation in retooling America for greener, more sustainable domestic manufacturing.
The Company will continue to keep its shareholders up to date on all pertinent material events, product releases, production plans, and inventory availability. Those interested in distributing on a large-scale basis should email sales@hempinc.com or call 877-436-7564 for more information.
Forward-Looking Statements
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. The Securities and Exchange Commission (SEC) requires issuers to provide “adequate current information”. Financials for Hemp, Inc. are listed on the OTC Exchange. More information can also be found on the Hemp, Inc. website by visiting www.hempinc.com/hemp-financial-disclosures/. The material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements involve risks and uncertainties.
Contact: Hemp, Inc.
ir@hempinc.com / (855) 436-7688
Sales: (877) 436-7564
FAQ
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