Hemp, Inc. Reports: Industrial Hemp Farming Projects Could Tap Into $1 Billion in Grants 

Rhea-AI Summary

On February 15, 2022, Hemp, Inc. (HEMP) reported that hemp has gained attention from USDA Secretary Tom Vilsack, who announced $1 billion in grants to promote climate-friendly farming. The grants aim to support sustainable agriculture practices, with hemp being highlighted for its potential to improve soil health and assist in bioremediation. Hemp can sequester carbon, making it a zero-carbon energy source. The USDA encourages projects demonstrating climate-smart practices. Hemp, Inc. is well-positioned to benefit from this trend, aiming to expand its product line and market reach.

Positive

• Hemp is recognized for its potential in sustainable agriculture, improving soil health, and assisting in bioremediation.
• Hemp, Inc. is strategically positioned to access funding opportunities from the USDA’s $1 billion grant initiative.
• The industrial hemp market is projected to grow significantly, with estimates reaching $12.01 billion by 2028.

Negative

• None.

Las Vegas, NV, Feb. 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- The “wonder crop” is in the spotlight again during the USDA Secretary’s recent tour of Lincoln University’s Dickinson Research Facility. Hemp, Inc. (OTC PINK: HEMP), one of the global leaders on the forefront of the industrial hemp industry, reports todaythat hemp’s role in sustainable agriculture has garnered the attention of USDA Secretary, Tom Vilsack, as he recently announced that $1 billion in grants will be offered by the federal government to support climate-friendly farming when he toured the facility that studies agriculture. According to the news source, grants under this program are intended to “engage agriculture, forestry and rural communities in the nation’s fight against climate change” and bolster sustainable agriculture.

What’s more climate-friendly than hemp? Environmentalists believe this “wonder crop” has the potential to make huge strides in the regenerative agriculture movement. Let’s take a look at why they believe that and how industrial hemp farming projects could see some of that $1 billion in grant money.

First, hemp can improve soil health. It can be cultivated in almost any environment across the country regardless of the climate and generate high yields with a short 120-day harvest cycle (ideal for crop rotation). “As a cover crop, hemp restores degraded soil by blocking out the room for weeds – reducing the need for synthetic herbicides and adding diversity to crop rotations.” After harvest, hemp leaves behind biomass that can be “up-cycled into added-value products or returned to the soil, feeding essential nutrients back into the ground.” (Source)

Second, hemp supports bioremediation. Bioremediation is when you use living things to heal and cleanse soil after years of toxic build-up. Hemp has a deep root structure and guards against weeds, naturally preparing the soil for rotation. One can liken hemp’s root structure to a vacuum cleaner – accumulating heavy metals and other toxins from the soil before it enters surrounding groundwater. (Source)

Third, hemp grows faster than trees and can “sequester large quantities of carbon dioxide back into the ground.” Hemp is “a zero-carbon energy source with applications in biofuel.” In fact, scientists estimate that “for every ton of hemp cultivated, 1.63 tons of CO2 is removed from the atmosphere.” (Source)

Overall, hemp, as the industry continues to mature, has the power to “lower the ecological impacts of food, fuel and fiber production, empower small-scale farmers and create jobs in a variety of industries.” But while we praise this wonder crop, we have to remember a total hemp-based economy doesn’t automatically equate to a greener future. Yes, the industry is maturing but it’s up to the farmers to ensure that it’s grown in a way that heals the land, not destroy it like conventional commodity crops which erodes soil and externalizes pollution.

The Climate 21 Project (the funding program that’s part of a broader initiative) under the Biden administration outlines the steps the USDA can take to encourage farmers, ranchers and landowners to take up practices that scientists believe can help reduce atmospheric carbon. It “taps the expertise of more than 150 experts with high-level government experience to deliver actionable advice for a rapid-start, whole-of-government climate response coordinated by the White House” and accountable to President Biden.

Hemp projects that may be eligible to receive some of the $1 billion funding must “demonstrate climate-smart production practices, activities and systems on working lands; verify the carbon and greenhouse-gas benefits associated with those practices; and work to develop markets and promote their climate-smart commodities.”  The grants are available to local, county, tribal and state governments, small businesses and for-profit organizations, nonprofits and universities. Applications are being accepted for projects between $5 million to $100 million through April 8th but the deadline for pilot projects up to $250,000 is May 27th.

For more information on grant specifics, the USDA is hosting a webinar on “Partnerships for Climate-Smart Commodities” on Wednesday, February 16, 2022 from 11:00am to 1:00pm EST. According to the website, this webinar will focus on the details of the funding opportunity and recordings will be available after the event. Click here and here for more detailed information.

Already positioned as a “go-to” consultant in the industry, Hemp, Inc. can be great resource to hemp farmers and manufacturers all over the United States. With the industrial hemp market growing exponentially, resources and contacts are invaluable. The industrial hemp market is expected to reach $12.01 billion by 2028 and is expected to expand at a compound annual growth rate (CAGR) of 16.2% from 2021 to 2028, per the most recent study by Grand View Research, Inc. 

Hemp, Inc.’s first product in its line of CBDA and CBGA products is set to be released soon. Hemp, Inc.’s sales & marketing team is currently working on large-scale orders for the company’s CBDA and CBGA products. Those interested is distributing on a large-scale basis should email sales@hempinc.comor call 877-436-7564 for more information. The entire product line will include water, tinctures, gummies, capsules, and edibles and will come in a variety of sizes, potencies, flavors and formulas that executives foresee being in high demand.

The current King of Hemp (R) product line includes:
King of Hemp® Gummies - These CBD edibles come in a variety of flavors and potencies of 25 gm, 20 gm and 10 gm. Flavors include blue raspberry, kiwi, strawberry, pineapple, guava, tropical, apple, citrus, berry tang and more. CBD Fruit Rings (20 gm and 10 gm) are available in apple, peach and watermelon. King of Hemp® Sour Bears in assorted flavors (10 gm) are in stock, too.

King of Hemp® Caviar (previously called Moon Rocks) offers high CBD potency and a rich taste. The Caviar is made from high-quality Bubba Kush hemp flower, coated in a THC-free distillate and then rolled in CBG-rich kief. While Caviar can be smoked in a pipe or vaped, it should not be rolled into a cigarette.

King of Hemp® Diamonds contain over 95% CBD and are derived from terpene-infused THC-free distillate. Diamonds are consumed by dabbing.

The robustly flavored King of Hemp® Pre-Rolls are made from organic, pesticide-free Bubba Kush hemp wrapped in RAW Natural Rolling Paper. The unique wrapper is made from 100% plants with no added chalk or dyes. Pre-Rolls are sold online as singles and in a six-pack.

Fortified Pre-Rolls utilize the King of Hemp® Pre-Roll and cover it with a high-CBD distillate and hemp CBG kief. These highly potent, flavorful pre-rolls are recommended for experienced smokers.

Midnight Express, a high CBG Pre-Roll, is made from premium hemp flowers, named in honor of the 1977 book by Billy Hayes ‘Midnight Express’, which was also an award-winning feature film, written by Oliver Stone. Hemp, Inc. uses a proprietary process for its Pre-Rolls, which includes blending the best flower from numerous hemp crops. King of Hemp® Pre-Rolls offer smokers a unique, consistent profile every time.

King of Hemp® Tinctures are currently sold out, but new-formulated tinctures with CBDA and CBGA will be available at the King of Hemp® online store and at retail locations in a few weeks.

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. has the largest industrial multipurpose hemp processing facility in North America, an 85,000-square foot facility in Spring Hope, N.C.  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.
Vilsack was quoted during a tour of the University’s Dickinson Research Facility, which studies agriculture, “The hemp project is really interesting because it has so many different potential opportunities.” He went on to say, “Industrial hemp is just a tremendous crop – the fact that you can have building material, you can have clothing and a variety of other things is pretty interesting.”

HEMP, INC.’S LAS VEGAS FACILITY
In addition to Hemp, Inc.’s 85,000-square foot facility in Spring Hope, NC, the Company also has a 10,000-square foot research and development/manufacturing facility located in Las Vegas, Nevada… home of some of the biggest named trade shows and conventions in the United States.  Easily accessible in the heart of the valley, this facility researches, formulates, develops and produces the Company’s line of products and stays abreast of the industry’s scientific data and findings. Those interested in Hemp, Inc.’s King of Hemp®products or those who require more information can visitwww.KingofHempUSA.com; email sales@kingofhempusa.com; or, call 877-436-7564.

HEMP, INC.’S RECENT ACQUISITIONS
Hemp, Inc. had its second major acquisition in less than three months. In the all-stock transaction, Hemp, Inc. acquired full ownership of American Sustainable Rubber Company, LLC (ASR). This specific acquisition will enable Hemp, Inc. to leverage ASR’s proprietary intellectual property to improve its hemp grows and harvesting. The first acquisition was acquiring Ferris Holding, Inc., a leading co-packer and manufacturer based in Las Vegas, Nevada. To read more on how these strategic acquisitions are positioning the Company for long-term profitable growth, click here. 


WHAT IS HEMP, INC.?

With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small hemp farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. The Company is on a mission to be a powerful engine for social change and economic revival, worldwide, by providing hemp products that are eco-friendly, sustainable and healthy. Hemp, Inc. executives believe there can be tangible benefits reaped from adhering to a corporate social responsibility plan.

FORWARD-LOOKING DISCLAIMER AND DISCLOSURES

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 out the Hemp, Inc. website by visiting www.hempinc.com/hemp-financial-disclosures/. 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, uncertainties.

Contact:

Hemp, Inc.

Investor Relations: 855-436-7688

Sales: 877-436-7564

ir@hempinc.com

FAQ

What recent announcement did the USDA make regarding hemp?

The USDA announced $1 billion in grants aimed at promoting climate-friendly farming, highlighting hemp's role in sustainable agriculture.

How can hemp contribute to sustainable agriculture?

Hemp improves soil health, supports bioremediation, and sequesters carbon, making it an effective crop for sustainable practices.

What is the expected growth of the industrial hemp market?

The industrial hemp market is expected to reach $12.01 billion by 2028, growing at a compound annual growth rate of 16.2%.

How is Hemp, Inc. planning to utilize the USDA grants?

Hemp, Inc. aims to leverage the USDA grants by enhancing its product offerings and supporting climate-smart agriculture initiatives.