Hempcrete Approved for U.S. Residential Construction

Rhea-AI Summary

Hemp, Inc. (HEMP) recently announced that hempcrete, a sustainable insulation material, has been approved for the U.S. residential building code, enabling its use in 49 states. This was confirmed during a hearing led by the International Code Council (ICC) and is set to be published in 2023 as an appendix to the 2024 International Residential Code (IRC). While it enhances green construction opportunities, hempcrete remains banned from commercial projects until 2025. Additionally, Hemp, Inc. has over 1.5 million lbs of hemp-based materials ready for production, indicating a strong supply capacity.

Positive

• Approval of hempcrete for U.S. residential building code may increase demand for hemp-based construction materials.
• Hemp, Inc. possesses over 1.5 million lbs of hemp-based materials, showcasing strong supply capabilities for future projects.

Negative

• Hempcrete remains prohibited for commercial projects until at least 2025, limiting immediate market opportunities.

LAS VEGAS, NV, Oct. 06, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Hemp Inc. (OTC PINK: HEMP): HempBuild Magazine recently reported that hempcrete, a carbon-sequestering fibrous insulation material, made from hemp stalk hurd and lime, has been approved for the U.S. residential building code, utilized by 49 out of 50 states. Hempcrete was approved for the model U.S. residential building code during a hearing last month, which was overseen by the International Code Council (ICC). The material was approved as an appendix for the 2024 International Residential Code (IRC), which governs U.S. residential building codes for 49 out of 50 states.  The Appendix may be found at: https://ushba.org/wp-content/uploads/proposal_8646-Final.pdf.

The new code, set to be published formally in 2023, will feature Hemp-Lime (Hempcrete) under “Appendix BA.” Specifically, hempcrete was approved as a non-structural wall infill system. The approval applies to one- and two-family dwellings, townhouses and should increase the availability of hemp-based building materials and facilitate greener construction projects around the U.S.

Hempcrete creates a fire-resistant fibrous insulation wall that also acts as a moisture regulator. Since hemp is an organic material, hempcrete is considered a carbon-sequestering construction material, which further improves its sustainability.

While hempcrete will be available to most home construction projects in the U.S., it remains prohibited from commercial projects until at least 2025 — that is when officials are set to renew the International Building Code (IBC), which governs any occupancies not covered by the IRC.

The construction material has long been used in France and more recently in Canada, but federal hemp prohibition in the U.S. kept it out of official building codes for decades despite its uniquely sustainable properties.

Hemp, Inc. currently has 781,000 lbs of a Hemp/Kenaf blend of a product that is well suited as a base for Hemp/Kenaf plastics or oil spill cleanup. In addition, Hemp, Inc. has enough raw Hemp/Kenaf in stock at Hemp, Inc’s manufacturing plant in Spring Hope, NC to produce another 770,000 lbs of the Hemp/Kenaf blend. The Kenaf plant looks similar to hemp even though it is a genus of hibiscus. Kenaf can be a key ingredient in the production of hempcrete because it has very similar properties to hemp when used for making plastics, oil spill cleanup, and building materials.

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.

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Hemp, Inc. Releases New High Potency CBD/CBG Vanilla Flavored Coffee Enhancer (June 9, 2022)

Hemp, Inc.'s King of Hemp CBD-CBG-CBN Natural Sleep Aid Capsules in Stock and On Sale (May 26, 2022)

King of Hemp Natural and Vanilla-Flavored CBD/CBG "Super" Tinctures Now in Stock (May 12, 2022)

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. The entire product line includes tinctures, gummies, capsules, and edibles in a variety of sizes, potencies, flavors, and formulas with a future focus on healthy foods for healthy living.

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/. 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

What recent development has occurred regarding hempcrete and Hemp, Inc.?

Hempcrete has been approved for the U.S. residential building code, allowing its use in 49 states, which could boost demand for Hemp, Inc.'s products.

When will the new building code containing hempcrete be officially published?

The new building code featuring hempcrete is set to be published formally in 2023.

What is the future outlook for hempcrete in commercial applications?

Hempcrete is banned from commercial projects until at least 2025, which restricts its market potential in that sector.

How much hemp-based material does Hemp, Inc. currently have available?

Hemp, Inc. currently has over 1.5 million lbs of hemp-based materials ready for production.