Active firms from around the market with prevailing developments in the hemp market include Hemp Inc (OTCMKTS:HEMP), Medical Marijuana Inc (OTCMKTS:MJNA), Surna Inc (OTCMKTS:SRNA) and Canopy Growth Corp (TSE:WEED).
Hemp based Hemp is one of the most discussed about, yet misunderstood parts of the cannabis market. As per a report by Brightfield Group, hemp-derived cannabidiol is estimated to be a billion-dollar industry in merely three years. The data firm projects that hemp Cannabidiol sales had already touched $170 million in 2016 and a 55% CAGR over the imminent five years will lead the market to surpass the billion-dollar mark. The industry is growing because a variety of Cannabidiol concentrates are utilized to manufacture numerous products including topical ointments, edibles and even treatments for medicinal conditions.
Hemp is a global leader in the segment of industrial hemp with the leading industrial hemp processing facility based in the western hemisphere. It reported that it has obtained all brand new, advanced components of the Hemp post processing equipment to conclude the firm’s hemp oil extraction infrastructure. The latest equipment inclusions to the firm’s extraction activity will be assembled in the imminent days.
David Schmitt, the COO of Hemp, expressed that they selected the most cutting edge, advanced processing equipment on the industry, from Across International, to ensure their Cannabidiol extracts lead the market in consistency and quality, enabling them to bring unique bulk Hemp offerings to market. They have also associated with Across International to exhibit this advanced equipment at their Hemp University educational symposiums in the imminent year.
This equipment enables them to ‘winterize’ the raw Cannabidiol crude oil. After the Cannabidiol crude oil is winterized, they can perform the leftover post processing so that they can make a portfolio of products, including but not confined to cartridges and tinctures to put it in vape pens. Schmitt said that their options are infinite with this equipment. The COO of Hemp had expressed his views during the official release of its NuAxon Tech CO2 Supercritical Extractor.