Puration Inc (OTCMKTS: PURA) is about to strike a deal for its first collaboration in the Asia Pacific. This partnership could enable the company to reach its target revenue of $10 million. It is also in line with PURA’s goal to increase partnership income in 2022.
PURA detailed this goal in a recent update that highlighted its progress towards objectives in 2022. Additionally, Farmersville Hemp started in 2021 to spread awareness and market hemp products, which are more sustainable, worldwide. Farmersville Hemp gives hemp growers a brand name under which to sell and market their produce.
Contents of the update letter
The update included a letter from Brian Shibley, the CEO of PURA. In the letter, Shibley acknowledges the current uncertainty in the global market. However, he assures investors that it is only temporary. He adds that the hemp industry has high growth potential.
According to Shibley, the world consists of about 8 million people. Despite this, only 2 billion live within developed countries. Many companies are working to deliver products to the other 6 billion, indicating that the market will soon turn around. PURA could also benefit from serving the 6 billion.
PURA also believes that incorporating hemp into more industries could significantly lower carbon emissions in developing countries. This is because hemp can disrupt the lumber and textile industries.
Hemp is not only better than traditional lumber and cotton, but it is also more environmentally friendly. The plant takes more carbon than hardwood and cotton, grows faster, and utilizes water. It can also make biodegradable bioplastic. Another use for them is making supercapacitors which are better for the environment and work better than traditional batteries.
PURA’s growth strategy
There are three steps in PURA’s strategy to promote hemp. The first one is to educate businesses on incorporating hemp into their industries to make more sustainable and high-quality products.
The second step for PURA is branding. The company achieves this through its Farmersville Hemp initiative. Building partnership is another technique for the company. PURA is trying to partner with other companies to increase its hemp revenue while promoting sustainability. To further this goal, PURA is collaborating with several companies. It also owns 5% of Alkame Holdings Inc (OTCMKTS: ALKM).
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