U.S. CBD maker GenCanna Global Inc. says it will expand its processing capacity through a strategic hookup with Specialty Oil Extractors (SOE), Darlington, South Carolina.
The announcement comes after GenCanna admitted recently that its planned new processing factory in Mayfield, Kentucky, would not open this year. A group of construction and other contractors recently filed liens against the Mayfield property owner, claiming GenCanna owes them $13 million.
South Carolina state officials said they hope the GenCanna-SOE deal will encourage more hemp farming in the state. More than 100 farmers are currently licensed through South Carolina Department of Agriculture (SCDA) to cultivate, handle, and process hemp.
GenCanna President Steve Bevan said the added processing capacity also will help with the processing of hemp from GenCanna’s home state of Kentucky, where he said some farmers have been abandoned by other CBD manufacturers.
Farmers need capacity
“We understand many farmers are struggling to find processors and buyers,” Bevan said. “Our priority is to offer a stable solution for farmers while developing and standardizing the new marketplace and its inherent volatility.”
Specialty Oil Extractors, which reopened an old facility, the Hartsville Oil Mill, is able to process up to 800,000 pounds of hemp biomass per day and can process both dried hemp flower and whole green plants, the company claims.
“Consider this our formal announcement of our Certified Farming Network hub in South Carolina,” said Matty Mangone-Miranda, GenCanna’s CEO.
GenCanna, has partnered with nearly 60 farmers across more than 7,000 acres this year in Kentucky. The company also has farming operations and partnerships in California, Oregon, Colorado, Pennsylvania, New York and Florida.
