December 20, 2019
No more hot hemp! In a recent press release, Front Range Biosciences announced its agreement with Spanish company Hemp Trading to distribute the first THC-free and high-CBG (18%) content hemp variety known as Panakeia.
This new variety was developed in a collaboration between Hemp Trading and the Spanish university Universidad Politécnica de Valencia. Since Panakeia provides 0.00% THC content, farmers who grow this variety will no longer need to worry whether or not their hemp crop complies with the legal THC limit of 0.3%. Read an excerpt from the announcement:
“‘The American market is key to the commercialization of Panakeia as hemp is grown here on a large scale, and the agreement with these three companies represents a big opportunity for launching Panakeia in the USA,’ says Ernesto Llosá, CEO of Hemp Trading. ‘The crop forecasts for next year are more than promising. It is expected that production will triple from 80,000 acres in 2019 to around 250,000 acres in 2020.’
“‘Introducing a cutting-edge plant variety like Panakeia will have a seismic ripple effect in the hemp farming industry in the US,’ said Dr. Jonathan Vaught, Co-founder and CEO of Front Range Biosciences. ‘Our company's mission from the beginning has been to provide sustainable and modern solutions to mainstream agricultural practices, and I believe the Panakeia hemp variety will not only encourage more streamlined farming methods, but also introduce more Americans to even more of the potential wellness properties of the hemp plant.’”
Read the full press release here.
We look forward to seeing the results of how Panakeia can benefit farmers, consumers, and the whole industry! See a selection of coverage from the press release below:
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