Industrial Hemp Production in US and Canada Offers Significant Market Opportunity for AgraBurstPRO™
SIOUX FALLS, SOUTH DAKOTA, UNITED STATES, November 8, 2018 /EINPresswire.com/ — GroGenesis, Inc. (GROG), a global pioneer in sustainable agriculture technology, announced today that the company has entered the industrial hemp cultivation market in the US and Canada with its broad spectrum, organic adjuvant, AgraBurstPRO™. Based on positive feedback from hemp growers, the company has identified industrial hemp as a significant new market for AgraBurstPRO™, an organic input which optimizes the uptake of any agricultural input applied to any plant. After conducting due diligence on the hemp industry and the prospects for the legalization of industrial hemp production in the U.S., the Company field tested AgraBurstPRO™ with hemp producers who were impressed by the positive results exhibited in the health of their plants, growth rate improvement and plant size enhancement.
Mr. Richard Kamolvathin, President and CEO of GroGenesis, said, “After completing numerous field trials with our partners to validate the effectiveness of AgraBurstPRO and its more efficient delivery of all applied inputs on any plant, including hemp, it became apparent that the industrial hemp industry in Canada, where hemp farming is already legal, and the probability that hemp cultivation will become legal in the U.S. soon, presents a lucrative market for GroGenesis. Recent control test reports from cultivators have strongly encouraged us to proactively target the hemp market — a lucrative market to tap with the multitude of industrial uses, rapid growth rate to harvest and the yet-to-be-realized potential of CBD oil.”
Kamolvathin continued, “As an organic science company focused on the reduction of toxic chemical inputs into the environment, we believe it is important to identify and add new market opportunities in other viable market sectors that align with our core values and as we continue to commercialize our flagship product, AgraBurstPRO for agriculture. Our strategy is to apply the same business model that we have used in the past by developing business relationships with distribution partners that are in a specific market sector and provide the technical, manufacturing and marketing assistance, in addition to specific protocols, for our distributors to be successful under their own private level brand.”
Hemp, one of the fastest growing plants with a sixty-day growth cycle in many states, is cultivated for fiber, oil, and seeds which are subsequently refined into numerous products including wax, biodegradable plastics, resin, textiles, pulp, paper, rope, clothing, biofuel, animal feed, paint and hemp oil. In addition, the use of CBD oil is being researched on its beneficial effects for anxiety relief, anti-seizure, pain relief, anti-acne, food ingredients (https://www.forbes.com/sites/eveturowpaul/2018/07/31/get-to-know-the-trendiest-food-ingredient-youve...) and promising potential for cancer therapy.
According to the Hemp Business Journal, the U.S. hemp industry’s sales in 2017 was $820mm, including $190mm for Hemp-Derived CBD products, $181mm for personal care products and $137mm for hemp food products. However, as legal and regulatory hurdles are removed and consumer knowledge on CBD oil develops, it is l estimated that the U.S. hemp industry will grow at a 5-year Compound Annual Growth Rate (CAGR) of over 14% (2018-2022) to a $1.9 Billion dollar market by 2022. In Canada, over 100,000 acres of hemp was under cultivation in 2017 with significant increases in production projected over the next five years.
Mr. Kamolvathin concluded, “AgraBurstPRO, as an organic input, can be an integral part in the protocols for the production of food crops, flowers and turf, in addition to cash crops such as palm oil, tobacco and hemp. With the prospect of the legalization of hemp production in the U.S, there is a significant market opportunity for the agriculture industry in both Canada and the US. Both new and veteran hemp cultivators will be establishing their farming protocols that can include AgraBurstPRO, an input that enhances drought tolerance, disease resistance and crop yields. We look forward to positively impacting the industrial hemp industry in North America and internationally.
AgraBurstPRO™ is an organic, broad spectrum adjuvant which acts as an efficient delivery system for all applied agricultural inputs. AgraBurstPRO™ facilitates the rapid and direct absorption of inputs resulting in the more efficient access of applied and available nutrients, improved drought tolerance and increased crop yields. By optimizing the plant's uptake of applied pest and weed controls and fertilizers, producers can minimize input costs. AgraBurstPRO™ improves the natural health of all plants by dramatically stimulating the nutrient and water uptake in plants. The surfactant is a plant-based extract which is organic, non-toxic, carcinogen-free, biodegradable and safe for use in all soil conditions. Its application amplifies every plant's natural capacity to absorb nutrients through its own foliage and stems while augmenting root development and soil uptake. Any agricultural input's performance is enhanced by integrating the application of AgraBurstPRO™ either separately or in an input manufacturer's original formulation–including fertilizers, herbicides and fungicides.
About GroGenesis, Inc.
GroGenesis, Inc. (www;.GroGenesis.com) is a sustainable agriculture technology services enterprise offering producers a non-toxic, all-natural, non-GMO surfactant which enhances soil and crop health. GroGenesis' flagship product, AgraBurstPRO™, is a non-toxic, concentrated agricultural input solution which enhances the ability of the plant to more efficiently use the added nutrients incorporated in fertilizers, resulting in less fertilizer required. The application of AgraBurstPRO™ can begin the process of improving the health of the soil while minimizing the use of conventional chemical agricultural inputs.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve uncertainties and risks based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. Readers are cautioned that forward-looking statements are predictions based on our current expectations about future events and are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied due to risks and uncertainties discussed under "Risk Factors" in Item 1 of our Annual Report on Form 10-K for the fiscal year ended May 31, 2017 filed with the SEC.
Source: EIN Presswire