Arcadia Specialty Genomics, a hemp-focused operating unit of crop innovation company Arcadia Biosciences Inc RKDA, announced this week plans for a new sun-grown hemp cultivation and agronomic research facility in Imperial County, California.
The company has received a license to produce hemp seeds and cultivate hemp. Management plans to generate its proprietary seed lines and flower for cannabidiol (CBD) oil extraction.
With this announcement, Arcadia is expanding its hemp research and cultivation operations to a second state. In April, the company opened its first sun-grown facility in Hawaii, capitalizing on the islands’ unique climate and geographic advantages.
Last month, Arcadia appointed Matthew Plavan as CEO and member of the board. Plavan is responsible for spearheading the company’s hemp ventures, with a focus on applying non-GM breeding techniques to develop ore resilient, productive and genetically superior hemp seed, flower and extract for the commercial market.
"The U.S. hemp market continues to grow exponentially, yet there is a real lack of investment in –and development of—genetically superior hemp," Plavan told Benzinga. "There is tremendous opportunity in the market, and one Arcadia Biosciences is uniquely positioned to serve, with our deep expertise in plant genetics."
Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.
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