A Subsidiary Of Arcadia Bio Received A New Hemp License In California

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.

Related Link: Former MLB All-Star Shane Victorino Talks Plans To Give Back To Hawaii Through New Cannabis Venture

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.

Posted In: Arcadia CannabisArcadia CBDArcadia HempArcadia Specialty GenomicsHempNasdaq CannabisNasdaq HempCannabisNewsMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.