Hemp Processor Socati Corp. Moves Headquarters to Austin
AUSTIN, Texas--(BUSINESS WIRE)--Sep 11, 2019--
Socati Corp. today announced the opening of its executive headquarters in Austin, a move to accommodate the company’s rapidly expanding team and to help sustain its recent growth in the marketplace for CBD and other hemp-derived ingredients.
Socati, re-locating from Woodburn, Ore., is a leading manufacturer of broad spectrum hemp extracts for the consumer packaged goods industries. Its Austin headquarters will grow to more than 40 employees over the coming months. The office will be at 612 Brazos St., in the heart of Downtown Austin.
Socati chose Austin to take advantage of the city’s leadership in high-growth industries, especially technology-driven startups. In an industry widely projected to undergo meteoric growth, the company needs a workforce that can truly lead, and central Texas offers the ideal mix of experience and attitude to meet those needs.
“Austin offers everything a technology-driven hemp startup could ask for,” said Socati CEO Josh Epstein. “With a smart, capable and committed workforce, a central location that provides easy access to so many of our current and potential customers, and tremendous excitement around high-growth industries, we couldn’t find a better place for our headquarters.”
The building provides Socati with two levels of office and event space. The upper level will be used for offices and meeting rooms, and the ground floor will be outfitted as an experiential space where Socati will host exclusive events featuring taste tests, demonstrations and meetings.
Socati uses proprietary chromatographic processes to create ingredients for companies in the consumer packaged goods market. The company’s broad spectrum offerings have all of the CBD and other desired compounds found in hemp, but offer levels of THC far below most commercial labs’ ability to test.
This announcement comes only weeks after the launch of a new, fully customizable product line, offering product manufacturers the ability to purchase all-natural ingredients with specific cannabinoid profiles to meet increasing consumer demand for personalized products.
Socati has raised $42 million in private capital since late 2018. The company will maintain its research and development, genetics and seed facility in Woodburn, Ore., and will continue to operate its processing facility in Missoula, Mont., which it purchased in May of 2019.
Socati is a leading processor of broad-spectrum hemp extracts. The company provides a top-quality and consistent product for a market projected to reach $22 billion by 2022. Leveraging investments in new technologies, Socati engages in large-scale manufacturing and has logistics in place to process increasing amounts of hemp biomass to meet demand. With the ability to manufacture broad-spectrum hemp extracts at scale, Socati is built to serve the needs of large, international CPG companies that are seeking high-quality raw materials. To learn more about Socati, visit www.socati.com.
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KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: COSMETICS BIOTECHNOLOGY RETAIL ALTERNATIVE MEDICINE HEALTH MANUFACTURING OTHER HEALTH GENERAL HEALTH OTHER MANUFACTURING FOOD/BEVERAGE
SOURCE: Socati Corp.
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PUB: 09/11/2019 09:00 AM/DISC: 09/11/2019 09:00 AM