AP NEWS
Click to copy
Press release content from BusinessWire. The AP news staff was not involved in its creation.
Click to copy
PRESS RELEASE: Paid content from BusinessWire
Press release content from BusinessWire. The AP news staff was not involved in its creation.

GenCanna Announces First Patentable Non-GMO Hemp Genetics with 0.0% THC

January 28, 2019

WINCHESTER, Ky.--(BUSINESS WIRE)--Jan 28, 2019--GenCanna Global Inc. (“GenCanna” or the “Company”) announces that the company has developed non-GMO hemp genetics with 0.0% THC through research developed at the University of Kentucky.

“This is a remarkable development for the hemp industry and for Kentucky,” said Agriculture Commissioner Ryan Quarles. Commissioner Quarles continued, “When I became Agriculture Commissioner, I promised to make Kentucky the epicenter of hemp research and production in the United States. Announcements like these prove Kentucky is well-positioned to lead the nation in this arena. I congratulate GenCanna on their success, and I look forward to watching them continue to grow and invest in our state and our people.”

GenCanna TM is a vertically-integrated, agriculture-technology company specializing in the production of hemp rich in CBD. The Company was an inaugural member of the Kentucky Department of Agriculture’s Industrial Hemp pilot program and was the first hemp pilot program participant dedicated specifically and exclusively to researching and commercializing hemp-derived CBD in the state. This announcement serves as a significant development in the burgeoning hemp industry, which has recently been uplifted with the passage of the 2018 Federal Farm Bill and the removal of hemp from the Controlled Substances Act.

The industry’s economic growth has been driven by CBD production, which makes this announcement extremely meaningful for those interested in entering the space. Many have been excited by the potential upside of hemp but have been concerned about maintaining regulatory compliance. Producing proprietary, patentable genetics at 0.0% THC promises farmers, processors and other potential industry partners a path toward industry participation. Managing variable expressions of THC across a broad range of growing climates and conditions is a concern throughout the industry, and genetics with 0.0% THC are the only full proof way of mitigating that concern.

“The growth of our industry necessitates innovations that scale,” said Steve Bevan, President of GenCanna and Chairman of the U.S. Hemp Roundtable. Mr. Bevan continued, “Our OC:00 TM genetics are virtually free of THC and will give both industry participants and industry onlookers confidence-in-compliance as they work to deliver new solutions from the hemp plant. We built GenCanna to develop a scalable supply of CBD products that meet the strictest quality and safety standards, and our work with the University of Kentucky is another step towards us fulfilling that mission.”

The development of marketable 0.0% THC genetics demonstrates GenCanna’s unparalleled commitment to industry stewardship. With 0.0% THC the plant’s genetic material can be maximized for production of minor cannabinoids. This development also presents the evolving marketplace unique access to hemp-derived CBD that is virtually free of THC, and not reliant on downstream processing and extraction processes. Farmers in GenCanna’s Certified Farming NetworkTM will be the first to have access to Outdoor Cannabis (OC) TM genetics.

“We are incredibly excited and humbled by partnerships in research and development like this that have meaningful commercial impact and lead to a sustainment of our core goals and missions,” remarked Chris Stubbs, GenCanna’s Chief Science Officer. He added, “Partnerships like this empower farmers, processors and consumers. These types of opportunities substantiate the economic impact that the reignition of the hemp industry has at a local, state, domestic, and international level. Our continued R&D efforts, internally and with partners like the University of Kentucky, will be crucial in unlocking the true potential of the knowledge that’s been lost due to the previous prohibition of hemp. Combining innovative techniques in molecular biology, agronomics, quantitative analysis, and modern processing opportunities will prove to bring our industry’s efforts full circle. Collaboration facilitates rapid phase change.”

The Company’s partnership with the University of Kentucky is led by Global Development Director Henri Marmillion and University of Kentucky Professor David Hildebrand. Their shared research extends beyond this announcement and includes multiple areas of focus.

“The support from GenCanna for industrial hemp research at the University of Kentucky is much appreciated and is facilitating development of industrial hemp as a viable crop for Kentucky farmers. The overall goal of our industrial hemp research is to improve the quantity and efficiency of CBD production, as well as production of other valuable non-THC cannabinoids in hemp varieties optimized for Kentucky,” remarked Professor David Hildebrand. He continued, “This involves the genetic selection of hemp varieties with higher CBD levels and nearly zero THC levels. We are also developing more rapid, efficient, economical and accurate methods for measuring cannabinoid levels from large numbers of hemp plants including intact plants growing in fields. The new hemp varieties being developed will be characterized, using methods including molecular genetic fingerprinting, as well as the establishment of a system for certified seed production of the improved hemp varieties.”

GenCanna is sponsoring fellowships for University of Kentucky Masters and Ph.D. students focusing on genetic improvement of hemp for enhanced CBD levels, metabolic engineering to increase production of minor cannabinoids, remote cannabinoid analysis and variety development and characterization for certified seed production. Derrick Davis, whose family farms in Harrodsburg, Kentucky, has been selected as the Masters candidate focusing on variety development and characterization for certified seed production. Jia Tan, from Minnesota, has been selected as the Ph.D. candidate focused on genetic improvement of hemp for enhanced cannabinoid levels.

In the last few months, GenCanna has announced significant expansion plans including the buildout of a $40 million facility in Graves County that will bring more than 80 new jobs to the region. The company has also announced that it will be aligning cultivation operations with its strongest farming competitor and partner at the Hemp Research Campus, Atalo Holdings. GenCanna and Atalo will each have access to 10,000 acres of farmland for the 2019 cultivation season. These developments give the Company an array of strategic growth opportunities available to them and underscores its position as the leading best-in-class American hemp producer; and perhaps the only truly vertically-integrated manufacturer in the industry.

“We are entering our sixth growing season in Kentucky, and I have never been more certain that Kentucky is the right place to build the world’s leading hemp company,” said Matty Mangone-Miranda, Chief Executive Officer of GenCanna. He added, “Independence is an essential ingredient of Kentucky’s character. This is part of what makes Kentucky the optimal training ground to hone the entrepreneurial acumen that lives within all of us at GenCanna. That entrepreneurial acumen is sharpened by great partners like the University of Kentucky and is made possible by the best political leadership in the world. Leader McConnell, Congressman Comer and Commissioner Quarles serve as the gold standard of public service. Their leadership has been essential to our success. We are confident that we are going to make Kentucky the ‘Silicon Valley of Hemp’ and the first, and best state to deliver on the tremendous potential value of the hemp plant.”

Photos and video will be available via Dropbox shortly following the event. Please contact Jordan Shellhaas ( jordan@runswitchpr.com ) for a link.

GenCanna extends an open invite for companies throughout the industry who would like to discuss collaboration and partnership opportunities. Please direct any inquiries to .

ABOUT GENCANNA GLOBAL, INC.

GenCanna is a vertically-integrated agriculture-technology company specializing in the production of hemp rich in CBD. Founded in 2014, as an inaugural member of the Kentucky Department of Agriculture’s Industrial Hemp Pilot Program, the company is a longstanding industry pioneer. GenCanna works closely with state universities, consumer protection agencies and other regulatory bodies driving key industry language and legislation. Consistent extraction methods and innovative processing technologies ensure GenCanna production processes exceed all regulatory standards for FDA registered and inspected food production facilities (learn more at https://gencanna.com/compliance/ ). The GenCanna Production Platform assures standardized, repeatable quality from farm to finished product.

GenCanna is a founding board member of the U.S. Hemp Roundtable. Launched in early 2017, the U.S. Hemp Roundtable is a coalition of over 70 hemp companies – representing every link of the product chain, from seed to sale – and all of the industry’s major national grassroots organizations. The U.S. Hemp Roundtable has secured the passage of bi-partisan legislation in the U.S. Congress that established hemp federally as an agricultural commodity, permanently removing it from regulation as a controlled substance.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190128005464/en/

CONTACT: GenCanna

Alex Green

media@gencanna.com

859-577-8727

KEYWORD: UNITED STATES NORTH AMERICA KENTUCKY

INDUSTRY KEYWORD: NATURAL RESOURCES AGRICULTURE RESEARCH SCIENCE

SOURCE: GenCanna

Copyright Business Wire 2019.

PUB: 01/28/2019 11:05 AM/DISC: 01/28/2019 11:05 AM

http://www.businesswire.com/news/home/20190128005464/en

All contents © copyright 2019 The Associated Press. All rights reserved.