THE German city Dresden may be set to host Europe’s largest hemp farm equating to the size of 3,500 soccer pitches.
The German HempCo’s plans are centred around 1,235 acres of prime agricultural land with an option for expansion into a further 4,900 acres.
Canadian firm Eurolife Brands says it has entered into a ‘Binding Letter of Intent for the right to purchase 20% of a, to-be-formed, German corporate entity’ – German HempCo.
Eurolife goes on to say that in addition to standard CBD extraction it is looking into the potential for ‘high value end-points such as smokable hemp flower, eco-friendly sustainable paper and plastic packaging alternatives, fiber and textiles, and animal feed.
As well as the potential for growing, ‘higher value end product such as hemp strains containing elevated ratios of CBG (Cannabigerol)’.
In a recent market announcement it says the new venture already possess existing assets which include, the aforementioned land and options, as well as;
-Around 110,000 kilograms of recently harvested hemp biomass
-Existing off-take agreements and purchase orders
-Specialised machinery capable of harvesting 123 acres a day
-Specialised cleaning machinery and drying machinery
-Drying rooms and warehouse space
Shawn Moniz, CEO of EuroLife said that the development would be ‘marquee moment for EuroLife’.
EuroLife says that as the European market grows ‘organizations equipped with low cost production combined with tactical downstream capability will prevail’.