Media Release: CropLogic Lodges Application for Industrial Hemp Licence in Oregon, USA
CropLogic Limited (ASX:CLI) (“CropLogic” or “Company”) is pleased to announce it has lodged an industrial hemp grower licence (“Licence”) application with the Oregon Department of Agriculture.
As announced 22 February 2019, CropLogic has sourced and agreed terms for the lease of a 150 acre property in the highly productive Deschutes County, Oregon, USA. If the lodged application is successful, the Licence will enable CropLogic to cultivate industrial hemp this growing season at its trial farm in Deschutes County, Oregon.
CropLogic is now in the process of working through a series of milestones for cropping of industrial hemp this season, including developing farm plans and preparations around this property of which this hemp licence application is one. The outcome of these plans will strongly favour and influence CropLogic’s final production targets for this 150 acre trial farm however similar acreage producing hemp biomass of between 180,000 lbs to 337,500 lbs (81,647 kg to 153,087 kg) has been observed. The price for hemp biomass varies between grade and variety but prices of USD$35 to USD$45 per pound (lb) were reported in CropLogic’s recent investigations into the industry.
James Cooper-Jones, CEO of CropLogic, said:
“This is one more milestone for CropLogic towards cropping industrial hemp this Oregonian growing season.”
Oregon has been a long supporter of industrial hemp and has been amongst a handful of USA states that have legalised the production of industrial hemp for some years prior to the passing of the Farm Bill in late 2018, thereby Oregon has been in the top three industrial hemp producing USA states. This means that infrastructure and knowledge around hemp production in Oregon is good when compared to other states.
CropLogic has a strong presence and regional knowledge of the Pacific Northwest (Washington State, Idaho and Oregon) with an agronomy team that has serviced this region for up to 30 years and with a market share as high as 30% in some crops. CropLogic feels its agronomy and precision agriculture team is well placed to crop industrial hemp in Oregon. CropLogic’s digital applications, namely CropLogic realTime and CropLogic aerial imagery will have direct application to optimising the yields and grade of the Company’s hemp biomass crop.
For further information please contact:
James Cooper-Jones, Chief Executive Officer
M: 0419 978 062
E: [email protected]
Rod North, Managing Director
Bourse Communications Pty Ltd
T: (03) 9510 8309, M: 0408 670 706
E: [email protected]
CropLogic is an award-winning New Zealand agricultural technology company listed on the Australian Securities Exchange (ASX). After launching its product into Washington State, USA in 2017, CropLogic is currently servicing a significant portion of horticultural growers in this region, with a market share as high as 30% in some crops. Following significant growth (2017-2018) in Washington State and Northern Oregon, in 2018, CropLogic expanded into the Idaho market. CropLogic offers growers of irrigated crops with digital agricultural technology expertise based upon scientific research and delivered with cutting edge technology – science, agronomy and technology interwoven into an expert system for decision support. For more information please visit: http://www.croplogic.com/