Pittsburgh-based Hemp Synergistics LLC, a biotech and hemp manufacturing company, announced it signed a long-term lease agreement on its Leetsdale RIDC complex with the Buncher Corp. in a deal that will more than double the manufacturer’s current lab space. The company also announced its first $2 million seed funding raise.
According to Hemp Synergistics, the company’s lab space will now reach 52,000 square feet and it will retain the option to grow even further to 100,000 square feet
should demand require it. The location will allow for Hemp Synergistics to expand its extraction, production, research and development capabilities as it prepares to take on additional hemp product and as it plans the launch of two consumer product lines.
“Our rapid growth is a result of making strong connections with like-minded companies that believe in product quality, science and solutions above everything else,” Hemp Synergistics’ CEO Daniel Kohler said in a release. “We’re honored to partner with one of the world’s most reputable organic farms in order to meet consumer demand for high quality, consistent and intelligent CBD products.”
The company has seen increased developments over the past few months.
In August, the company announced it partnered with Purdue University Northwest to develop a THC rapid test tool that allows law enforcement to distinguish hemp from cannabis in minutes. The tools allows law enforcement to test a given specimen’s levels of Delta-9 THC, or the cannabinoid compound found in cannabis products associated with getting a person high. Products with 0.3% or less of Delta-9 THC are legally permitted according to federal guidelines passed as part of the 2018 farm bill which legalized hemp and hemp products nationwide.
Back in July, Hemp Synergistics launched a new hemp powder concentrate for consumer products. The powdered concentrate allows hemp manufacturers to produce cannabinoid products across different delivery formats including tablets, capsules and edibles, the company said.
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