$5.8 Million Makes Hemp the New Wood in 2020
A recent $5.8 Million investment in a Kentucky factory will produce Hemp Wood. Hemp Wood is 20 % hardier than Oak, and has a 100 times faster growth rate. There are over 25,000 uses of hemp, however Hemp Wood may be a new phenomenon for many of us. To meet current demand, wood industries are not sustainable, especially hard woods such as oak. Hemp, on the other hand, is beyond sustainable.
Industrial hemp can grow in as little as 6 months to produce wood that is 20 percent stronger than Oak. Fibonacci LLC is taking advantage of this with their unique Hemp Wood process, combining hemp fibers with a glue made from soy.
This strange combination creates a final product that looks and feels like oak. However, where an oak tree takes 60 years to mature, hemp takes only 6 months. The world needs sustainable alternatives, and hemp is proving to be an industry leader.
More About the Process…
The combination of hemp fiber and soy glue create hemp wood. Before hemp became legal, the company owner, Greg Wilson, was an expert in the bamboo flooring industry.
Using technology popularized by China’s bamboo industry, in combination with SmartOak (one of Wilson’s other companies), Hemp Wood is born. SmartOak creates wood products from logs that would otherwise be ground into wood chips.
The company says that Hemp Wood will be made into a wide variety of products, including skateboards, blocks, boards, flooring and cutting boards, all at a price point far below that of Oak and other hard woods.
“This hardwood alternative opens up new possibilities within the construction and woodworking industries and emphasizes the capabilities hemp has across numerous sectors,” Kentucky Governor Matt Bevin said of the startup.
The company, headquartered in Western Kentucky, has a 11,000 sq. ft. facility and plans to begin production in Summer of 2019. Which means by the summer of 2020, we could very well see Hemp Wood as a booming industry.
Greg Wilson has contracted delivery of more than 800 tons of hemp stalks from growers across the state. This is just a small piece of the market. Kentucky is a leader in growing hemp, with more than 40,000 acres already being cultivated.
Beyond CBD, big things are coming for the Hemp Industry!