Earlier this month Geoff Whaling introduced a plan to inject $500 million into the hemp industry to “unlock the value” of the hemp crop. Geoff Whaling launched the replant Hemp impact Fund, a first-to-market ESG fund that looks to focus on hemp for food and fiber and works on developing infrastructure within American hemp industries by 2030.
Geoff Whaling is the Chair of the National Hemp Association and Founder and Chief Vision Officer of replant Hemp Advisors. He announced this plan at the CWCBExpo in front of an audience explaining that he is looking to give American farmers a new type of cash crop. “We will unlock the vast potential of America’s newest commodity; a regenerative, carbon-sequestering natural resource. We will connect American agriculture with innovative technologies to create industrial inputs that can serve as renewable, sustainable replacements for our current unsustainable ones.” Mr. Whaling said in an interview.
Hemp was legalized in the United States in 2014 and this legal venture has led to many different companies and entrepreneurs moving towards the market. Mr. Whaling believes the key to successful and widespread hemp production in the states is the access to capital. “Within 18 months the rePlant Hemp fund will not only support these American entrepreneurs but will supply a range of competitive options for companies seeking to replace input materials for everyday products like paper, plastic and cement with hemp.”
RePlant Hemp will begin their endeavor in January of 2022, starting with a $25 million subscription. After this, the money will be increased and allocated based off the data collected.
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