1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) announced Monday that it had increased throughput capacity at its Las Vegas hemp processing laboratory as work progresses to open the facility by the end of the year.
The hemp laboratory’s increased capacity is now an estimated 68,000 kilograms of hemp biomass per month, producing around 5,000 kilograms of oils or 4,500 kilograms of CBD isolate.
The cannabis investment company is aiming to launch one of Nevada’s largest hemp extraction facilities with a custom-built ethanol extraction system that provides the ability to isolate CBD, THC and several other cannabinoids, including oils.
READ: 1933 Industries launches Canna Fused products in Nevada at NuWu 420 celebration event in Las Vegas
According to 1933 president CEO Brayden Sutton, the company has invested heavily in the design of its customized equipment to provide maximum capacity and efficiency. “We believe that the time and capital invested in the R&D of the facility will provide much larger returns for shareholders in the future,” he said in a statement.
The hemp lab will also have the flexibility to isolate cannabinoids that are emerging in popularity and uses such as CBN and CBG at commercial scale volumes, said US COO Chris Rebentisch. “Our intention for this new vertical is to utilize all isolates in the manufacturing of our own proprietary consumer branded goods, securing the supply of raw materials, increasing our margins and benefiting from a recurring revenue stream from the sale to other manufacturers,” he said in a statement.
Headquartered in Vancouver, 1933 is a cannabis company with operations in the United States and Canada. Operating via three subsidiaries, 1933 owns licensed medical and recreational cannabis cultivation and production assets, hemp-based, CBD infused products, CBD extraction services and a specialized cannabis advisory firm.
Shares of 1933 Industries were up 2% at C$0.48 in Canada and yp over 3% at US$0.36 in the US on Monday aftternoon.
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