- U.S. sales of hemp-based CBD products to reach $22 billion by 2022
- HTC Extraction Systems recently closed $10 million bought deal private placement of units to fund expansion operations
- Company has developed a 19,000-square-foot GMP Euro compliant extraction tolling facility near Regina, Saskatchewan
- Patented technology is designed to reduce CBD waste during extraction process
HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF) is feeling positive about 2020 based on its unique “local to grower” drying-to-biomass storage capability and transportation of dried biomass to its extraction facilities. In addition, HTC’s patented Delta Purification™ technology recycles, reuses, and purifies the extraction ethanol used in the cannabidiol (CBD) extraction process, being designed to optimally manage and reduce any CBD waste losses by re-extracting all wastes the purified ethanol yields.
A hemp biomass cultivation, extraction, formulation and refining entity, HTC is a force to be reckoned with in the CBD extraction market, as U.S. sales of hemp-based CBD products are projected to reach $22 billion by 2022, up from $591 million in 2018 (http://cnw.fm/NSdf3). CBD derivatives alone are expected to generate $900 million in 2020 (http://cnw.fm/pEBb3). These include CBD-infused topicals, edibles, and vapes.
In this fast-growing market, HTC Extraction Systems is hard at work to expand operations and position itself as a major provider of CBD extraction services, having already deployed extensive investments in the acquisition of extracting, purifying and refining equipment. Recently, HTC closed a bought deal private placement with gross proceeds of $10 million (http://cnw.fm/3zuJJ) to finance 25 million units of the company. The proceeds are used to fund the company’s future growth plans.
HTC’s current and new technologies include Delta CBD Reclaiming System™, which reclaims and purifies ethanol for use in CBD biomass extraction and reduces heat to prevent damage of the CBD molecule’s chemical properties. The technology allows the CBD extracted with its help to meet human consumption requirements.
HTC’s Delta Glycol Reclaiming System™ purifies glycols for use in natural gas dehydration processes. These include mono-ethylene glycol and tri-ethylene glycol. The company’s Delta Solvent Reclaiming System reclaims and purifies ethanol-based solvents, such as formulated, mixed, and single amines, for use in post-combustion CO2 capturing processes and natural gas processing.
To further expand operations, HTC acquired California-based Kase Farma Inc., a high-quality, premium hemp goods producer who also provides white-label manufacturing for other cannabinoid suppliers. This company is widely recognized for its firm engagement to customers, community, and the environment (http://cnw.fm/83Udn).
Among HTC’s strategic initiatives are potential U.S. operations, tolling contracts, marketing and distribution agreements, project construction updates, and extraction equipment purchasing. For the 2020 hemp growing and production year, the company will sign IPGrow™ hemp biomass tolling contracts with producers and with hemp biomass providers in the United States.
Additionally, HTC completed a 19,000-square-foot facility that will house extraction and formulation processing, quality assurance testing, and product development laboratories at its Port Lajord location 17 miles southeast of Regina, Saskatchewan. The facility will be on par with the highest performance and quality standards for extraction and refining worldwide.
The company also finalized the construction of a 27,000-square-foot hemp biomass processing and storage facility, which will be used to store extraction-ready biomass. The company reports major investments in the purchase of extraction, purification, and refining equipment.
For more information, visit the company’s website at www.HTCExtraction.com
NOTE TO INVESTORS: The latest news and updates relating to HTC are available in the company’s newsroom at http://cnw.fm/HTC
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