HEMPALTA’s ownership group and management team includes CEO Darren Bondar who founded and recently sold Canada’s leading nationally recognized cannabis retail brand1
The industrial hemp industry is expected to experience significant growth as consumers
and industries are looking for ecological and sustainable products2
Calgary, Alberta–(Newsfile Corp. – February 1, 2022) – Hempalta Inc. (“HEMPALTA“or the”Society“), a Canadian agricultural technology company focused on innovative hemp processing and product creation, has disclosed its name and operations after acquiring industrial hemp processing assets and a product division from Canadian Greenfield Technologies Corp. (“CGTHEMPALTA™ now processes industrial hemp and creates value-added products from its Calgary production facility.
The acquisition was led by Calgary entrepreneur Darren Bondar, who is the President and CEO of HEMPALTA. He was most recently founder, president and CEO of Inner Spirit Holdings Ltd., the public company that made Spiritleaf the leading cannabis retail brand in Canada.1 before selling the network to Sundial Growers Inc. for around C$131 million last year.
Bondar has now set its sights on the industrial hemp industry with its dynamic growth opportunities. Although hemp fiber has been used for many years to make paper, clothing, food, rope and building materials, more recently the focus has been on the extraction of cannabidiol or CBD. hemp flower. The Company is focused on the hemp fiber component of the crop and HEMPALTA’s ability to apply new technology to commercial-scale hemp processing to provide a variety of consumer products and provide processed hemp for industrial applications. The global market value of industrial hemp is expected to increase from US$4.7 billion in 2020 to US$14.6 billion in 2026.2
“I am very excited to launch these operations and bring this new brand to an industry that we believe has significant growth potential. Bringing HEMPALTA to life took great passion and a great team. We have developed a relationship solid with the folks at CGT and they have supported us every step of the way. We own and operate one of their specialized HempTrain™ processing plants, and they have joined us as shareholders in our new company,” Bondar said CGT should now focus solely on selling hemp processing units globally.
Other major HEMPALTA shareholders include Prairie Merchant Corporation, a company controlled by W. Brett Wilson; Fullbrook Thorpe Investments LLP, an independent UK-based private equity fund; and Proficio Capital Partners, LLC, through its founder and CEO Matthew Wosk. Funding was provided by Farm Credit Canada, a self-sustaining federal commercial Crown corporation.
Bondar has a talented and knowledgeable group of employees and advisors to guide HEMPALTA and shape its business strategy. The company’s leadership team includes Chris Ostafie as Vice President, who joins with extensive experience in operations, finance and sales, and Brittany McKell as Managing Director, who joins after five years with CGT. in their marketing and manufacturing groups.
The new company expects to be an industry leader in agricultural technology through its innovative hemp processing operations. It uses the state-of-the-art patented HempTrain processing plant purchased from CGT to process industrial hemp into clean, high-value fiber, green microfiber and hurd (the woody interior of the hemp stalk). These results are used to create a variety of products such as food preservation pads, pet litter, animal litter, and a natural organic soil amendment.
“We are currently making great products and we see opportunities to expand and grow the markets for these products. The way we process hemp also gives us countless opportunities to enter additional markets and expand our reach For example, processed hemp can be used to form car panels and skateboards, to reinforce seat belts and military uniforms, as a key component in beauty and personal care products, and for supplement the animals’ diet and make their bedding more comfortable,” Bondar said.
The company’s operations also contribute to sustainability efforts by using what is considered one of the most sustainable crops in the world, as hemp is a renewable, reusable and recyclable resource. The 100% natural hemp raw material used by HEMPALTA is grown in southern Alberta, home to some of the largest hemp acreages in Canada.3 HEMPALTA’s production facility efficiently converts all hemp raw materials into high-value product streams, so it functions as a near zero-waste manufacturing facility.
The Company will continue to refine its existing product lines and add new products over the coming months. Bondar and his team begin to present the new organization to farmers, suppliers, customers, partners and investors. The company plans to hold an opening celebration and customer visits to its production facility this summer.
Those interested in HEMPALTA product lines or to discuss business opportunities may visit the company’s website at www.hempalta.com or contact the company by email at [email protected] .
About HEMPALTA
Hempalta Inc. is an agricultural technology company focused on innovative hemp processing and product creation. It is one of the only commercial scale hemp processors in North America capable of manufacturing high value hemp products. HEMPALTA™ products are made from industrial hemp grown sustainably in southern Alberta and processed using a state-of-the-art HempTrain™ processing facility at our production facility located in the heart of Calgary, Alberta , Canada. The company is led by passionate industrial hemp advocates who have years of experience in operations, manufacturing, marketing, consumer packaged goods and retail. We work with progressive farmers and world-renowned researchers with unparalleled expertise. Learn more at www.hempalta.com.
HEMP FOR THE BETTER PLANET.™
1 Spiritleaf has been named the 2021 National Retail Brand of the Year by the ADCANN Cannabis Advertising Awards.
2 Market figures are provided in ResearchAndMarkets.com’s “Global Industrial Hemp Market Report and Forecast 2021 to 2026”.
3 Industrial hemp licensing statistics are available from Health Canada.
Forward-looking information
This press release contains statements and information which, to the extent that they are not historical facts, may constitute forward-looking information. Forward-looking information is generally, but not always, identified by the use of words such as “will”, “projected”, “expected” and similar words, including their negatives, or other similar expressions regarding matters that are not historical facts. This forward-looking information is based on various assumptions and factors which may prove to be incorrect. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on forward-looking information because the Company cannot guarantee that it will prove to be accurate or that any events anticipated by this forward-looking information will or will occur, or if one does, what benefits the Company will derive. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking information included in this press release speaks as of the date of this press release.
For more information
Darren Bondar, President and CEO
Email: [email protected]
Phone: 1-
www.hempalta.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112286