VANCOUVER, British Columbia, July 15, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Segra International Corp., an agriculture technology company, has announced that it has received its Industrial Hemp Grower Registration license, allowing the company to commence hemp tissue culture operations in Oregon. The company’s newly licensed, Portland-based laboratory represents Segra’s premiere entry into the U.S. hemp space. The company’s hemp operations are being developed concurrently with its Canadian cannabis strategy.
Segra’s Portland laboratory will be used for hemp cultivar preservation and the production of disease-free, true-to-type tissue culture hemp plantlets. U.S. federal law requires that tetrahydrocannabinol (THC) levels in hemp crops be below 0.3 percent. The company, along with its genetics partners, intends to offer U.S. hemp growers access to premium and exclusive high-CBD, low-THC cultivars.
“Backed by our genetics partners and world-class genomics division, we’re eager to demonstrate the value that our tissue culture technology brings to the industrial hemp space,” said Segra CEO Todd McMurray. It is anticipated that Segra’s U.S. hemp operations will commence later this year. Recent analysis conducted by BDS Analytics and Arcview Market Research estimated the U.S. CBD market to exceed $20 billion by 2024.