DENVER, Aug. 5, 2019 /PRNewswire/ -- PRESS RELEASE -- Thar Process has announced that it has entered into a Joint Venture (JV) agreement with PSC Group, a Colorado-based seed-to-product company, to develop a five-ton-per-day, Certified cGMP, USDA Organic CO2 extraction/purification facility in Pueblo, Colo. The JV leverages the strength of Thar's 29 years in CO2 extraction and chromatography/purification with PSC's expertise and proven experience as a hemp grower, certified seed producer and CBD-infused product developer.
The new alliance, Thar Extractions Colorado, has already begun procuring equipment for the toll/contract processing facility. It also brings large scale processing and extraction capabilities within a five-hour proximity to the many hemp farms in Colorado and Kansas. Pueblo-based GM Kevin Howe expects to open the facility to processing in November.
Beginning operations in three months, the Thar-PSC alliance positions the companies to provide sustainable, solvent-free extracts in U.S. With more than five tons per day of biomass extraction capacity, the facility could generate up to 750 kg per day of 'full spectrum' winterized crude using Thar's patent-pending WinterFlowtm technology.
"Through our partnership with PSC, we have access to Western U.S. hemp growers to keep our sustainable processing facility and its SuperFasttm 2x1650L and Isolator SFCtm 60 systems running around the clock," said Todd Palcic, president of Thar Process.
Added Nir Pelter, CEO of PSC, "This hemp processing arrangement further demonstrates the upside potential of seed-to-sale industrial hemp farming. The JV provides PSC with the ability to generate a higher value from its harvest, notably from CBD-rich products such as creams, tinctures, pet foods, etc."
Cannabis research firm Brightfield Group estimates that the U.S. market for hemp-derived CBD will hit USD $22 billion in 2022.