The facility is fully operational and is equipped for light deprivation to force plants to flower, which will allow it to produce up to four crops per year.
Over 100,000 hemp seedlings have already been planted with more being planted everyday till the end of this month. The facility is projected to yield over 100,000 plants this first summer crop, with an approximate yield of 200-400 grams per plant. Currently, in Europe, hemp bud sells for €45 to €$450 per kg based on the quality of the seed stock and strain.
Clifford J. Perry, Freedom Leaf co-founder and CEO, explained: "With this acquisition, Freedom Leaf intends to become the largest indoor hemp producer in Europe, where there is a booming market for CBD products. We expect to have the facility in full production by early 2019. It will replace our much smaller operation near Elche, as we have dissolved our previous arrangement with Green Market Europe by mutual agreement."
Perry added, "We currently have orders in excess of 3,000 kilos of European-Certified (low THC.02%), industrial hemp for flower and full spectrum oil extraction with projected sales of close to $6,000,000 in November of 2018. When in full operation in 2019, with state of the art upgrades, we anticipate this facility will produce over 50,000 kilos of high-grade industrial hemp per year. When recreational cannabis is legalized, it will be easy for us to convert our production to meet that demand."
The facility was formerly the largest poinsettia nursery in Europe with advanced technologies, such as:
- triple galvanized steel girder erection, polished concrete floors, fully EU compliant electrical, hydraulic heating and ventilation integrated control center systems;
- sliding bench hydroponic flood tables that maximize plant density, accelerate crop turnover and ultimately result in increased yield per square foot and economic efficiencies (costs per gram);
- transparent ceiling lenses that ensure optimal light penetration, shadow reduction and diffusion to support plant growth and ultimately reduce electrical consumption;
- formulated custom nutrient delivery systems optimized for specific strain growing in the facility at any time. With our water redundancy supply (four independent water supplies) the irrigation system reduces waste and supports plant health;
- tried and true HVAC system ensuring optimized climate conditions;
- precipitation collection for reuse within the facility and irrigation processes. and
- low-carbon footprint design.
Freedom Leaf co-founder Richard Cowan noted: "Europe is also moving rapidly toward the recognition of the medical value of full spectrum (high THC) medical cannabis (marijuana). Last week, the Parliament of the Valencian ‘Province/State' voted overwhelmingly to create a parliamentary commission to study how to legalize the cultivation and use of high-THC medical marijuana. This proposal will put pressure on the new national government in Madrid to take a more progressive stance on cannabis legalization. The European potential market for recreational cannabis is estimated to be larger than the U.S. market."
For more information:
Freedom Leaf