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Industrial Hemp Receives Injection Of Capital

Cozmo

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Low Carbon Accelerator Limited is an investment company set up to encourage and facilitate investment in a range of fast growing low carbon businesses. The company has announced that it has made an investment of £1,088,000 in Hemcore Limited for a 30% equity stake. The investment was part of an overall £2.6 million funding round led by LCA.

Hemcore is the UK's largest grower and processor of industrial hemp, with around 1,000 hectares being farmed under contract. No agro-chemicals are used in its production. Hemp was once grown widely across the UK to produce fibre for sails and rigging. Hemcore produce low carbon raw materials for a wide range of industries, including green building.

The investment from Low Carbon Accelerator and the other investors will enable Hemcore to increase its range of products, in particular the recently launched natural fibre insulation product being sold under the 'Breathe' brand name.

Hemcore is also excited by the potential market opportunity for hemp fibre in the construction industry. The fibre is mixed with a special lime, Tradical HB®, to make Hemcrete®, used to improve the thermal efficiency of buildings. Hemp absorbs a significant amount of CO2 from the atmosphere as it grows which is then locked up in the structure for the life of the building, resulting in these having far lower construction carbon footprints than buildings built using cement.

Hemcore estimates that approximately 30 - 45 tonnes of carbon dioxide could be saved in the walls of a typical family house if 'Hemcrete®' is used in place of conventional materials. Options are also being explored to develop a light weight particle board made from the fibre which could be used as loft board, work tops and furniture.

Mike Duckett, Managing Director of Hemcore said: "We welcome this injection of capital to boost our production. The demand for products derived from the versatile hemp plant is growing rapidly. Without the support of LCA this new exciting market could not be exploited to its full potential. We have always believed that British agriculture should diversify into non-food and sustainable alternative crops. Our business model shows how we can benefit British agriculture and British industry at the same time, while maintaining a low-carbon edge in both."


News Mod: CoZmO - www.420Magazine.com
Source: Green Building Press (UK)
Contact: Green Building Press - About Us
Copyright: 2007 Green Building Press
Website: Green Building News
 
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