Photo by Hemp Flax
If only more big names in the cannabis and hemp industry made such forward-thinking and beneficial moves regarding energy use and creating sustainable working environments.
The latest in eco-friendly cannabis news is Europe’s HempFlax Group B.V. proudly stating its plans to invest nearly €3 million ($3.4 million) to redevelop its Oude Pekela, Netherlands factory. The transformation will create a facility that will impressively expand production capacity while saving excess energy.
According to an email sent out to customers on Wednesday, Nov. 17, HempFlax has already said goodbye to gas-fuelled power sources, and they plan on installing 1.9MWh of solar panels by next year. The company said it’s a firm believer that it can not only double production capacity but remain entirely “energy positive.”
When HempFlax completes an investment project that began by installing a new entirely automatic packaging machine that’s already in the trial stages of operation, we should expect to hear more news about how much energy the company has saved. We should also assume to see HempFlax’s new machine fully up and running in the first half of 2022.
In the email noted above, HempFlax wrote that its factories have been producing “constantly” over the past year, and the industry is showing clear indications that “hemp is an extremely future-proof raw material.” The renowned European hemp operator also mentioned that it’s renewing its vehicle fleet and awaiting to deliver its first hydrogen-powered vehicle by the end of 2021. All of these efforts are HempFlax’s attempt to reduce its carbon footprint.
HempFlax has firmly planted itself in the hemp industry throughout Europe, and in May of this year, the company reported that 2020 revenues increased by 43% to €14.5 million ($15.8 million). The increase in revenue results from the rise in sales of CBD and a 1,089% increase in construction materials sales.
In more impressive data, EBITDA grew 63% to €1.8 million ($2 million) in 2020, and before-tax revenue increased by 616% to €659,000 ($744,274) from €92,000 ($103,904) in 2019.
HempFlax was happy to share in the email noted above that 2020 saw revenue growth in every category across the board of its diverse product portfolio. These categories include CBD, high-quality fibers for hemp-based plastics, construction materials, horticulture, and animal bedding, and genetics and farming.
Now with HempFlax’s new “energy positive” practices on the horizon, we should expect to hear more announcements regarding revenue growth and energy reduction sometime next year.
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