In 2019, the worldwide industrial hemp market was valued at $5 billion, which is expected to grow to $36 billion by 2026. Puration Inc. (OTCMKTS:PURA) is in talks with a potential investor to structure financial backing, which can be instrumental in speeding up PURA’s new Farmersville Hemp Brand initiative. PURA intends to build a industrial hemp brand cooperative under this name, so it is collaborating with hemp processing and cultivation partners.
As of now, PURA plans to provide financing for growing and production to its Farmersville Hemp Brand partners. It will help to establish a solid presence in the industry, and boost revenue growth too. The company is fine-tuning and expanding an investment initiative that has already worked out well. For instance, through PURA’s acquisition of a 5% equity interest in Alkame Holdings (an innovative copacker and leader in the packaging of CBD infused food and beverage products).
A major strategy of the Farmersville Hemp Brand collective marketing initiative will be to conduct focused, hands-on seminars for established companies with existing products that don’t include hemp. The purpose is to show those companies how hemp can improve their present product lines. The company broke ground on its 70-acre property in Farmersville Texas, but it won’t wait for the completion of construction to start its seminars. It will imminently get done with its hemp innovation curriculum and launch its first seminars in Q4 2021.