Business
Arcadia Biosciences Advances Hemp Operations with Archipelago Ventures
DAVIS, Calif., Oct. 15, 2019 /PRNewswire/ -- Arcadia Biosciences, Inc. (Nasdaq: RKDA), a leader in science-based approaches to enhancing the quality and
About this update from Arcadia Biosciences, Inc.
[{"type":"text","content":"DAVIS, Calif., Oct. 15, 2019 /PRNewswire/ -- Arcadia Biosciences, Inc. (Nasdaq: RKDA), a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, today issued an update on its recently formed joint venture with Legacy Ventures Hawaii, Archipelago™ Ventures. The joint venture has:\n\n \nExpanded its cultivation footprint on Hawaii by 3x, from 10 to 30 acres, through partnerships with two new license holders. Archipelago is seeding the new acreage this month and expects to employ both permanent and seasonal staffers locally to execute the research plan involving crop management and harvest of several new varieties. Introduced a new autoflowering hemp varietal to Hawaii's pilot program to support year-round growth cycles unimpeded by the agronomic constraints of day length. Begun the build of large-scale mobile extraction and processing equipment to produce tetrahydrocannabinol (THC)-free, sun-grown hemp isolate or distillate. Established in August 2019, Archipelago Ventures joins Arcadia's extensive genetic expertise and resources with Legacy's proven experience in extraction and sales – and leverages Arcadia's existing licensed cultivation facility in Hawaii. The result is one vertically integrated supply chain, from seed to sale, enabling Archipelago to deliver high quality hemp extract. Former Gold Glove and World Champion Major League Baseball player Shane Victorino is a principal in the company, along with other native islanders committed to building Hawaii's capacity to supply branded health and wellness goods.\n\"The introduction of hemp cultivation in Hawaii is already transforming the lives of farmers and local communities, creating new professional and economic avenues for islanders' and stimulating our economy,\" said Victorino. \"We're excited to expand our operations and capabilities so quickly after forming Archipelago Ventures, making progress on both the cultivation and extraction fronts.\"\nWith an expanded 30-acre cultivation footprint in Hawaii, Archipelago Ventures will increase its biomass production and widen its scientific testing to examine the effects of different agricultural variables within one microclimate, such as soil type and elevation. This will also allow the company to further develop and test highly specialized, resilient and productive pro...