LOS ANGELES, Feb. 21, 2019 /PRNewswire/ -- Restalk Inc., a company focused on diversifying technologies and applications for cannabis bio-waste, has entered into a Letter of Intent with Circular Systems, a social purpose company focused on transforming food crop waste into high value fiber for textiles, paper, and many other industrial applications.
Restalk and Circular Systems have come to a mutual understanding which will be actualized in the form of multiple joint venture projects to facilitate the development and scaling of Circular Systems' biomass processing technologies known under the registered trade mark, "Agraloop™". The mission of the joint venture will focus on using cannabis waste as well as other biomass feedstocks the group deems as viable inputs for the production of high-value natural fiber products. The "Agraloop-Restalk" joint venture's primary activity will be processing agricultural biomass starting with waste generated within the Americas, particularly Northern California.
Circular Systems and Agraloop have innovated new closed-loop materials technologies designed to preserve, and help regenerate precious natural resources. In 2018, they were winner of the H&M Foundation's Global Change Awards and named TIME Magazine's 10 Smartest Sustainable Products for 2018. Restalk's collection service diverts cannabis waste from regional landfills and allows licensed cultivators to buy back their waste in the form of sustainable packaging for their consumer product lines. Now, the company will have the capabilities to begin focusing on additional product lines, most notably textiles.
"Circular Systems and Restalk are strategic partners, who share a big vision. Together, in collaboration, we seek to propel the global bio-economy using cannabis as one of the key driving forces. We are thrilled to continue to work closely with the team at Circular Systems. Their deep knowledge of material sciences, processing, and production; along with their truly disruptive IP, make them the perfect partner for Restalk. We're looking forward to showcasing just how useful the cannabis plant can be," said Lucas Hildebrand, President of Restalk, Inc.
The Agraloop Bio-Refinery pilot mill will develop strategically geolocated infrastructure. Which includes mobile & regional processing equipment to provide value added bio-mass focusing on up-cycling female cannabis waste as well as other biomass feedstocks from the region, including: industrial hemp, soy straw, wheat straw, rice straw, almond shells/hulls, and wool. The initial project is being coordinated with the assistance of the University of California, as well as Fibershed, a non profit organization focused on propelling sustainable and regenerative fiber production.
"Circular Systems is honored to align strategically with Restalk. The Agraloop technology is uniquely suited to provide the required processing infrastructure for cannabis and other agricultural waste streams. We look forward to Agraloop providing regenerative impacts to economy, environment, and communities across the state of California, and beyond," said Isaac Nichelson, CEO of Circular Systems.
About Restalk, Inc.
The company has two primary channels, it's collection service provides traceability and environmental accountability while mitigating the potential for public safety concerns caused by cannabis cultivation. It's award winning product division focuses on sustainable applications for the byproducts collected.
SOURCE Restalk Inc.