Thar Process Announces a Joint Venture Agreement with PSC Group
DENVER, Aug. 5, 2019 /PRNewswire/ -- Thar Process announced that it has entered into a Joint Venture (JV) agreement with PSC Group - a Colorado-based Seed-to-Product company - to develop a 5-ton-per-day, Certified cGMP, USDA Organic CO2 extraction / purification facility in Pueblo, CO. The JV leverages the strength of Thar's 29 years in CO2 extraction and chromatography / purification with PSC's expertise and proven experience as a leading hemp-grower, certified seed producer and CBD-infused product developer.
The new alliance, Thar Extractions Colorado, has already begun procuring equipment for the toll / contract processing facility. It also brings large scale processing and extraction capabilities within a 5-hour proximity to the many hemp farms in CO and KS. Pueblo-based GM Kevin Howe expects to open the facility to processing in November.
Beginning operations in 3 months, the Thar-PSC alliance positions the companies to provide the highest quantity of sustainable, solvent-free extracts in U.S. With more than 5 tons per day of biomass extraction capacity, the facility could generate up to 750 kg per day of 'full spectrum' winterized crude using Thar's patent-pending WinterFlowtm technology.
"Through our partnership with PSC, we have access to Western US hemp growers to keep our sustainable processing facility and its SuperFasttm 2x1650L and Isolator SFCtm 60 systems running around the clock" said Todd Palcic, President of Thar Process.
Added Nir Pelter, CEO of PSC:
"This hemp processing arrangement further demonstrates the upside potential of seed-to-sale industrial hemp farming. The JV provides PSC with the ability to generate a higher value from its harvest - notably from CBD-rich products such as creams, tinctures, pet foods etc...
Cannabis research firm Brightfield Group estimates that the U.S. market for hemp-derived CBD will hit USD $22 billion in 2022.
About Thar Process
Based in Pittsburgh, USA and employing more than 110 people, Thar is the global leader in industrial-scale CO2 extraction/purification technology. Specifically focused on hemp and cannabis-related clients, Thar plans to introduce the first Certified Organic CBD Isolate by using SFC – a CO2 Purification technology. http://tharprocess.com
About PSC Group
PSC Group is led by hemp-growing pioneers and entrepreneurs with over 25 years of experience in agriculture & six years of experience in the hemp industry. Located on a Colorado farm with offices in New York and Israel, PSC has developed and cultivated over 120 genotypes of seeds including the CDA-approved B11 industrial hemp-strain.
CONTACT: Todd Palcic, President of Thar Process, 412-968-0200, [email protected]
SOURCE Thar Process
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