PARIS, Ky. — ColorPoint KY, has transitioned to become a hemp only company and has merged operations with AgTech Scientific of Paris, KY. The fully vertically integrated hemp company will immediately become a leader of outdoor and indoor grown quality hemp products. The operations have been granted both a Hemp Grower License and Hemp Processor License from the Kentucky Department of Agriculture.
The companies met in 2017 and later formed a business relationship to produce clones beginning with the 2019 outdoor farming season. Additionally, a successful beta test of an indoor hemp grow in late 2018 led to a supply agreement between the companies that included agricultural processing, clones and an indoor grow during the summer season.
ColorPoint had been researching alternative crops for numerous years and after careful consideration approached AgTech Scientific in early 2019 to accelerate their relationship. The parties agreed that it was best to move forward with a merger of operations and to convert the entire greenhouse to premium hemp products.
Indoor Greenhouse & Facility Highlights:
1,837,847 sq. ft. Greenhouse including 145,182 sq. ft. of production and shipping facilities
Modern, hi-tech greenhouse with full concrete floors, ebb and flood floor system and operable roof
Agricultural processing center, drying, stripping and milling of over 100,000 plants per day
Experienced management team with 113 fulltime employees and over 340 workers at peak season
Fully computerized root to shelf tracking
Successful test of indoor grown hemp completed
Able to produce over 200,000 cuttings per day
Production and indoor grown hemp 24/7 – 365 days per year
More than 100 tractor trailers with an experienced logistics team
Outdoor Farming
Projection of 5,000,000+ clones to be planted in 2019 on more than 1,500 acres in Central KY. Farms average less than 15 miles from the indoor greenhouse facility
CBD crop with high yields based on past performance
Less risk, more opportunity for farmers with guaranteed payouts throughout the season
Detailed SOP program to ensure compliance and consistency with farm coordinators and managers in the field
Fleet of more than 100 trailers (many are refrigerated) to ensure timely logistics during the planting and harvest season
All 2018 Farmers are shareholders of the company
Extraction & Manufacturing Facility
Ground-breaking was October 2018, projected opening of August 2019
50,000 sq. feet, built to GMP standards
Located in the Bourbon County Business Park on 10 acres of industrial land, 15 minutes from the indoor greenhouse facility
Ethanol based extraction, original biomass input of 2000 lbs/day scaling up to 14,000 lbs/day in Q2/2020
Engineered and developed by a team of experienced industry professionals
Continuous production 24/7 – 365 days a year
Funded in part with community support by local and state grants
ColorPoint Co-President, Art VanWingerden stated, “Today is a great day for the company, our employees and our families. The strength of our unique approach and partnership with local farmers, combined with our indoor grow capabilities and our vertical extraction integration, places ColorPoint and AgTech in position to take a leadership role in the emerging U.S. hemp industry.”
AgTech Scientific Director of Communications Jessica Scott added, “The announcement today is the big next step for the hemp industry. AgTech and ColorPoint are committed to their people, appreciated by everyone, especially farmers. I have been in the industry for numerous years and I am more excited about the future today than ever before.”
About ColorPoint
ColorPoint, established in 2001, has grown to become the sixth largest commercial greenhouse operation in the United States producing over 80 Million high quality bedding plants for big box retailers in the Midwest. ColorPoint’s core strengths are producing high quality plants and tracking production and plant performance from root to shelf. These attributes, combined with an experienced growing team, logistic strengths and a premier industry management group have created an unparalleled ability to deliver superior products. ColorPoint, as of May 2019, has fully committed all operations to the production of quality indoor and outdoor hemp derived products.
About AgTech Scientific
The company was founded in 2015 by a small group of Canadians as a pet food research project. After an extensive search which concluded in early 2017, Paris, Kentucky was chosen as the company’s new home base due to local and state leadership within the hemp industry. AgTech, partnering with local farmers, grew over 80 acres of hemp in 2018 during the successful season. The company broke ground on a 50,000 square foot GMP standard manufacturing and extraction facility in October 2018 with a projected opening of August 2019. AgTech has partnered with ColorPoint, (the 6th largest commercial U.S. greenhouse) on numerous projects since 2018 and has merged operations with ColorPoint as of May 2019. The company has farm agreements in 2019 for 1500 prime acres and will grow 5,000,000+ plants. The 1,800,000 square foot next generation indoor hemp grow is expected to commence in June 2019 with continuous production, year after year.
