SAN DIEGO – Khrysos Industries, Inc. a wholly owned subsidiary of Youngevity International, Inc. (NASDAQ: YGYI), a multi-channel lifestyle company operating in three distinct business segments including a commercial coffee enterprise and its newly acquired commercial hemp enterprise announced today that its tolling operation operating within its 82,000 square foot facility in Orlando, Florida has filled 42% of its available capacity generating $1.2 million of revenue for February tolling production.
Khrysos Industries tolling operation represents one revenue segment of YGYI’s hemp enterprise. The company began bringing online the state-of-the-art facility that features a 46,200 sq. ft. production area that includes 5,200 sq. ft. of class C7 sterile capable workspace and is powered via a redundant utility system for continuous operation. Khrysos also plans to bring online its finished goods production in February.
“We believe our tolling operation provides us the opportunity to accelerate revenue generation and profitability by servicing a current void present in the market,” said Dwayne Dundore PhD, President of Khrysos. “Having 3 different distillation systems has Khrysos uniquely positioned to service companies of all sizes whether the need is larger scale crude oil distillation or smaller scale distillation.”
“Our current capacity for our tolling operations, at current prices, provides us the opportunity to generated monthly revenue of approximately $3 million per month. Currently, we are seeing strong demand for tolling of crude oil and we anticipate that this will continue throughout 2020. We remain committed to our hemp enterprise and its fully vertical capabilities in ingredient production, tolling, extraction and processing equipment sales, and finished goods and packaging,” said Dave Briskie, President and CFO of YGYI, about its wholly owned subsidiary Khrysos Industries.
About Khrysos Industries, Inc.
Khrysos Industries is a leading manufacturer of commercial hemp-based CBD extraction, post processing equipment, and end-to-end processor of CBD isolate, distillate, water soluble Isolate, and water-soluble distillate. Its subsidiary, INX Laboratories provides a broad range of testing services including potency analysis for its supply partners of hemp derived CBD products. Khrysos provides hemp growers, feedstock suppliers, and CBD crude oil producers the use of equipment, intellectual capital, production consultancy, tolling services, and wholesale CBD channel sales capabilities. Khrysos Industries was acquired by Youngevity International (NASDAQ: YGYI) on February 12th, 2019.