SinglePoint Invests in TorusMed Inc. to Develop CBD Cell Cultures through Photobioreactors
SinglePoint Inc. (OTCQB:SING) a fully reporting company is pleased to announce its investment in TorusMed Inc. to develop CBD Cell Cultures from industrial hemp. Recently the 2018 Farm Bill was passed, opening a vast array of opportunities. SinglePoint plans to quickly acquire and invest in companies dealing directly within the now legalized industrial hemp market.
The goal of the project is to ultimately have CBD that is pharmaceutical grade and cultivated in lab settings to ensure consistency. This project has the opportunity to change the way industrial hemp and CBD are manufactured, reducing time, cost and valuable resources while increasing consistency, safety and scalability of the plant.
The specific aim is to develop the optimal protocols for the mass production of CBD from cell cultures of industrial hemp. The production of CBD from cell cultures is far more advantageous than from open-field farm cultivation of industry hemp for the following reasons: (1) independence from outside weather and seasonal climatic conditions; (2) environmentally-controlled production system in laboratory flasks and in scalable industrial photobioreactors; (3) optimal protocols for cell biomass growth and CBD production; (4) greater resource-use efficiency in terms of water, land nutrients, etc.; (5) greater convenience and efficiency in scale up of production in terms of using scalable industrial photobioreactors, among others.
The specific objectives of the study include: (1) To develop and establish cell cultures of industrial hemp both in the form of callus cells and of liquid cell suspension cultures; (2) To optimize the biomass growth of the cell suspension cultures in terms of nutrient media, light intensity, light quality and carbon dioxide (CO2) enrichment; (3) To optimize the CBD yield of the cell suspension cultures in terms of nutrient media, light intensity, light quality, and carbon dioxide (CO2) enrichment; and (4) To demonstrate the cultivation of the cell suspension cultures in scalable Photobioreactors. The specific aim for a potential Year 2 for the study is to develop the protocols for the cultivation of the cell cultures and production of CBD in industrial-scale Photobioreactors.
According to New Frontier Data, “The 2018 Farm Bill will restore industrial hemp to nationwide legal production for the first time since World War II, offering vast opportunities for the industry and investment in a market expected to triple in four years.”
With the removal of hemp from federal prohibition under the Controlled Substances Act of 1970 (CSA), the total U.S. hemp industry now looks to expand at a healthy 18.4% through a 5-year combined annual growth rate (CAGR) from 2018-2022. New Frontier Data’s Hemp Business Journal estimates that, in leading all hemp product categories, the hemp-derived CBD market will grow from a $390 million-dollar market in 2018, to a $1.3 billion market (or 3.3x) by 2022, representing a 27.2% 5-year CAGR.
Upon completion of the development, SinglePoint plans to distribute this premium CBD. Currently the company is working with producers and manufacturers to distribute industrial hemp CBD through its ecommerce site SingleSeed.com. SinglePoint plans to grow this distribution force to both retail and other channels to increase revenue and sales through the subsidiary.
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