Knoxville-founded Blühen Botanicals has received a $30 million investment and will launch its own retail brand of hemp and CBD oil products, the company announced Monday.
February 25, 2019 By: NCV Newswire -New Cannabis Ventures
SOL Global Announces Formation of International Hemp Company Heavenly Rx Initial Investments Include US$30.6M Majority Stake in Hemp Company Blühen Botanicals
It's a local company that has grown with remarkable speed, which is exactly what co-founder and CEO Joe Fox suggested would happen when the formation of the company was announced. I'm not sure he could have imagined how fast.
January 23, 2019 By: Milt Capps -Venture Nashville Connections
KNOXVILLE Entrepreneur Center (KEC) Executive Director Jim Biggs told VNC he believes local startup Blühen Botanicals LLC is but one example of increased East Tennessee entrepreneurial and grower interest…
September 10, 2018 by Scott Barker and Jesse Fox Mayshark -compassknox.com
Blühen Botanicals plans to turn an old pie factory into Tennessee's largest hemp processing plant. And yes, it's totally legal.
Knoxville developer Joe Fox plans to grow cannabis sativa in a former pie factory in North Knoxville, but don't say he's growing pot. He wants to grow jobs in a resurgent part of the city by restoring hemp to its former prominence as an important commercial crop.
East Tennessee could become a major presence in a rapidly growing market.
As momentum has spread nationally to legalize medical marijuana and, in some cases recreational marijuana, distinctions have also begun to be recognized between marijuana and hemp. Banned when marijuana became illegal, many states are now acknowledging that hemp has numerous potential uses, including the extraction of CBD (cannabidiol) for medicinal benefits. The industry is expected to surpass $2 billion by 2020.
Accustomed to moving at a thousand miles an hour, Blühen Botanicals' Joe Fox—known in his family as "Go-go Joe"—has an intense work ethic that is well-suited to Tennessee's rapidly-evolving hemp industry. "This market is evolving lightning-fast and if you don't move quickly you will get left behind," Fox says.
Blühen Botanicals, a new hemp processing company, announced plans today to open a hemp processing facility by the end of 2018 in Knoxville, Tenn. The company's founders aim to make Blühen Botanicals the largest hemp biomass processing and extraction facility in Tennessee and one of the largest in the southeastern United States.
The First Annual Southern Hemp Expo to Feature Exhibit Hall, Networking Opportunities, and Presentations and Workshops by Pioneers, Innovators, Entrepreneurs and Activists in the Rapidly Expanding Hemp Industry at The Fairgrounds Nashville, Sept. 28-29, 2018
New Hemp CBD Processing Company Set To Open in Knoxville
KNOXVILLE, Tenn. – August 29, 2018 – Blühen Botanicals, a new hemp processing company, announced plans today to open a hemp processing facility by the end of 2018 in Knoxville, Tenn. The company's founders aim to make Blühen Botanicals the largest hemp biomass processing and extraction facility in Tennessee and one of the largest in the southeastern United States.
Cannabinoids such as CBD are being increasingly recognized for multiple wellness properties across the U.S., and earlier this year, the U.S. Food and Drug Administration approved the first CBD-based medicine for treatment of seizures stemming from two rare forms of epilepsy.
The facility will initially operate as a processor of hemp grown by local farmers. The Knoxville-based hemp-processor will transform the legally grown hemp plant into wholesale CBD oil and other applications, which will then be sold to industry retailers and distributors. Commercial hemp production was made legal in Tennessee following the passage of House Bill No. 1164 in 2017.
"Blühen Botanicals is 'where science meets hemp'," according to Joe Fox, one of the owners of the new brand. "The hemp industry is expected to grow to $2.1 billion by 2020, and we have assembled a team that is experienced and prepared to take on the market. There are more than 25,000 uses for the hemp plant and with CBD poised to be one of the largest sectors of the industry, Blühen Botanicals will be positioned at the center of the industry supply chain."
Blühen Botanicals will have the capacity to process 2,000 pounds of hemp biomass per day with the potential to rapidly scale its output beyond that capacity in the future. CBD, one of many compounds known as cannabinoids in the hemp plant, is extracted from the biomass. CBD is used in a variety of wellness products. "The CBD oil industry is virtually unknown to the vast majority of U.S. consumers, and we're excited to increase the awareness of its benefits in the Southeast," said Fox.
In addition to extracting CBD oil from industrial hemp biomass, Blühen Botanicals will consult with farmers regarding best practices to produce high-yield crops, conduct genetics research and development on industrial hemp, and sell wholesale CBD crude oil, distillate, isolate and full-spectrum oil. The U.S. Department of Agriculture recently confirmed a 12-year low forecast for U.S. farm income in 2018. "We want to educate farmers on how to grow healthy plants for people, but also help them rebound from the struggling agricultural industry," said Fox. "We will have farming experts on staff to educate farmers and provide operational expertise to onboard them quickly."
Blühen Botanicals is projected to employ two dozen people within two years and expand its number of farming partners to grow high-yield industrial hemp crops. The group has engaged a board of advisors that includes neurologists, biochemists, marketing experts and attorneys. Blühen Botanicals will receive the group's Series A funding in the next 60 days. The company is also exploring partnerships with universities around the country to further expand hemp genetics research and development.
Construction has already started on the new facility located at 2209 N. Central Street with SandersPace Architecture and Build Knox Construction leading the property design and development.
"Our mission is to employ science to consistently turn out high-quality hemp-derived CBD products for use by the wellness industry," Fox said. The company also plans to educate farmers and consumers about the advantages of hemp and differences between hemp and cannabis. The new company will kick off that education with a statewide campaign later this year.
Though not yet operational, Blühen Botanicals will serve as presenting sponsor for the inaugural Southern Hemp Expo in Nashville, on September 28 – 29. The expo will showcase hemp producers, consumer brands and new developments in farming, genetics and hemp-based products.
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Blühen Botanicals is an industrial hemp processing company in Knoxville, Tenn., where science meets hemp. Our mission is to employ science to consistently produce high-quality hemp-derived CBD products for use by the wellness industry. In a market inundated with poor-quality and imported CBD products, Blühen Botanicals implements Good Manufacturing Practice procedures and FDA-level quality assurance protocols as well as third-party testing to assure its partners and consumers of a consistently top-grade product. Learn more at www.bluhenbotanicals.com.
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