SANTA CLARA, Calif., Sept. 18, 2019 (GLOBE NEWSWIRE) — SPI Power Co., Ltd. (“SPI Energy” or the “Company”) (SPI), a international provider of photovoltaic (“PV”) options for business enterprise, residential, government and utility consumers and investors, nowadays announced the launch of its newly established hemp and CBD business enterprise.
The Business has not too long ago executed a management solutions agreement with the Native American Agricultural Business (“NAAC”) to cultivate hemp in the Navajo Nation and obtained licenses from the Navajo Nation to engage in lab testing, cultivation, processing, wholesale distribution, and retail sales of hemp. At present, its hemp cultivation in the Navajo Nation is getting overseen by a third-celebration management corporation on a 36-acre plot of land licensed by the NAAC. The Business expects to harvest its initial crop of hemp in November 2019.
Mr. Xiaofeng Peng, Chief Executive Officer of SPI Power, commented, “We are eager to enter the hemp industry and satisfied to be functioning with the Navajo Nation. Some estimates have the international industrial hemp industry developing from USD four.41 billion in 2018 to close to USD 15 billion by 2026. We want to be element of that development. The Navajo Nation and Native American Agricultural Business are fantastic partners for us as we embark on this fascinating venture.”
About SPI Power Co., Ltd.
SPI Power Co., Ltd. is an established green power player with international operations in crucial markets in Australia, Europe, Japan and the United States. It is leveraging its sizable solar platform and market experience to make strategic investment possibilities in green industries with important development and earnings possible and/or industries than can advantage from green energy.
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SPI Power Co., Ltd.
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