A major producer of tobacco has decided that they’re quitting the industry to instead grow hemp.
The 22nd Century Group has helped design over 50 varieties of tobacco, all of which have been modified to be less addictive; certain brands of their tobacco contain up to 97% less nicotine than most cigarettes. Currently the New York-based biotech company is valued at over $60 million.
Now, after years of working with tobacco, the company is switching gears; going forward they will be growing and producing hemp for industrial and medical use. The company plans to use the tools at their disposal to help produce hemp that consistently grows without tetrahydrocannabinol (THC), the active ingredient in cannabis (hemp plants also tend to have THC, but minuscule amounts).
Read moreTobacco Producer Quitting Tobacco, Switching to Hemp