ColorPoint has transitioned to become a hemp only company and has merged operations with AgTech Scientific of Paris. The fully vertically integrated hemp company will immediately become a leader of outdoor and indoor grown quality hemp products. The operations have been granted both a Hemp Grower License and Hemp Processor License from the Kentucky Department of Agriculture.
“Today is a great day for the company, our employees and our families,” said ColorPoint Co-President, Art VanWingerden. “The strength of our unique approach and partnership with local farmers, combined with our indoor grow capabilities and our vertical extraction integration, places ColorPoint and AgTech in position to take a leadership role in the emerging U.S. hemp industry.”
The companies met in 2017 and later formed a business relationship to produce clones beginning with the 2019 outdoor farming season. Additionally, a successful beta test of indoor hemp grows in late 2018 led to a supply agreement between the companies that included agricultural processing, clones and an indoor grow during the summer season.
“The announcement today is the big next step for the hemp industry,” said AgTech Scientific Director of Communications Jessica Scott. “AgTech and ColorPoint are committed to their people, appreciated by everyone, especially farmers. I have been in the industry for numerous years and I am more excited about the future today than ever before.”
ColorPoint had been researching alternative crops for numerous years and after careful consideration approached AgTech Scientific in early 2019 to accelerate their relationship. The parties agreed that it was best to move forward