Hemp Inc (OTCMKTS:HEMP) was down marginally during the Monday’s trading session as investors settled with the company’s update on its decortications facility. In a press note released last week, the industrial hemp manufacturer provided an update on its decortications facility located in Spring Hope, North Carolina. The company said that it had installed the latest Guard Lite Security Lighting Systems at the facility.
New development
It is noteworthy that these Guard Lite Security System is produced by Liberated Energy, Inc. (LIBE) in Marlton, New Jersey. The system is developed to be run by wind and solar energy. The company was able to install the self-powered systems as a result of its strategic partnership between its subsidiary, Industrial Hemp and Medical Marijuana Consulting Company (IHMMCC) and Liberated Energy.
Hemp Inc (OTCMKTS:HEMP) excitedly elaborated the benefits that it has started reaping as a result of the installation of the system. The company noted that Liberated Energy’s technology not only efficiently lights the facility but also offers a wifi high definition camera, which works with two-way audio and infrared and motion technology. Further, the system generates 4.5 KWh of electricity per day, out of which, only 0.60 KWh of energy is used per day.
Meeting with Duke Energy
Thus, Hemp Inc (OTCMKTS:HEMP) has a surplus of 3.9 KWh of electricity at its disposal to be put to use for either running other electrical devices or option of selling it to Duke Energy. The company informed the shareholders that IHMMCC’s David-Schmitt will meet the representative of Duke Energy this week in order to sell the surplus electricity available with them. Meanwhile, CEO Bruce Perlowin reiterated the company’s commitment of taking care of sustainability, clean and renewable energy.
The stock of Hemp Inc (OTCMKTS:HEMP) was down by 0.50% to $0.0199 during the last session, after which it further dipped by 3.22% to $0.0193 in after-hours. An average of 14.06 million shares traded hands.
