A new facility to produce fiber from hemp and other agricultural products is to set up shop in the US state of Virginia.
The green rush in the USA has mainly been centred around cannabidiol (CBD), which resulted in a glut. Now more attention is being paid to hemp fiber, but processing facilities are still thin on the ground.
Virginia looks to be a leader on this front, with another facility now in the works. Governor Glenn Youngkin announced last week FyberX Holdings will invest $17.5 million to establish its U.S. headquarters and production operation in Mecklenburg County.
“This industry provides a sustainable alternative for industrial and consumer products that will also bring economic benefits to Virginia communities and farmers, and we look forward to a successful partnership with FyberX,” said the Governor.
Various assistance is being provided to get this project and the jobs it will create happening, including a $150,000 grant announced by Governor Youngkin to assist Mecklenburg County with the project. FyberX will also be eligible to receive state benefits from the Virginia Enterprise Zone Program and there will be cash to support FyberX’s employee training activities via the Virginia Jobs Investment Program.
Furthermore, the Virginia Department of Agriculture and Consumer Services (VDACS) will assist hemp producers in the state to take advantage of the opportunities that will be created.
CEO of FyberX Ben Young says Southern Virginia is well positioned to play an important role in taking advantage of the economic potential of hemp. Industrial hemp has plenty of applications beyond CBD and textiles; including but not limited to construction, packaging, automotive, and bioplastics.
“We are excited to work with the local community to implement socially responsible best practices, including a zero-waste production model that minimizes emissions, a transparent supply chain, fair wages, and safe and state of the art processing facilities, all of which will define a new global standard for natural fiber production facilities,” said Mr. Young.
This won’t be the first facility capable of processing hemp into fibre opened in the state with a helping hand from Virginia’s government. Appalachian Biomass Processing has an established facility in Wythe County, as has Shenandoah Valley Hemp in Elkton.