A Stirling-area company says it has secured 2 million dollars from investors to open the first North American bio-processing plant for industrial hemp.
Stonehedge Bio-Resources Incorporated says it plans to open a bio-refining facility this year.
The operation would produce Hemcrete, an environmentally friendly limestone building material similar to concrete. The company also expects to produce more than 17 million dollars a year in renewable hemp fibre, wood-like chips, pellets, matting and seed products.
Stonehedge Bio-Resources says it plans to start with five employees this year and employ up to 27 people by 2011. It says the global renewable and bioproducts industry is expected to exceed 125 billion dollars in revenues by 2010.
