Hemp Inc (OTCMKTS:HEMP) updated on the progress of its decortication plant in Spring Hope. So far, the company installed the Guard Lite security system that was made by Liberated Energy, Inc. in Marlton, New Jersey. It can be defined as a self-powered solar and wind power security and lighting system. The company entered into a strategic association with Liberated Energy and IHMMCC to get the system.
Hemp stated that in addition to the LED lights, the system also features a Wi-Fi high definition camera with two-way audio with motion and infrared technology. Each unit has the capability to generate 4.5 KWh of electricity in a day. It consumes power of .60 KWh per day leaving additional power of 3.9 KWh to be utilized for other electrical equipments. The additional power leaves Hemp, subsidiary firm, Industrial Hemp Manufacturing, LLC with an option to sell the surplus power to Spring Hope’s Duke Energy.
Bruce Perlowin, the CEO said that it is all about sustainability, renewable and clean energy. As per Hemp’s executives, COO of subsidiary firm, Industrial Hemp Manufacturing, LLC, will meet Duke Energy in this week to have talks on selling surplus power from the Security System to the grid. The COO said that the company can access the HD camera from any location in the world from the computer or cell phone as long as there is a Wi-Fi connection. As per Perlowin, Hemp intends to install two additional Guard Lite Security Systems to get 360 degree visual protection. The Temafa Engineer will arrive to the facility on May 16, 2015 to conduct a thorough inspection of the facility and make necessary recommendations.
In last trading session, the stock price of Hemp dropped more than 7% to close the trading session at $0.0914. The decline came at a share volume of 6.06 million compared to average share volume of 15.09 million.