Arcadia Biosciences Inc (NASDAQ:RKDA) received its first high-fiber wheat purchase commitment for 2020 through Bay State Milling. It should be noted that Bay state Milling is the sole North American commercial partner on this project. Matt Plavan, the CEO and President of Arcadia, expressed that the GoodWheat harvest has been good this year, as it surpassed the number of acres planted last year by ten times. They are on their way to meet revenue numbers for Goodwheat in the next two years. The company has been expanding its acreage to fulfill its 2020 sales commitments.
Peter Levangie, the CEO and President of Bay State Milling, said that the high-fiber wheat technology grows their supply chain of wheat varieties and strengthens their HealthSense portfolio. They expect more innovation to come from Arcadia. Sharing the same view, Paul Sproule said that they cherish their partnership with Arcadia as the company brings profitability and innovation to wheat.
Scaling hemp operations
Earlier in October, Arcadia reported that it finalized a deal with Archipelago™ Ventures for growing its Hawaiian hemp cultivation footprint. The joint venture will grow the overall grow footprint on Hawaii by three times, through associations with two new license owners. With seeding new acreage in October, Archipelago will recruit both seasonal and permanent workers to work on the research program involving the harvest of different new varieties and harvest management.
The launch of hemp cultivation in Hawaii is revolutionizing the lives of local communities and cultivators, leading to new economic and professional possibilities for islanders and stimulating economy. Archipelago Ventures possesses a 30-acre cultivation footprint in Hawaii. It would increase the company’s biomass production and broaden planned scientific testing to assess the effects of distinct agricultural factors within single microclimates, like elevation and soil type.
Also, the company would be able to advance and assess highly specialized, productive, and resilient exclusive hemp seeds intended to behave consistently in a particular geographic environment, offering greater reliability and sophistication to Hawaii’s cultivation practices.