- Recent passage of 2018 Farm Bill clears way for farming of industrial hemp and production of cannabidiol (CBD)
- Photobioreactors currently used in cultivation of green algae, a high protein dietary supplement or whole food cultivated worldwide with multiple industry uses
- Project goal includes mass production of CBD from cell cultures of industrial hemp
- SinglePoint’s online CBD distribution subsidiary, SingleSeed, poised for significant growth as selection of CBD products increases in 2019
- Hemp-derived CBD market expected to reach $1.3 billion by 2022
SinglePoint, Inc. (OTCQB: SING), a fully reporting technology company providing mobile payments, blockchain solutions and ancillary cannabis services, is quickly taking advantage of its first-mover status in the CBD space with an investment in TorusMed Inc., which plans to develop CBD cell cultures from industrial hemp with photobioreactors. In a news release announcing the investment, SinglePoint said that the project’s goal is to ultimately have pharmaceutical grade CBD cultivated in a lab setting to ensure consistency of a premium product (http://nnw.fm/Gt876).
Photobioreactors create a closed system, providing a controlled environment fed by either natural sunlight or artificial light that enables high productivity of plant cell structures. Photobioreactor systems are currently being used to…
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