CropLogic Limited (ASX: CLI) is an agriculture technology company which provides cutting edge technology to farmers for decision support. CLI today provided an update on its Industrial Hemp Trail Farm in Oregon, USA, mainly relating to the genetic seeds and drone capabilities of the company.
LogicalCropping, a wholly owned subsidiary of CropLogic, is operating the Hemp Trial Project, which is designed to use CropLogic’s agriculture technology and agronomy to enhance production and CBD yield. This season features three different seed varieties known for their CBD compliance, resilience and proven track record of production in Central Oregon. It includes:
T2: Lineage (Trump x Trump)
T2 was acquired from a well-regarded seed company in Oregon and denotes high terpene production and CBD yield above 11% and touching 16% under best-growing condition. It was produced across the US last year. All seeds come off fields/plants tested by the State of Oregon and verified as being under 0.3% THC.
T2 (Source: Company’s Announcement)
Midwest Strain
The provider of these seeds has a good industry reputation. Midwest strain depicts both sativa and indica landrace traits with a large dense flowering and a robust plant structure from for large biomass production. The expected CBD is approximately 14%, peaking around week 5 and falling to around 12.5% for weeks 6-9.
Berry Blossom
This seed was procured from a seed company based in Colorado. Berry Blossom is considered as a result of a cross of two varieties, Chardonnay and Cherry Kandahar. The company informed that the Berry Blossom is recognised for its extremely floral smothered in exotic overtones of candied raspberries and acai berries and constant CBD yield of 13% along with THC in the range of 0.2 to 0.3% range.
Berry Blossom (Source: Company’s Announcement)
Drone Capability
CropLogic enhanced its drone capabilities ahead of 2019 North America growing season. Drones are used to infrared imagery to detect plant stress and CropLogic has hired dedicated staff with comprehensive skills in imagery interpretation. Since the project is underway, CLI has been approached by growers in the region for its agtech and drone technology. CropLogic expects to have early take-up of its technologies and potential business for CropLogic’s agtech and agronomy in the growing hemp market in Oregon. It is reported that CropLogic’s technologies like realTime2 and aerial imagery would be used to enhance the yields and grade of hemp biomass crop.
Hemp Trial Farm Progress
In April, CLI notified about the expansion of farm size from 150 acres to 500 acres. Today, it was reported that leases for the newly acquired area have now been signed. Hemp Trial Farm has been attracting a considerable amount of interest from capital markets and the hemp industry.
Hemp Trial Farm (Source: Company’s Announcement)
James Cooper-Jones, CEO of CropLogic, stated that CLI had acquired superior genetics having a rich history in producing superior CBD grades and the farm continues to draw interest both regionally and by industry participants.
On 21 May 2019, CLI shares settled at A$0.036, up 2.86% from the prior close. In the past three months, performance of the stock is up by 191.67%. The 52-week high and low of the stock are A$0.050 and A$0.011, respectively.
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