Dallas, Texas, Feb. 16, 2022 (GLOBE NEWSWIRE) — Puration, Inc. (OTC Pink: PURA) today emphasized that the company’s new Farmersville Hemp brand is a global brand. PURA management pointed out that the U.S. today is only a small fraction of the global hemp market currently dominated by the Asia Pacific region.
Last year, PURA launched an initiative to expand the utilization of hemp worldwide under the brand name Farmersville Hemp.
PURA is building a co-op of hemp growers and processors to raise market awareness around the multitude of yet to be realized uses of hemp and build a brand name to benefit all co-op participants under the name Farmersville Hemp.
Today, PURA management points out that its co-op participants reach substantially includes global targets.
The industrial hemp industry, to include the portion of CBD exclusively from hemp, is anticipated to grow to $18 billion by 2026.
PURA management thinks this is a substantial underestimate because the industry has yet to recognize the multitude of ways hemp can be utilized.
The Sustainability Market is expected to expand from $9 billion reported in 2021 to over $41 billion by 2028.
PURA management believes the impact hemp can have on sustainability is not fully baked into the industrial hemp forecasts.
PURA anticipates generating $1 million in revenue in 2022 with the potential to reach $10 million in revenue this year. The $10 million revenue opportunity outlook is improving based on the recent progress of PURA’s co-op partners.
PURA published a 2022 strategic overview at the onset of this year detailing the company’s plan to grow revenue and increase shareholder value by driving market wide demand for the “multitude of yet to be realized uses of hemp.”
Next week, On Tuesday, February 22ndPURA management will publish its first progress update report on the execution of its strategic plan specifically focusing on the progress of the co-op partners that is improving PURA’s 2022 revenue outlook.
PURA co-op partners include Alkame Holdings, Inc. (OTC Pink: ALKM), PAO Group, Inc. (OTC Pink: PAOG), North American Cannabis Holdings, Inc. (OTC Pink: USMJ), and UC Asset LP (OTCQX: UCASU).
For more information on Puration, visit http://www.purationinc.com
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