Blue Sky Hemp Ventures, an emerging leader in hemp processing, has received its Health Canada Standard Processing Licence and is kicking-off production of high-quality cannabinoid extracts from their large-scale extraction facility, the first of its kind in Canada.
The move into CBD takes Blue Sky one step closer in its vision towards whole plant utilization, using the hemp’s grain for superfoods, stalks for sustainable industrial materials and now its flower for CBD extraction.
Blue Sky is currently producing CBD crude oil and distillate with CBD isolate expected to come on stream within the next two months, joining a host of hemp-based products on the company’s roster and taking the CBD market, which is estimated to be worth $3.9 billion, by storm.
Blue Sky’s Saskatoon based state-of-the-art facility can process up to 200,000 kg of industrial hemp a year and has room for much more – allowing the company to continue meeting the growing needs of a market expected to reach $9.6 billion by 2025.
“Our business is among the first to pursue three revenue streams from the same hemp crop – fibre, food and extracts. This is a big moment for us and our growing partners. As one of very few extractors, we have direct access to the high-value CBD market which will generate significant revenue that hemp growers can’t get to alone,” said Co-Founder and CEO, Andrew Potter.
And Blue Sky’s unique approach to processing broad-acre-grown hemp is expected to have a knock-on effect, driving substantial cost reductions across many Canadian CBD products. The company’s end-to-end process can reduce biomass volume by up to 90 per cent and increase CBD potency levels up to three times, allowing for better extraction, lower transport costs and the ability to capture both seed and fibre for food and industrial products.
The expansion into CBD will also provide additional value to Blue Sky’s farming partners, Potter commented. “We expect the revenue growth from extraction sales to drive production of more hemp acres and primary processing jobs in rural communities throughout the prairies.”
Born innovators, the Calgary-headquartered team isn’t ready to stop there. In addition to the CBD launch, Blue Sky has its sights set on further amplifying its commitment to sustainability by supplying hemp for renewable energy sources, textiles, plastic displacement input and wood pulp alternative in the near future.
As Blue Sky CEO, Potter, said: “The sky truly is the limit.”