-GENH Attends Largest Annual Biomass Conference
-GENH “First Mover” in Hemp Biomass space
-Bitcoin Mining Facility Will Be First Biomass Use Case For GENH
Generation Hemp, Inc. (OTCMKTS: GENH) CEO Gary C. Evans attended the 15th annual International Biomass Conference & Expo in Jacksonville, FL which took place March 14th through 16th. It is the largest conference in the biomass industry and unites industry professionals from all sectors of the world’s interconnected biomass utilization industries—biobased power, thermal energy, fuels, and chemicals.
We contacted Mr. Evans for commentary on the conference, judging by his comments the trip was quite beneficial for GENH.
“While attending the conference, I had the opportunity to address a panel of five experts in the field with some questions and comments. I asked them had they ever heard of utilizing hemp as a feedstock for biomass boilers rather than the traditional wood waste. Surprisingly, none of them had heard of this idea before. After I explained in detail our company’s plans in this area and how hemp only took 90 – 120 days to grow to maturity and trees took 12 -15 years before harvesting, I think a light bulb went off with all of them. All of my business cards on hand were subsequently given out within ten minutes!”
Biomass is just the latest use of hemp hurd for midstream processor Generation Hemp, Inc. (OTCMTKS: GENH). GENH’s first use of hemp biomass will be in a recently announced JV with Crypt Solutions, Inc. installing a two (2) megawatt modular plant that according to recent press should be launch within the next several months.
The 2 MWs of power would be able to support 576 mining units. Assuming 100 TH/s per unit, GENH and Crypt Solutions would be able to generate $4.08 Million in Bitcoin revenues in 1 year of operations, assuming today’s spot price of Bitcoin.CEO Gary C. Evans continued to explain, “By utilizing a sustainable plant like hemp to burn in a boiler for generating heat and steam used for electricity generation, we cut the ecological footprint substantially from traditional methods. Then when we utilize that eco-friendly electricity to fuel Bitcoin mining operations, we significantly reduce the strain on our existing electricity grid due to Bitcoin’s high electrical demand needs.”
HEMP AS BIOMASS MEANS BIG OPPORTUNITY FOR GENH
Generation Hemp, Inc. (OTCMKTS: GENH) may be a first-mover in the “Hemp Biomass” market and this could be extremely lucrative. According to Grand View Research, the global biomass power market size was valued at USD $121.3 billion in 2021 and is projected to grow 6% annually between 2022 to 2030.
The market gains popularity as a rise in environmental concerns forces various countries to increase the share of renewable energy in their power mix.
Hemp crops grow in 3 to 4 months, requiring less time and energy to cultivate than wood, making GENH’s biomass solution even greener than the already green biomass process.
This is why GENH’s CEO believes “Generation Hemp is quickly becoming one of the most innovative and exciting energy transition companies.”
The bitcoin mining facilities could be the start of a major revenue stream from GENH. This revenue stream in addition to hemp drying and processing, animal bedding through Rowdy Rooster, and oil absorption through Gas Monkey gives the company a plethora of revenue streams and is great news for potential investors. Start your research now.
This article is part of a sponsored investor education program.
