- Two Canadian plant growing companies are forming a joint venture.
- The venture should yield an estimated 12 million cloned hemp plants.
- Initial funding has already been secured for the joint venture.
A new joint venture between 3 Rivers Biotech and JRT Nurseries, both plant-growing companies, will soon provide growers with several young plant options as the two plan to clone 12 million hemp plants from tissue cultures.
3 Rivers Biotech, based out of Vancouver, will be responsible for providing different hemp varieties through breeder partnerships. They will also be in charge of all hemp-related operations and propagate the hemp clones that will hit the market and be sold to growers.
JRT Nurseries, located in British Columbia, Aldergrove, and Lynden, Washington, will provide full and exclusive access to their tissue culture lab that spans a total of 14,000 square feet. They will also provide 40,000 square feet of propagation greenhouses that are estimated to yield around 12 million plants.
“Despite the current economic chaos,” the joint venture has successfully secured its initial funding, according to Robert Allen, CEO of 3 Rivers Biotech.
“With a healthy treasury and wise, prudent management we see this venture as being successful in both the near and far term.”
More information on the two companies creating the joint venture can be found here.