Nextleaf Solutions Ltd (CSE:OILS, OTCQB:OILFF) has reached an agreement with Hempcrete Natural Building Ltd to commercialize a US patent related to the use of hemp ash as a material in the production of concrete.
Hemp ash, processed using Nextleaf technology, can be used as a replacement for fly ash, which is produced as a byproduct of burning coal. The ash is a key ingredient in Portland cement, the most commonly used type of concrete in the world, which research suggests generates 2-3% of global energy use and approximately 5% of man-made carbon dioxide emissions, Nextleaf noted.
The deal allows Hempcrete Natural to commercilize the patent on a non-exclusive basis, according to a statement. Hempcrete is a British Columbia-based construction company working to create carbon-neutral communities through sustainable, renewable and stronger buildings.
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Government-funded research and development led by Nextleaf Engineering Manager Krupal Pal has shown superior performance of hemp ash as both a valorized biofuel and as a cementitious material, the company said.
When hemp biomass is burned to create hemp ash, power is generated and metric tons of biomass can be diverted from landfills, the company said. Current estimates suggest that nearly 1 billion kilograms of biomass are harvested annually.
"Nextleaf identified carbon lifecycle management as an opportunity to reduce greenhouse gas emissions while launching a new vertical. We are excited to license our technology to a team of subject matter experts with decades of experience with hempcrete building materials," said Nextleaf CEO and co-founder Paul Pedersen.
Elsewhere, Nextleaf announced that CEO Paul Pedersen will be presenting at Canaccord Genuity (TSX:CF, LSE:CF)'s 6th Annual Cannabis Conference at 8 am ET on May 11.
Nextleaf Solutions is a federal-regulated manufacturer and distributor of cannabis vapes and oils under the Glacial Gold brand. The company's multi-patented ingredient processing technology transforms cannabis and hemp biomass into high-purity distillate at an industrial scale.
Nextleaf is also a low-cost producer of cannabis oils and supplies THC and CBD ingredients to qualified wholesale partners across Canada.
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