VENCOR INTL INC (OTCMKTS:VCOR) said that it entered into a deal to commence testing industrial hemp as a feedstock to manufacture several torrefied products, including Bio-Coal. The deal is made Georgia based Vega Biofuels, Inc. As per the deal, Vencor need to immediately start with the testing process.
Vencor recently gave Vega with samples of torrefied wood pellets that are made from timber waste. It is given for assessment purpose by Vega’s client. Several tests were conducted, including sulfur, ash, and volatile content testing and fixed carbon and BTU content. The performed tests exceeded the requirements essential for agreement by Vega. The company will offer similar samples to Vega utilizing industrial hemp as a feedstock.
The management speaks
James Gaspard, the CEO said that Vencor looks forward to check hemp as a feedstock for Bio-Coal product. The one major benefit that hemp cherishes over other feedstock is it can be harvested annually, while other feedstock takes years to grow. The management anticipates that assessment will exceed the essential requirements and expects to expand use of industrial hemp as per the current legislation. Gaspard stated that as laws varies in different states, the management expects legislation enabling for the increase in the application of industrial hemp. By conducting this testing, Vencor will be ready with its solution whenever the change takes place.
Vencor operates in the segment of making torrefied wood products. They are also termed as Bio-Coal that can substitute traditional coal in coal-based power plants across the world. Bio-coal or torrefied wood products are renewable energy product resulting from timber waste utilizing technology termed as torrefaction. The energetic and physical properties of the biomass are much more comparable to conventional form of coal. On Monday’s trading session, the stock price of Vencor was trading 16.67% lower at $0.00050 in early morning session.