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Criticality partners with Pyxus to bring industrial hemp extraction to North Carolina

The new extraction and purification facility is expected to be completed in the fall

CBD oils in jars
Pyxus’ SENTRITM track and trace technology will monitor the hemp cultivation process

Industrial hemp company Criticality has plans for a new extraction and purification facility in its home state of North Carolina.  

The 55,000 square foot facility will be used for the extraction and purification of locally grown industrial hemp, which will then be turned into cannabidiol liquids and oils under the company’s Korent brand.

Shares of Pyxus were up 37% to US$23.95 in morning trading.

READ: Alliance One International stock soars after subsidiary signs deal to sell medicinal cannabis oils

The hemp processor is teaming up with agricultural company Pyxus International Inc (NYSE:PYX) , formerly known as Alliance One International Inc. (NYSE: AOI), to keep tabs on the new operations.

Pyxus’ SENTRITM track and trace technology gives insight into the lifecycle of the products by monitoring data related to the growth, cultivation, harvest, processing, formulation, testing and release of individual batches.

The renovation is expected to be completed in fall 2018.

Quick facts: Pyxus International Inc

Price: 9.21 USD

NYSE:PYX
Market: NYSE
Market Cap: $84.41 m
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