Arcadia Biosciences (NASDAQ:RKDA), the crop science firm, has announced a tie-up with Vivion Specialties Inc (VSI) to distribute its first Hawaiian grown and extracted ingredients throughout North America.
The new partnership is between Vivion and Archipelago Ventures - the firm's joint venture with Legacy Ventures Hawaii to grow and extract high-quality hemp and derivatives on the islands.
READ: Arcadia Biosciences partners with two companies to introduce its GoodHemp seed line to California growers
VSI will be Archipelago's North American distributor, managing marketing and sales of the ingredients in key markets like food and beverage, human and pet nutrition, with sales expected later this year.
"When it comes to hemp and hemp-derived products like cannabidiol (CBD), ingredient transparency and quality control are a high priority for discerning retailers and shoppers," Arcadia CEO Matthew Plavan said in a statement.
"With VivAssure, Vivion Specialties has pioneered a new and rigorous standard for the testing and certification of hemp ingredients. What's more, Vivion is an experienced specialty ingredient supplier with a network of 18 sales regions in the U.S. and Canada, making them an ideal partner to distribute what we expect will be the first Hawaiian-grown, Hawaiian-extracted CBD ingredients available in North America."
Archipelago's Hawaiian hemp products will be marketed as meeting VivAssure product standards, namely free of over 950 pesticides and contaminants, 24 heavy metals and a variety of microbial organisms, and contain the precise tetrahydrocannabinol (THC) content and CBD profile listed.
"For more than sixty years, Vivion Inc has prioritized providing customers with the highest quality product ingredients across the food and beverage, human and pet nutrition and personal care markets," VSI CEO and Founder and Vivion Inc president Michael Poleselli added.
"Through our partnership with Archipelago and Arcadia Biosciences, a leader in hemp innovation, we're applying these capabilities to one of the most exciting and in-demand new consumer product categories: hemp-derived CBD."
Shares in New York eased 1.95% to $2.51 each.
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