Halcyon Thruput Signs Processing Agreement With GenCanna

Dallas-based Hemp companies Generation Hemp and its affiliate Halcyon Thruput have entered a new Toll Processing Agreement with GenCanna Acquisition Corp., a Kentucky-based hemp processor and CBD product manufacturer.

The agreement provides ongoing mid-stream hemp services at Halcyon’s 48,000-square-foot operating facility located in Hopkinsville, Kentucky. Under the terms of the agreement, Halcyon will dry, process and store significant amounts of hemp biomass assets for GenCanna that will be used in cannabidiol (CBD) extraction. Process operations from this new contract are expected to commence prior to mid-July.

In conjunction with this new Toll Processing Agreement, Halcyon has upgraded its Kentucky-based facility with four new belt dryers. Each dryer is equipped with variable temperature settings that enable an efficient drying process while protecting the plant’s valuable cannabinoid and terpene content. In addition, the upgraded systems are modular and can produce approximately 800 pounds of uniformly dried hemp per hour. These modular systems, which are clean-burning natural gas fired, provide the facility with redundancies to ensure constant operations and also help to prevent any co-mingling of customers’ biomass.

Financial terms of the agreement are not being disclosed.