Greenfern Industries, Hemp Connect, and Callaghan Innovation have received an additional Bioresource Processing Alliance (BPA) grant to investigate high-value products that can be derived from the by-products generated during hemp seed processing.
If the project reaches commercial viability, it would result in new food and cosmetic products created from material that would otherwise be discarded during hemp seed production.
The three companies submitted a joint application for BPA funding and were awarded NZ$110,000. Greenfern and Hemp Connect will each contribute $15,000 in cash and $10,000 in-kind to the project.
The grant will support continued research that began in early 2021 and has so far produced encouraging results. Greenfern managing director Dan Casey said: "To begin with we're looking at a high-quality, plant-based soluble protein (peptide) made from New Zealand-grown hemp.
"The research we've already done tells us this product alone would be new to market – there doesn't appear to be anything like this readily available elsewhere in the world."
The project will also examine whether lipids — fatty, waxy, or oily substances — could be extracted through various methods and used as an edible or cosmetic oil. Work is expected to begin within the next few months and will run for approximately 16 months.
Separately, Greenfern has launched a $1.2m offer to wholesale investors, with shares priced at $0.115 and a minimum investment of $10k, as part of a broader effort to raise up to $5m.
