Competitive Edge: New West Genetics’ Hemp Varieties
Q: What was the reason for founding your organization – what was the open niche you saw that could be addressed with a new product or service? What was the problem, or gap, or opportunity?
New West Genetics recognized that the 2014 and 2018 U.S. Farm Bills provided an opportunity to create a new leading row crop from hemp. Different forms of this crop make a healthy ancient grain rich in protein and omega 3/omega 6 oils, expressed, an array of cannabinoids (e.g. CBD) expressed in flower cells, and high strength fibers. The company has bred these traits together, and has converted indoor-grown strains into a high value row crop, planted and harvested with mechanized farming. Since its founding in 2014, New West Genetics has assembled the most diverse collection of proprietary hemp varieties.
There is a rapidly growing multi-$B hemp product market, and hemp seed sells at a high multiple relative to other row crop seed. The U.S. market is expected to grow considerably with upcoming FDA approvals of CBD additives to food and hemp grain provided as animal feed.
Q: Tell us about your organization. What do you do?
New West creates hemp seed that is sold to farmers and the company also works with supply chain partners to create new bio-based hemp products.
The company created the first certified seed in the U.S., a registration that farmers expect for scalable commercial crops. Today, New West Genetics has more certified hemp seed varieties than any other company providing U.S.-based products.
Getting farmers to adopt a new crop requires a very collaborative process. The company frequently conducts webinars to provide information to our customers on best agronomic practices and cultivation methods.
Lastly, the company’s R&D efforts lead the industry, with more patent filings than any other hemp business. We have filed on high value traits, such as no or low THC, increased ratios of female: male plants, and increases in mechanically harvested cannabinoids.
Q: What stage of development are you?
Commercial stage – have mature products or services on the market.
Q: What do your technologies, products or services do and accomplish – how does it (they) work, who is it (they) aimed for?
New West Genetics has a large collection of hemp varieties, all of which have been 1) tested for performance and yield in the field, 2) monitored through chemical analytics to understand the composition of an array of key compounds, and 3) surveyed with DNA analysis to understand molecular markers and pedigree.
With this combination of technologies, we have been able to choose the highest performing, locally adapted varieties, that create high value grain, flower and fiber for farmers.
Q: Competitively, what gives your technology, product or service set an edge in cost or performance, sustainability, or any other aspect, that makes it stand out from the crowd, In short, what makes it transformative?
Competitors’ hemp varieties have typically been bred for indoor growing facilities. Many are not able to withstand normal field conditions. Moreover, their plant architecture does not support mechanical planting or harvest.
By contrast, New West Genetics created hemp varieties that can be managed like a typical row crop (corn, wheat, sorghum, etc.). Cultivating this crop provides per acre production of key compounds at 1/100 the cost of traditional hand cultivation.
These crops have seed germination, grain yield, and flower yield that surpasses other market options. In particular, our dual-purpose crops (flower and grain) are very attractive for farmers who want to sell products into the grain and CBD markets.
Overall, review of our collection by industry leaders has confirmed that the company’s genetic library is the most advanced and diverse in the industry.
Q: What are the 3 top milestones you have accomplished in the past 3 years?
- 1. Successful launch of product sales (2020)- certified high-quality seed sold to farmers throughout the U.S.
- 2. Alliance with leading Canadian seed producer / distributor.
- 3. “THC-0” – strong patent position for that trait and issued trademark.
Q: What are the 3 top milestones you will accomplish in the next 3 years?
- 1. Expansion of sales to serve the animal feed market (high protein/ attractive oil composition).
- 2. Series A capital raise.
- 3. Expansion of high value patent portfolio, continued claims on traits and varieties.
Q. Where can I learn more about New West Genetics?
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