Monday, April, 15, 2024 02:22:30

Reports suggest that Hemp New Zealand (NZ) is investing several million dollars into NZ Yarn for developing wool blends and other products. Apparently, Hemp NZ would be taking a 15 percent stake, under the deal, and invest several million for installing a fiber processing facility within the Burnside, Christchurch, factory of NZ Yarn.

Further from the reports, this new partnership would be a catalyst for the market-leading innovations in processing hemp fiber, and to develop new consumer products made from hemp yarn, non-woven wool and hemp products, and wool and hemp yarn blends. It would also enable Hemp NZ to install natural fiber processing line, that would separate hemp stalks into fiber.

Dave Jordan, Chief Executive Officer of Hemp NZ, mentioned that it would be the first processing line of its type and enable Kiwi producers to add more value to exports. Other products like eco matting would give landscapers and road contractors an alternative to environmentally damaging matting.

Jordan said that there are a lot of consumer and industrial uses for both hurd and hemp fiber. The company is developing hemp and wool yarn blends initially which would provide a wider variety of products to the consumers made from natural fibers.

Hemp fiber is easy to grow organically, is pest-resistant, and produces a very good yield of fiber per hectare in contrast to many other crops. It does not require bleaching or chemical processing, has excellent strength and durability, and blends very well with other fibers, Jordan added.

Chairman of NZ Yarn, Craig Carr, was quoted saying that this investment signifies an important strategic milestone for the company. It diversifies the business of Hemp NZ and enables the company to engage in remarkable product innovation, along with broadening the customer base and product range with a natural fiber which has enormous unrealized potential.