New Funding in Hand, Neutra Casts Eye Towards Technology in Vertical Integration Drive
Wednesday, February 19, 2020 12:40 PM
SUGAR LAND, TX / ACCESSWIRE / February 19, 2020 / Neutra Corp. (NTRR) continues its efforts towards vertical integration, this time examining the potential of integrating technology into its hemp-based CBD enterprise. The company believes the time is right to add a technological dimension to its operation and that such an addition could lead to greater future growth and expansion opportunities.
"This is a natural progression of our ongoing vertical integration push," said Sydney Jim, Neutra's CEO. "Last year, we enjoyed success with the VIVIS acquisition that gave us a retail presence. We expect similar results in our efforts to acquire land and facilities for hemp cultivation. Adding a technology component to our growing mix would make us a stronger, more competitive company in control of the entire process from the field, to the lab to the retail store."
Earlier this month, Neutra announced it had received a fresh round of private equity funding. These new funds could help the company partner with an existing CBD-related technology company or acquire one. A CBD-related technology company is typically involved in improving CBD delivery methods, such as boosting concentrations and increasing absorption rates.
CBD is a natural, multi-purpose hemp compound believed to offer a wide range of medical benefits. Users report relief from anxiety, lessening of the effects of seizures, slowing of neurodegenerative disorders, pain relief, and alleviation of certain cancer treatment side effects. Hemp-extracted CBD consumers also don't face the dangers of addiction, in contrast to opioid users.
The Hemp Business Journal has forecasted that by 2022, sales of hemp-derived products will reach $22 billion by 2022. Last year, that same market posted sales of $390 million.