Louisville, KY (July 1, 2020) –- Kentucky-based Victory Foods PBC recently drew down its final payment of grant and friendly debt awards from the Kentucky Governor's Office of Agricultural Policy, the Kentucky Agricultural Finance Corporation, and Henry, Fayette, Bourbon, and Jefferson counties. These funds totaled $296,512 with debt of $230,000 to be returned over an eight-year period.
The investment has been utilized to fund grain storage, and value-added processing equipment including one of only three commercial hemp de-hulling lines in the U.S. certified to process USDA Organic certified hemp hearts as inspected by the Kentucky Department of Agriculture (KDA).
These funds were also used to capitalize on unique pieces of equipment required to produce Victory Hemp's proprietary V-70™ Hemp Heart Protein and V-ONE™ Hemp Heart Oil, which the company won an innovation award for at the recent World Ag Expo® in Tulare, California earlier in the year.
“As other hemp markets continues to experience volatility and uncertainty, I think farmers will find the grain market offers a welcome respite from the challenges facing them from a regulatory, marketing, and production perspective. Growing hemp for grain offers farmers a realistic, slow and steady growth curve and the opportunity to participate in the production of a commodity that rotates well into an existing production model,” said Chad Rosen, Founder & CEO of Victory Hemp Foods, Former President of the Kentucky Hemp Industries Association (KYHIA), and Director of the Organic Association of Kentucky (OAK).