Ingredient manufacturer Kemin Industries has made a strategic investment in Driftless Extracts, a USDA-certified organic hemp producer, processor and ingredient supplier based in Wisconsin, United States.
Operating from a LEED-certified Gold facility in Wisconsin, Driftless has seen significant growth in recent years, the company says, with increasing awareness and demand from consumers and businesses for hemp-based solutions. Kemin's equity stake brings the global company's quality reputation and customer and industry expertise to the hemp producer and processor's cultivation experience and portfolio of organic hemp-based ingredients.
As part of the partnership, the companies have entered a supply agreement related to various hemp-based products. Kemin will expand its offering of hemp-based ingredients with the addition of Driftless Extracts' full-spectrum hemp ingredients for the health and wellness market in the United States and globally.
"We are excited to be partnering with Driftless Extracts, a company that pairs its strong cannabinoid ingredient portfolio and extensive cultivation experience with a passion to shape a better future through sustainable solutions," said Dr. Chris Nelson, President and CEO, Kemin Industries. "We look forward to accelerating innovation through hemp plant science, furthering our vision to sustainably transform the quality of life for people around the world. Kemin recently announced our commitment to achieving net zero greenhouse gas emissions by 2050, and we appreciate the alignment working with Driftless Extracts brings to this important ambition."
"Driftless Extracts is thrilled to partner with a company of Kemin's stature in the general wellness ingredient space, as Kemin has a proven ability to deliver innovative and quality plant-based products to the marketplace. We look forward to collaborating with Kemin to further lead and advance the science, production and supply of hemp-based cannabinoids throughout the world," said Ed Liegel, CEO, Driftless Extracts. "Our shared company missions, dedication to sustainability and commitment to family values are well aligned, making this partnership a natural fit, built for the long term."