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CropLogic to harvest this month at central Oregon hemp trial farm

Snapshot

The company has crop in the ground and its next steps include harvesting and determining yield.

CropLogic Ltd - CropLogic to harvest central Oregon hemp trial farm this month

Quick facts: CropLogic Ltd

Price: 0.031 AUD

ASX:CLI
Market: ASX
Market Cap: $12.91 m
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  • Harvest at a LogicalCropping hemp trial farm in Oregon in the US will take place this month. 
  • The CropLogic group has used its own realTime yield optimisation tool at the central Oregon trial site. 
  • Its Oregon crop has been declared industrial hemp compliant, with THC levels being significantly below the state’s maximum delta-9 level. 

Harvesting is to occur during October and will include different harvesting methodologies at the hemp trial farms to test their application into hemp farming at scale and potential use in any eventual expansion. 

CropLogic, October 7

What does CropLogic do?

CropLogic Ltd (ASX:CLI) is a nine-year-old agricultural technology and agronomy company with operations in North America and Australia.

The Western Australian digital agtech group has a suite of soil management solutions and brands with its original intellectual property offerings spun out of the New Zealand Institute for Plant and Food Research.

The company has leveraged more than 30 years of plant performance data to develop its cropping solutions.

CropLogic’s ethos is to create intuitive tools that complement the in-ground knowledge farmers hold.

The international group is assessing its products for use in hemp-growing Western markets with a trial crop in Oregon in the US.

It is also looking at establishing a 100-acre hemp trial farm in Australia as it assesses opportunities in the Australian and New Zealand hemp sector.

Who leads CropLogic?

The company is led by chief executive officer James Cooper-Jones, an accountant with more than 13 years’ experience in industry.

Cooper-Jones was previously the company’s chief financial officer and capital markets advisor.

The experienced director previously led Sohdan Capital as its managing director and has held CFO roles at a series of Australian resources companies.

What does CropLogic own?

The key assets are CropLogic realTime yield optimisation tool, the CropLogic Aerial Imagery solution for visual monitoring and the global group’s US subsidiary LogicalCropping LLC.

LogicalCropping is responding to new cannabis opportunities in Western markets by using CropLogic realTime technology to facilitate hemp production processes.

The CropLogic group is one of the first ASX-listed companies to secure a US hemp growers licence and has achieved success in the field at a trial farm.

Its investors are hoping for a good harvest and yield rates from the operation’s upcoming cropping and a crop value that exceeds the company’s market capitalisation.

The Boring Seed Company of Oregon USA T2 hemp strain crop has already been declared industrial hemp compliant by an ORELAP (Oregon Environmental Laboratory Accreditation Program)-accredited laboratory authorised by the Oregon Department of Agriculture.

THC from CropLogic’s hemp was found to be below maximum levels for industrial hemp in Oregon, which is delta-9 levels of less than 0.35%.

Crops at the group’s trial farm in central Oregon had delta-9 results ranging from zero to 0.0738%.

In the first week of October 2019, CropLogic was preparing its trial farm for harvest.

This month’s harvest will involve a variety of harvesting methodologies CropLogic plans to use at its hemp trial farms as the group tests their suitability for farming hemp at scale.

The company also hopes to learn from its experience, to judge how its methods can be used in any future expansion to crops in-field.

Inflection points

  • Harvest at hemp trial farm, including yield outcomes and associated economic values
  • Lessons learned from harvesting methods
  • Continued trial farm activity and commercial farming commitments
  • Agtech tool update rates and associated revenues
  • Financial milestones and significant transactions

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CropLogic increases acreage at US industrial hemp trial farm, enhances...

CropLogic Ltd (ASX:CLI) chief executive officer James Cooper-Jones speaks to Proactive Investors about the agtech company’s recent industrial hemp trial farm expansion in central Oregon, US.   The increase of 150 to 500 acres will further vertically integrate CropLogic’s agronomy...

on 30/4/19

4 min read