The famous Stanley brothers from Colorado seem to have secured what is widely regarded as the first hemp plant patent in the U.S.
According to records at the U.S. Patent and Trademark Office, Charlotte’s Web Holdings Inc. got a patent for a distinct and new hemp cultivar on July 2, 2019. This cultivar is designated as “CW3A” at the patents office.
The documents refer to this cultivar as one that is resistant to cold and is capable of yielding up to 6.24 percent CBD and just 0.27 percent THC on a dry matter basis.
It is crucial to note that the patent documents stipulate that the hemp cultivar keeps the THC level below the 0.3 percent THC threshold for hemp set by law, so the plant can be cultivated in accordance with the 2018 Farm Bill.
CBD has exploded in popularity since last year, but the industry lacked a brand that consumers across the country can trust. Charlotte’s Web may be the first company to create such a brand, and this could put the holders of the patent in a very good position to reap the rewards of a market that is hungry for a quality product.
What sets Charlotte’s Web aside from all the other products that are on the market is that the Stanley brothers have a patent for a cultivar and they have a product that is already doing well on the market. Other companies, in effect, all sell generic products since they don’t have any proprietary plant from which they extract their CBD.
When looked at from that angle, the patent obtained by Charlotte’s Web Holdings takes on even greater importance since it can be used as a major marketing tool.
It should also be remembered that most hemp plants can yield about 3 percent CBD, so if the cultivar for which Charlotte’s Web has obtained a patent can yield twice that amount, then it may be on high demand from growers since the price of dry hemp matter varies in accordance with the amount of CBD that it can yield.
Farmers will also have no worries that their plants will become “hot” (contain THC that exceeds the acceptable legal limit). By law, “hot” plants must be destroyed, and such a crop doesn’t qualify for federal crop insurance. The implications of this patented cultivar could be far-reaching, all to the benefit of the company which pulled it off.
Industry watchers believe the step taken by Charlotte’s Web will be applauded by other hemp industry actors like VPR Brands LP (OTCQB: VPRB) and Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) who stand to benefit from a more a mature industry with stable cultivars.
About HempWire
HempWire (HW) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWire (HW) is where HEMP news, content and information converge.
To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.hempwire.com
Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.hempwire.com/Disclaimer
Do you have a questions or are you interested in working with HW? Ask our Editor
HempWire (HW)
Denver, Colorado
www.hempwire.com
303.498.7722 Office
Editor@HempWire.net
