The partnership with NC State marks Pyxus' second research agreement to develop better data and insights for hemp farmers
MORRISVILLE, N.C., Nov. 5, 2019 /CNW/ -- Pyxus International, Inc. (NYSE: PYX), a global value-added agricultural company, has signed an agreement with NC State University's College of Agriculture and Life Sciences (CALS) to fund research designed to determine the impacts of using differing fertility rates on hemp plants grown in a greenhouse environment.
The research will identify and quantify if the hemp plant's overall growth, as well as its cannabinoid and CBD quantity and quality, are impacted by varying fertility rates. Information gathered from the trials will be used to address knowledge gaps in hemp production in order to help farmers optimize their operations and grow the highest-quality hemp crops.
"It is our intention that findings from this research will help to establish best practices in hemp cultivation. These best practices can then be transferred to hemp farmers, and in turn, will lead to a reliable, high-quality source of CBD, which can be incorporated in products like our affiliate Criticality's Korent and Korent Select brands," said Bryan Mazur, Executive Vice President of Global Specialty Products at Pyxus International.
Pyxus' agreement with NC State is the second research partnership the company has announced in 2019. In August, Pyxus and Cornell University's College of Agriculture and Life Sciences entered into an agreement that will also result in hemp cultivation data.
"In a rapidly growing industry, these partnerships will provide valuable data and insight to farmers, as well as consumers looking to understand hemp and CBD," said Mazur. "We value the work NC State's talented researchers have already accomplished in this space and we are excited to work with them to further advance the industry for farmers and consumers in our home state and around the world."
"The interest in hemp production is vast, and although we've made progress, there's still a lot we do not know about the most efficient and profitable ways to grow hemp," said Brian Whipker, professor and Extension specialist in commercial floriculture production for NC State. "Pyxus' funding will help continue to advance our research to identify the fundamental agronomic science necessary to empower hemp growers."
Aspects of the research generated in collaboration with NC State will help to populate open-source best practices for hemp cultivation. The project is expected to continue through 2022.
About Pyxus International Inc.
Pyxus International Inc. (NYSE:PYX) is a global agricultural company with 145 years' experience delivering value-added products and services to businesses and customers. Driven by a united purpose—to transform people's lives, so that together we can grow a better world—Pyxus International, its subsidiaries and affiliates, are trusted providers of responsibly sourced, independently verified, sustainable and traceable products and ingredients. For more information, visit www.pyxus.com.
About NC State's College of Agriculture and Life Sciences
NC State University's College of Agriculture and Life Sciences (CALS) lives the land-grant mission through our 12 academic departments, research and extension services. What we think and do helps transform challenges into agriculture and life sciences opportunities that create economic, intellectual and societal prosperity across the state and around the world.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. Such statements include, but are not limited to, statements about future financial and operating results, plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based on the current beliefs and expectations of management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results may differ materially from those currently anticipated expected or projected. The following factors, among others, could cause actual results to differ from those expressed or implied by the forward-looking statements: changes in laws and regulations or the interpretation of laws and regulations, continued compliance with applicable regulatory requirements, and uncertainties with respect to the timing and outcome of any of the contemplated research. Additional factors with respect to risks and uncertainties with respect to an investment in the common stock of Pyxus International, Inc. can be found in its Annual Report on Form 10-K for the period ended March 31, 2019, and its other filings with the Securities and Exchange Commission (the "SEC") which are available at the SEC's Internet site (http://www.sec.gov).
SOURCE Pyxus International, Inc.
For further information: Joel Thomas, 919 379-4300, http://www.pyxusintl.com