Sheboygan-based iHemp Alliance Medical LLC plans to raise $12 million to build a 48,768-square-foot industrial hemp growhouse and laboratory, according to a recent SEC filing.
According to iHemp’s website, its hemp would be grown for a variety of uses, including clothing, food and beverages, paper, building supplies, plastics, building materials and chemical cleanup. The company plans to build a pharmaceutical-grade ISO Class 5 Cleanroom facility and use aeroponic technology to grow its hemp.
iHemp was incorporated in March by Thomas Ducharme, president and chief executive officer.
Vincent Petrescu, a CPA who also works for iHemp, confirmed the funds were being raised to build the growhouse, but declined to comment on the plans because the company is in “stealth mode.” Read the full story here.