USDA Publication of Interim Final Rule for U.S. Hemp Cultivation Expected to Fuel Demand for AgEagle's HempOverview Solution
November 07 2019 - 8:30AM
Barrett Mooney, Chief Executive Officer of
AgEagle Aerial
Systems Inc. (NYSE American: UAVS), an industry leading
provider of advanced aerial imagery and data collection and
analytics solutions, today formally commented on the recent
publication of the interim final rule establishing the U.S.
Department of Agriculture (USDA) Domestic Hemp Production Program
in accordance with the 2018 Farm Bill; and emphasized the impact
this may have on demand for AgEagle’s HempOverview
Software-as-a-Service (SaaS) solution. Mooney said:
“The USDA’s publication of the interim final
rule represents a defining moment in the emergence of industrial
hemp production in our country and marks a critical step forward in
returning hemp to its former status as a major U.S. crop on the
global stage. Effective October 31, 2019, the interim final
rule will allow the USDA to use the 2020 growing season as a chance
to test drive the rule, helping to guide any adjustments that are
made in the final rule, which will be published in two years.
Moreover, with the publication, states and tribes may not prohibit
the interstate transportation or shipment of hemp that is lawfully
produced under an approved state or tribal plan, a USDA issued
license or the 2014 Farm Bill.
“In brief, states and tribal plans for managing
hemp production in their regions must include procedures for
tracking the land where hemp is grown; procedures for testing using
post-decarboxylation or similarly reliable methods for determining
THC levels – which must remain under 0.3%; procedures for disposing
of non-compliant plants; procedures for handling compliance
violations and scheduled inspections of farms; procedures for
sharing information; and for certifying that the state or tribe has
the available resources to effectively manage their plans.
“With AgEagle’s introduction of HempOverview, we
have essentially created a secure, scalable solution for managing a
highly efficient hemp farm registration process that both improves
interagency communication and defines and helps to maintain best
industry practices for governmental oversight, compliance and
reporting requirements in the dynamic regulatory landscape.
At this juncture, we know of no other SaaS solution on the
market that provides the multi-faceted level of support and
services as HempOverview for state and tribal hemp program
administrators, processors and growers. As such, we intend to
aggressively pursue opportunities with industry players in those
states and tribal lands which have indicated their intentions to
implement state hemp production programs.
“We have little doubt that HempOverview will
ultimately become the preferred technology solution for states and
tribes which desire to effectively and efficiently manage the
regulatory complexities of this emerging multi-billion dollar
industry,” concluded Mooney.
To learn more about AgEagle’s HempOverview
solution, please visit
https://www.ageagle.com/analytics for more
information.
About AgEagle Aerial Systems,
Inc.
Founded in 2010 and based in Neodesha, Kansas,
AgEagle has earned distinction as one of the industry's leading
pioneers of technologically advanced aerial imagery-based data
collection and analytics solutions. We are trusted to
help the world's growers, consumer packaged goods companies
and their supply chain partners, and urban green managers
proactively assess and manage the health of commercial crops and
green infrastructure, reduce the chemicals in produced foods and
products and preserve and protect natural resources. In
addition, we are at the leading edge of providing state and
territorial departments of agriculture, growers and processors with
registration, oversight, compliance/enforcement, and reporting
solutions relating to the United States' emerging hemp cultivation
industry. For more information, please
visit www.ageagle.com.
Contacts:
Gateway Investor Relations Cody
SlachSean MansouriPhone: 949-574-3860Email: UAVS@gatewayIR.com
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