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Nation's First HempWood Operation to Locate in Kentucky
USAgNet - 03/20/2019

Gov. Matt Bevin Tuesday announced Fibonacci LLC will locate a HempWood manufacturing operation in Calloway County with a more than $5.8 million investment expected to create 25 full-time jobs.

"The commonwealth's burgeoning hemp industry is quickly gaining national attention, and this exciting project will significantly intensify that spotlight," Bevin said. "This hardwood alternative opens up new possibilities within the construction and woodworking industries and emphasizes the capabilities hemp has across numerous sectors. We are grateful to Greg Wilson and Fibonacci LLC for locating the United States' first HempWood operation in Kentucky, and we look forward to the powerful impact the company will have on the region's economy and the overall industry."

Fibonacci will lease an 11,230-square-foot facility in Murray for its first manufacturing location with plans to establish a world-class, automated HempWood operation. The company located in Murray after its leaders established a relationship with Murray State University, and 800 tons of hemp stalks have already been contracted through growers in west Kentucky. The operation is expected to begin production this summer.

"We look forward to being a productive member of Kentucky's agricultural and manufacturing communities, and the enormous opportunities of HempWood as a renewable alternative to Oak," said Greg Wilson, owner of Fibonacci. "Dr. (Tony) Brannon from Murray State University planted the seeds and Phill McCallon, Kentucky employee No. 1, demonstrates Kentucky's expertise in agriculture and manufacturing."

Wilson formed Fibonacci in March 2018 following 13 years of experience, research and development in the wood products industry. Wilson co-owns SmartOak -- www.smartoak.com.au -- which creates engineered wood products using logs that would otherwise be converted to wood chips. Fibonacci uses technology popularized by China's strand-woven bamboo industry, in addition to SmartOak tech, which originated in Australia. Dewevai Buchanan, the company's commercial director, is an internationally recognized product expert with 25 years of experience in hardwood and decor manufacturing industries.

HempWood -- with its patented process and product made from hemp fibers and soy-based adhesives -- has been in development for the past decade and is viewed to have a number of advantages over traditional oak hardwood. In addition to a higher availability of hemp -- hemp stalks grow in six months, compared to oak trees, which take decades -- Wilson said processed hemp can reach 20 percent higher density than oak, which provides sustainability and hardness. HempWood can be used in products ranging from flooring and furniture to woodworking projects and culinary serving boards.

Kentucky Commissioner of Agriculture Ryan Quarles said this is another step toward the diversification of the state's burgeoning hemp industry.


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