ALBUQUERQUE, N.M.–(BUSINESS WIRE)–Santa Fe Farms LLC, a leader in the production, extraction, manufacturing, and distribution of THC-free, Hemp-based phyto-cannabinoids, announced today that it has acquired FathomNM, LLC’s post cultivation services as part of its overall Hemp operations in New Mexico. FathomNM, LLC CEO Jeff Apodaca has joined Santa Fe Farms as both Vice Chairman of the Board of Managers and CEO of H47, Santa Fe Farms’ post cultivation service enterprise.
“This is a win-win situation,” said Steven Gluckstern, CEO of Santa Fe Farms and chair of the Board of Managers. “Now, Santa Fe Farms has a turnkey operation with verticals in each significant area of Hemp production including seed genetics, cultivation and post cultivation services, processing and manufacturing, consulting, wholesale, white label and retail sales, and the development of HempTraxx, a SCaaS blockchain software offering.”
H47 refers to Hemp in New Mexico, the 47th state and according to Apodaca and Gluckstern, will provide a complete, post-cultivation solution for Hemp farmers in New Mexico by offering harvesting, post-harvest processing, testing, storage, and downstream sales opportunities. H47 is currently working with approximately 25 small-scale, New Mexico farmers who represent over 600 acres of high-quality cultivation potential.
Gluckstern and Apodaca, both equally understand the importance of enriching and growing New Mexico’s local economy and the opportunity to create a new industry. “We believe at Santa Fe Farms in the traditions of New Mexico and the continuous relationship with the land, while combining 15th generational New Mexican experience with 1st generational New Mexican expertise. We will lead New Mexico to become #1 in Hemp production in the U.S.,” said Apodaca.
Hemp will grow agricultural, manufacturing, construction, and technology jobs in New Mexico. In the U.S., the CBD market size is predicted to reach almost $10 billion by 2022.
Apodaca added, “The excitement around the Hemp industry has created challenges that are common with any new emerging industry, especially for farmers. One specific market failure is liquidity post-harvest, due to the current lack of validation, processing and extraction services, and efficient market-making. H47 solves this market failure with a combination of technological solutions and innovative operating procedures including accurate lab testing and certification.”
In addition, Santa Fe Farms will soon launch a $25 million, 100,000 square foot Hemp operation construction project that will include a leading-edge processor, extractor, warehouse, and laboratory with 50,000 lbs. per day dried biomass processing capacity. The facility, located on a 20-acre site located in Albuquerque, will be one of the largest, expandable facilities of its kind in the United States.
Currently, there are several problems confronting the Hemp processing and extraction sector including insufficient capacity, lack of economic scale efficiencies, inconsistent output quality, limited and narrow breadth of product, and most importantly high and unsustainable marginal operating costs. According to Gluckstern, “Our expertise will allow us to process in the most environmentally sustainable way while substantially reducing our per unit cost of extraction, a critical competitive advantage. In fact, our proprietary processing and extraction processes will actually ‘give back’ to the environment by capturing ‘green’ byproducts, many of which can be stored and used as clean energy.”
About Santa Fe Farms
Santa Fe Farms, LLC, a local, national, and international leader in the production, extraction, manufacturing, and distribution of THC-free, Hemp-based phyto-cannabinoids, was founded in February 2019. Steven Gluckstern, a serial entrepreneur, realized that the passing of the Farm Bill in December of 2018 would open a window of opportunities for Hemp and CBD as it became legal nationwide as long as it does not contain more than .3 percent THC, the psychoactive component of the plant. With a small group of investors, Gluckstern expanded his operation to what is now one of New Mexico’s premier Hemp farms with over 520 acres and an expansive operation. Giving back to the community by creating opportunities is one of the pillars of Santa Fe Farms, a company with a mission to enrich local communities, grow New Mexico’s economy, and create new opportunities for farmers and entrepreneurs within the exploding Hemp industry. Over the last 18 months, Santa Fe Farms and FathomNM, LLC have raised over $6 million.