The operation is expected to begin production this summer. Eight hundred tons of hemp stalks have already been contracted through growers in western Kentucky.
Fibonacci will lease an
11,000-square-foot facility in Murray for its first manufacturing
location with plans to establish a world-class, automated HempWood
operation.
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. Hemp stalks grow in six months,
compared to oak trees, which take decades.
Greg Wilson, owner of Fibonacci, 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.
"The commonwealth's burgeoning hemp industry is quickly gaining national attention, and this exciting project will significantly intensify that spotlight," Gov. 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."
Kentucky Commissioner of Agriculture
Ryan Quarles said this is another step toward the diversification of
the state's burgeoning hemp industry.
