 | Hemp in NZ: The Independent: Turning Hemp Into Profit |
 Turning hemp into New Zealand's next big export industry could see Auckland-based Hemptech list on the NZX reports XtraMSN Business.
The company, which began exporting hemp-based fabric to Australia last year, is seeking advice on its capital-raising options.
Founding director Nic Foreman says Hemptech is forecasting its products will fuel a multi-million dollar industry in the next five to 10 years.
But money is needed for the business to grow.
"I guess the trick is to raise as much money as possible while giving away as little as possible," Foreman said.
Fabric sales grew steadily last year, with the Australian market accounting for 10% to 20%. The company's $700,000 turnover is well up on the previous five years, Foreman said.
Europe and America are the next markets on the list.
"Eventually we want it to be mostly export, say 90%," Foreman said. "We are geared totally for that dream."
It's not just fabric that's up for grabs.
Hemptech is sinking funds into researching and developing hemp-based composite reinforcing products.
"What most people don't realise is that hemp fibre has almost the same strength as fibreglass but is much lighter," Foreman said.
The bark of the hemp plant, or stalk, is processed. The centre of the stalk is used as horse bedding because it is highly absorbent, taking up to seven times its weight in water.
Overseas, hemp is becoming a popular alternative to synthetic reinforcing fibres.
BMW and Mercedes are using hemp composites in dashboards and door panels. Foreman said tighter regulations on material used in cars bodes well for the eco-friendly product which doesn't require any pesticides to grow.
A European Union directive states all new vehicles should be 85% reusable and recyclable in weight by 2015.
Trials with one of New Zealand's leading surfboard makers proved hemp-based surfboards are as good, if not better, than fibreglass boards, Foreman said.
The list for potential hemp composite products is exhaustive. Skateboards, snowboards, decking material, window frames, and the like, are all being considered.
On behalf of Hemptech, Tech New Zealand has funded a Waikato University student to do a master's degree and a PhD on hemp and its commercial realisation.
Hemp, remembered mostly because it's part of the marijuana family, is the strongest and one of the oldest natural fibres in the world.
Hemptech imports thousands of metres of the processed product from China every month. It dyes, blends and manufactures the fabric here, then sells the finished product to interior designers and soft furnishing outlets. It looks and feels like linen.
Hemptech's upholstery and curtain fabric recently won a prestigious fabric design award at Sydney's Comfia DesignEx show.
Natural fibres such as silk and cotton can be blended with hemp. Foreman says the vat-dyeing process helps make the material resistant to sunlight and fading.
He says there may be an opportunity to grow hemp in New Zealand, particularly as the climate is ideal.
Currently the company is growing hemp in the Waikato, concentrating on the fibre's potential use in the manufacturing and automotive industries.
Once used by mariners for ropes and sails, hemp products went out of fashion when synthetic materials, such as nylon, became the vogue in the 1940s.
America's Declaration of Independence was written on hemp.
Eastern Europe and Asia continued to use hemp cloth for prestigious and ceremonial occasions.
As Western societies return to more environmentally friendly practices, it looks as if hemp is back in vogue - and this time round with more scope.
www.xtramsn.co.nz
Newshawk: the_pyramid
|
|
|
|
| |
| Login |
|
You can register for some special extra features. | |
| Article Rating |
Average Score: 4.8
Votes: 5
| |
|
