Seed World: EcoGen Biosciences Announces Plant Now, Pay Later Hemp Seed Program
EcoGen Biosciences introduced the EcoGen “Plant Now, Pay Later” program. The Plant Now, Pay Later program enables hemp farmers to have access to affordable, high-cannabidiol (CBD) hemp genetics without the upfront cost of purchasing seeds prior to planting, which mitigates many of the risks farmers face, such as depleting their capital upfront. The program gives them the latitude to invest more into their farming operations pre-harvest.
Through the program, hemp farmers are offered competitively scaled rates on EcoGen’s exclusive hemp genetics. Participating clients have the option to:
- Purchase seeds at a discounted price if paid for upfront.
- Purchase seeds at a standardized price if paid by the end of December 2021 (after harvest).
- Pay back the purchase price of seeds in qualified biomass after harvest.
The Plant Now, Pay Later program provides hemp farmers with the opportunity to focus financial resources on growing and processing without the financial burden often required to acquire seeds for hemp cultivation.
“As the market prices and demand for raw hemp materials continues to evolve, so must the relationships within the supply chain,” says Garrett Bain, president of EcoGen and Chief Commercial Officer of Kadenwood, LLC. “As a fully integrated hemp company, with operations in genetics, cultivation, extraction, refinement, and finished goods, EcoGen has a unique opportunity to mitigate risks for fellow hemp industry members. We understand and appreciate that farmers rely on our specialized genetics in order to successfully grow first rate, sellable crops. We believe in our genetics so much so that we are willing to take the risk on the front end, let our farmers grow with our seeds and either pay after harvest, or provide the biomass as payment for the cost of the seeds. We feel this is a win-win for our customers and for EcoGen and we are proud to support our industry further with the establishment of this program.”
Andrei McQuillian, head of Global Sales and Marketing of EcoGen, says: “We foresee many if not all of our longtime and new hemp farming partners taking advantage of the program. As we further develop the ethos of our company, we know that we are grounded in the belief that all business dealings should be both mutually beneficial and not damaging to the world around us, and we also stand to make a positive impact on the industry as a whole. This program is the first of many embodiments of this ethos and we hope that those on the frontlines of growing hemp not only utilize the program, but that it enables them the most success in this year’s harvest as possible.”