Key Takeaways
- Hempalta Inc., a Canadian AgTech company, has been selected as one of the Top 10 Startups for Calgary’s 2023 Launch Party.
- The company specializes in industrial hemp processing and aims to revolutionize the industry with its state-of-the-art HempTrain™ advanced hemp processing system.
- Hempalta also focuses on monetizing industrial hemp carbon removal credits, targeting a market projected to reach $2.68 trillion by 2028.
- The company has initiated talks with energy and other industries interested in securing industrial hemp carbon credits.
- Hempalta aims to measure and monetize hemp acreage’s carbon removal globally, with 1,000,000 acres under its measurement, reporting, and verification system by 2025.
Calgary-based agricultural technology company Hempalta Inc. has been selected for the coveted Top 10 Startup List at Calgary’s 2023 Launch Party, scheduled for November 23. The company will also present at the TAKESTOCK Investor Forum in Calgary on November 1.
Recognition and Criteria
The Launch Party aims to highlight promising startups in Calgary and wrap up Innovation Week in the city. To be selected for the Top 10 list, companies must operate for less than three years, be revenue-positive, and demonstrate growth potential. Prizes to be awarded during the event include a People’s Choice Award, Alumni’s Choice Award, and the Alex Raczenko Pitch Award.
Technological Innovation
Hempalta is pioneering advancements in the industrial hemp sector through its state-of-the-art HempTrain™ advanced hemp processing system. “We leverage a state-of-the-art processing technology to process industrial hemp at our plant in south Calgary. Our business offering includes consumer packaged goods, commercial products, and industrial hemp carbon credits,” said Darren Bondar, Hempalta’s President and CEO.
Carbon Credits and Sustainability
One of the most intriguing aspects of Hempalta’s business model is its focus on monetizing industrial hemp carbon removal credits. The company is targeting the global voluntary carbon market, projected to reach $2.68 trillion by 2028. Hempalta has begun discussions with companies in the energy sector and other industries interested in securing these credits, demonstrating a commitment to sustainability and regenerative agricultural practices.
Strategic Alliances and Future Goals
Hempalta has a strategic alliance with the Hemp Carbon Standard, positioning it to measure, report, and verify hemp removal credits globally. The company aims to have 1,000,000 acres of hemp under its measurement, reporting, and verification system by 2025. This will allow it to measure and monetize hemp acreage’s carbon removal globally through satellite data and flux towers.
Photo by Matteo Paganelli on Unsplash
