Hemp investor

Low Carbon Accelerator (LCA) has invested £1.088m in the UK’s largest producer of industrial hemp, Hemcore, for a 30 per cent equity stake.

The investment will enable Hemcore to purchase and install a new operating plant to increase its range of products, such as the recently launched natural fibre insulation product sold under the ‘Breathe’ brand name.

Hemcore has 1,000 hectares of hemp farmed under contract. Hemp used to be grown in the UK to produce fibre for sails and rigging, but Hemcore has revived the practice to produce low carbon raw materials for industries ranging from fibre for the European automotive industry to horse bedding.

Other options for the use of hemp being explored by Hemcore include the development of a lightweight particle board made from shiv, the woody part of the hemp plant, for use as loft board, work tops and furniture.

Andrew Newman, CFO of LCA will join the board of Hemcore as part of the contract.