3 Rivers Biotech, JRT Nurseries Partner For Tissue Culture Hemp Clones
3 Rivers Biotech Ltd. has entered into a joint venture agreement with JRT Nurseries Inc. to produce and supply premium, pathogen-free, tissue-cultured hemp plants to the rapidly expanding hemp market. As a condition of the agreement, JRT will provide full, exclusive access to its tissue culture lab and greenhouse facilities located in Mount Vernon, Washington.
The Mount Vernon facility comprises a 14,000-square-foot tissue culture lab and 40,000 square feet of attached propagation greenhouses, with a combined production output of up to 12 million plants per year. Under the agreement, 3 Rivers will provide hemp varieties sourced through strategic partnerships with breeders, manage all hemp-related operations, and propagate tissue culture hemp clones for marketing and sale to the hemp industry.
“We at 3 Rivers are excited to be partnered with JRT, a proven tissue culture operation that has had a successful history of propagating millions of plants per annum at its Mt. Vernon facility,” said 3 Rivers CEO Robert Allen. “These assets, combined with our hemp expertise, creates a world-class tissue culture operation that will feed into an emerging and expanding market. We are equally pleased that our initial financing was oversubscribed despite the current economic chaos. With a healthy treasury and wise, prudent management we see this venture as being successful in both the near and far term.”