U.S. licence to grow hemp to fuel hemp energy storage research facility

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Alternet Systems, Inc. (ALYI) has secured acreage in New York to grow and house a facility where hemp bast will be harvested for conducting further research within the company’s hemp energy storage imitative.

Having secured a licence in the state to grow hemp needed, the move will help fuel efforts at the company’s hemp energy storage initiative launched late last year, notes a statement from ALYI, which is focused on offering varied, environmentally sustainable, energy storage solutions for targeted markets.

ALYI has engaged the services of Nouveau to manage the hemp farming operations, the press release states.

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The company cities a report from Bloomberg New Energy Finance, which forecasts the global energy storage market will “double six times” from 2017 levels to 2030, from 5 gigawatt-hours in 2018 to more than 300 GW hours and 125 GW of capacity by 2030.

“An estimated US$103 billion will be invested in energy storage over that time period,” the statement notes. “ALYI management believes hemp energy storage is a strong candidate for receiving a fair portion of the anticipated investment.”

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