2018 was a monumental year for hemp. With the signing of the Farm Bill on December 20, hemp and all products made from hemp--including CBD--became more accessible in the United States than ever before.
Elixinol experienced tremendous growth and success in 2018, too. We're one of the top CBD companies on earth, with:
- A second-to-none seed-to-sale process
- Distribution to 40 countries around the globe
- Clean, supercritical CO2 extraction
- Rigorous third-party testing to ensure purity and potency
- A family of superior hemp CBD oil products
Here is a quick snapshot of some of the year's notable highlights.
1. The 2018 Farm Bill was signed into law.
It can't be overstated--the Farm Bill is a game changer for the hemp industry. With the official removal of hemp from the Controlled Substances Act, more people than ever have the opportunity to benefit from hemp--consumers, businesses, and farmers alike.
"This is a momentous development for Elixinol as a market leader in the hemp CBD space," Elixinol CEO Paul Benhaim says. "The legislation change will create significant growth opportunities for Elixinol [...]. It also means we will be able to more openly advertise and market our products directly to consumers in the US..."
"[T]he new law provides assurances that consumer demand for CBD products can continue to grow and a solid US-based supply chain will be in place for the foreseeable future."
2. Elixinol became a publicly-traded company in Australia and the United States, experiencing 110% revenue growth as demand for hemp CBD rose.
Elixinol CEO Paul Benhaim at ASX listing.
In January 2018, Elixinol Global joined the Australian Securities Exchange (ASX:EXL) as a publicly-traded company, followed by the U.S. "OTCQX Best Market" (ELLXF) in September. After listing on the ASX, we reported revenue growth of 110% in the first half of FY2018 alone--and we were the only company on the ASX to report a profit.
Our 2018 growth was largely fueled organically by CBD product sales. We were even named the "Sleeping Giant" of the hemp market. With the hemp CBD industry poised to overtake the cannabis market and grow to $22 billion by 2022, this is an exciting time for our team.
3. Elixinol entered a joint hemp farming venture with Kersey Agricultural Company.
Planting hemp on NCHPP farmland.
The Northern Colorado High Plains Producers (NCHPP) is a joint venture formed by Elixinol and Kersey Ag in early 2018. This partnership will strengthen and expand our supply chain as we grow with the hemp industry.
The historic Kersey Ag has been operating in Colorado since 1901 and utilizes energy-efficient drip irrigation with no harmful chemicals added during their cultivation process.
NCHPP's Northern Colorado High Plains farmland includes as many as 700 acres for hemp cultivation, plus water rights. Through NCHPP, we're sourcing and growing more premium organic hemp at a lower cost, ensuring continued access to high-quality CBD oil sourced from U.S. hemp.
4. SATIVA Skincare, an indulgent, Hemp Seed Oil-based skincare line, launched.
The SATIVA Organic Hemp Skincare family of products.
In December 2018, we launched SATIVA Organic Skincare, a line of 100% plant-based, cruelty-free, and carbon neutral skin and hair care products. SATIVA features:
- Organic Hemp Seed Oil
- Rich, soothing Aloe Vera-based formulations
- Pleasing, unisex scents
- A variety of exotic botanical ingredients from all over the world
5. Japan's interest in CBD surged.
Hemp Today featured Elixinol's billboard at Tokyo's Omotesando train station.
In 2018, Japanese interest in CBD soared and Elixinol became the top CBD supplier in Japan. This past May, Japan allowed its first-ever hemp CBD oil advertisement to be publicly displayed: an Elixinol CBD billboard at Omotesando train station in Tokyo.
In September 2018, Elixinol increased its ownership in Elixinol Japan to 50.5%. Elixinol Japan anticipates continued growth for hemp CBD oil products, as well as hemp-derived skincare products and foods.
As we leave 2018 behind and begin a new year in 2019, we look forward to continuing to serve our customers and give back to the community. Helping others is at the heart of what we do, and we are grateful you're on this journey with us.
Happy New Year from our family to yours!