The Kentucky Agricultural Development Fund has approved a $500,000 combination grant and loan for hemp-processing equipment.
Atalo Holdings, a Kentucky company focused on research, development and commercialization of industrial hemp, plans to use the money to buy equipment for a new crushing center. In June, Atalo imported and distributed 14,000 pounds of hemp seed to 30 growers, who plan to raise 545 acres of hemp in Central Kentucky.
Atalo CEO Andy Graves said they the company is testing multiple seed varieties and processes. Graves said the grant for processing should help farmers establish a clear path to market.