By exploring the use of hemp waste to produce graphene, an incredibly useful material, Panacea aims to improve sustainability while diversifying sources of income.
Exactus, Inc. (OTCQB: EXDI)
– Doug Grego, responsible for the development of new projects at Panacea
GOLDEN, CO, UNITED STATES, September 17, 2021 /EINPresswire.com/ – Exactus, Inc. (OTCQB: EXDI), soon to be Panacea Life Sciences, Inc. (OTCQB: PLSH) (the “Company”), a The cGMP certified and vertically integrated premium CBD company located in Golden, Colorado, has agreed to sponsor groups of chemical engineering students at the Colorado School of Mines, a prestigious research university focused on science and engineering and also located in Golden, Colorado, to explore the viability of using the company’s hemp waste to create the highly usable material, graphene. Through this project, Panacea is awarded four times by continuing to produce graphene, giving Mines students the opportunity to conduct research in a real-world scenario, improve sustainability by reducing waste of process energy from manufacturing cannabidiol (CBD) products and diversifying income streams. School of Mines courses use these realistic one-semester projects to provide students with an authentic industry experience, which provides sponsoring companies with innovative opportunities with minimal risk. Doug Grego of Panacea, Director of New Project Development, will mentor two groups of 16 students throughout the fall semester.
“Senior level design courses are a great opportunity for engineering students to get a taste of how to complete projects like they will in their careers,” says Grego. “Partnering with the School of Mines’ Chemical Engineers allows us to explore ways to reduce waste and expand the range of industries that hemp can support, while mentoring the next generation of environmentally conscious STEM students. .
Graphene is a material composed only of carbon atoms, arranged in a lattice structure which gives this material an extraordinary strength-to-weight ratio, but more importantly, makes graphene an excellent conductor of electricity. Graphene has potential use in a wide range of industries, from energy storage to high-tech electronics, and even has uses in medical therapy. It is predicted that by 2026, the global graphene market will reach USD 221.4 million at a CAGR of 47.7%. The goal for these student teams is to design a process that converts hemp and hemp waste to graphene oxide and / or other graphene products, using spent hemp raw materials from the processes of extraction and / or the hemp biomass collected before the extraction of the hemp resins.
Panacea will own any intellectual property resulting from the project that could offer them a starting point in their dive into new technologies. The biggest challenge facing students is determining whether it is viable and cost effective to separate the bast (the core of the hemp stalk) from the cannabinoid-rich inflorescence. Grego de Panacea will be engaged with the groups on a weekly basis to answer questions, offer feedback and set expectations for project deliverables.
Sustainability is an important initiative for Panacea Life Sciences – something that sets the company apart from most others. The main sources of waste in industry include chemical fertilizers, pesticides, fibrous waste and packaging. Panacea is answering the call by never using chemical fertilizers or pesticides on their farm on the West Slope of Colorado, and they are implementing sustainable packaging using boxes of products made from it. recycled hemp. As a Silver Partner of the Colorado Department of Public Health and Environment (CDPHE) Environmental Leadership Program (ELP), and Certified Leadership in Energy and Environmental Design (LEED) by the US Green Building Council (USGBC) , Panacea has already implemented several sustainable practices and made a statement on their care and commitment to sustainability. The results of these projects at the École des mines could very well help them achieve an even higher distinction as they strive to improve sustainability and minimize hemp waste while generating a new, highly functional material. such as graphene.
1 Safder, A., Kouzegaran, VJ, & Kutun,. (nd). 60 Uses of Graphene – The Ultimate Guide to (Potential) Graphene Applications in 2019. Nanografi Nano Technology. Retrieved September 15, 2021, from https://nanografi.com/blog/60-uses-of-graphene/.
2 American Carbon Society. (nd). Retrieved September 15, 2021, from https://amcarbon.com/products/advanced-materials/graphene/graphene-types/.
Exactus, Inc. (OTCQB: EXDI) (the “Company”), acquired Panacea Life Sciences, Inc. on June 30, 2021. Panacea, founded by Leslie Buttorff in 2017 as a woman-owned business, attracted 20 million dollars in investments. In 2019, followed a $ 14 million investment from 22nd Century Group, Inc. (NYSE American: XXII), a leading plant biotechnology company focused on technology to reduce nicotine in tobacco plants and uses its expertise in genetic engineering of hemp plants to alter the levels of cannabinoids used. in the manufacture of CBD, CBG and CBN.
Panacea Life Sciences is a leader in the production of legal THC-based hemp-derived products for consumers and pets, which operates a 51,000 square foot cGMP certified facility in Golden, Colorado and the PANA Organic Botanicals farm in western Colorado, with a fully integrated extract, manufacture, test and run system. Panacea produces capsules, gummy candies, tinctures, sublingual tablets, cosmetics and other topical products for purchase online (www.panacealife.com) and in stores as well as in smart vending machines deployed in the nationwide.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategic partnership with the Colorado School of Mines. The words “believe”, “may”, “estimate”, “continue”, “anticipate”, “intend”, “should”, “plan”, “could”, “target”, “potential”, ” is probable, “” will “,” expect “and similar expressions as they relate to us are intended to identify forward-looking statements. We have based these forward-looking statements in large part on our current expectations and projections regarding future events and financial trends which we believe could affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those of forward-looking statements include the possibility that our partnership with the Colorado School of Mines may be unsuccessful. Additional risks are included in the filings with the SEC by Exactus, Inc., parent company of Panacea. Any forward-looking statements that we do here is only valid on the date it is made. Factors or events that could cause our actual results to vary may occur from time to time and we cannot predict all of them. We assume no obligation to publicly update any forward-looking statement, except as required by law.
Nicolas J. Cavarra
Panacea Life Sciences, Inc.
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