$5.8 million "Hempwood" factory planned by U.S. firm to create wood-like material

"The company, Fibonacci LLC, said it has secured a lease on an 11,000 sq. ft. facility in western Kentucky and plans to begin production this summer. Fibonacci owner Greg Wilson said he has contracted for delivery of more than 800 tons of hemp stalks from Kentucky growers to get operations up and running." - HempToday 

The hemp is pressed to mimic the growth cycles of an oak tree. Hemp grows extremely fast and has a wide range of uses. The company expects to employ 25 people making hemp blocks to make furniture, flooring, skateboards and more at a cheaper price than oak products, the company said. 

"Fibonacci received $300,000 in tax incentives from the Kentucky Economic Development Finance Authority." - HempToday 


Andy Kerr Says 

Conservationist, Writer, Analyst, Operative, Agitator, Strategist, Tactitian, Schmoozer, Raconteur 

"2.6% of US farmland would have to be dedicated to the cultivation of industrial hemp to displace 75% of the US annual wood consumption:


  • 72,000,000            US tons of annual US wood consumption (domestic & imported) 

  • x .75                     Percentage reasonably converted to tree-free fibers 

  • 54,000,000            US tons of annual wood consumption reasonably displaced by annual fibers.

  • ÷ 4.5                     US tons/acre of usable hemp fiber (both short and long) 

  • 12,000,000            Acres of farmland necessary to displace 75% of wood        consumption (domestic & imported)

  • ÷ 464,053,800       Acres total US cropland 

  • 2.6                        Percent of US cropland to displace 75% wood consumption."