Hill Incorporated Shifts DehydraTECH into Overdrive
May 23rd, 2023
Top News, Top Story
The global cannabis industry is projected to grow at a 24.3% annual clip to reach $82.3 billion by 2027, according to Markets and Markets. As the market becomes more competitive, innovative companies are relentlessly pursuing cutting-edge technologies to drive product development and differentiate their line-up in an increasingly crowded market.
Hill Incorporated’s (TSX-V: HILL) (OTC: HSEEF) Hill Avenue Cannabis division is spearheading efforts to revolutionize cannabis delivery with its DehydraTECH technology.
In this article, we’ll look at the company’s tremendous progress in expanding DehydraTECH operations, how it’s advancing the business model, and why the recent ArcataX agreement could be a major boost for the business over the coming quarters.
Innovative Technology Expanding Its Market Presence
DehydraTECH is a pioneering biodelivery technology for cannabis edible products, enhancing the bioavailability, impact and taste of cannabinoid compounds. Using the technology, cannabis edible brands can provide their consumers with exceptional, best-in-class products to better compete on crowded dispensary shelves.
The company is deploying the technology through a four-pronged approach:
- Securing new licensees.
- Expanding into new states.
- Introducing new consumer product form factors.
- Deepening product penetration.
In the 2 1/2 years since acquiring the rights, the company has grown all of these key metrics, expanding DehydraTECH from 3 consumer product form factors and 4 states in operation to 10 form factors in market across 13 operating states, with the number of active licensees increasing from one to eight over the same period.
Expanding R&D & Operations in the Huge California Market
A key milestone for Hill Avenue is their recent licensing agreement with ArcataX, an award-winning cannabis extractor and product manufacturer. This strategic partnership allows DehydraTECH ingredient production and B2B sales to cannabis LPs and brands in California, which has by far the largest cannabis sales in the US.
The ArcataX agreement also fortifies Hill Avenue’s broad set of R&D capabilities. The partnership adds significant experience and knowledge on the agriculture and extraction side of cannabis to Hill Avenue’s already impressive food science, consumer product formulation, and R&D capabilities.
Hill Avenue’s operating footprint now spans 13 states, representing a total population of 150M and expected cannabis sales of $25.6B for 2023. With these states accounting for over ¾ of the $31.8B expected total US cannabis sales in 2023, and the total US cannabis market projected to reach $50.7B in 2028, Hill Avenue is primed for significant growth.
Hill Incorporated (TSX-V: HILL) (OTC: HSEEF) is shifting its DehydraTECH strategy into overdrive this year. After two years of significant advances across multiple growth drivers, the company’s ArcataX agreement marks a big move into California’s market that could be an additional boost for the company’s expansion plans and revenue growth over the coming quarters.
To further increase DehydraTECH awareness and expansion to new customers, Hill Avenue Cannabis recently launched a dedicated website: www.DehydraTECH-THC.com. The site serves as an information hub for B2B THC cannabis-infused product brands and manufacturers, sharing insights about DehydraTECH, its science, and its product applications.
At the same time, the company has made tremendous strides in improving its financial structure by closing a fully-subscribed private placement, reducing accounts receivable, and eliminating some lease liabilities.
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Hill Street Beverage Co. Inc. is a client of CFN Enterprises Inc. Hill Street Beverage Co. Inc. agreed to pay CFN Enterprises Inc. $27,000 beginning on April 4, 2023 for a three month investor awareness campaign.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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