Last updated on October 22nd, 2019 at 08:46 am
Charlotte’s Web Holdings Inc., a Boulder, Colorado-based company whose business is hemp CBD extract products, has signed a lease on a newly constructed 136,610-s.f. industrial building located at 700 Tech Court in the Colorado Technology Center in Louisville, Colorado.
The new location enables the company to prepare for production, distribution and R&D expansion to meet increasing demand from consumer and national retailer channels. Charlotte’s Web will begin a staged buildout of the facility during the third quarter of this year to align with product demand growth. The company says this facility will add cumulatively to the company’s existing locations in and around the Boulder area. Along with distribution and R&D, the large GMP-grade building will encompass the company’s new manufacturing operations, substantially adding to the capacity of its current 40,000-s.f. footprint. The lease agreement includes further expansion options into adjacent buildings to be constructed as necessary to accommodate future growth.
“This is a time of rapid growth and transformation for Charlotte’s Web and these new facilities are necessary to support the production, warehousing and distribution of our growing product lines and volumes,” says Stephen Lermer, COO of Charlotte’s Web. “Production and inventory growth have been dramatic this year following the company’s record 675,000-pound hemp harvest during 2018, which was more than 10 times larger than 2017. Our capacity build is required to support sales forecasts as multiple national retailers continue to roll out Charlotte’s Web products. As we have increased acres planted by 187 percent for the 2019 season, we will make quick use of the expanded facilities as we initiate operations early next year.”
“Many of the extraction technologies employed in our sector are decades old. In our new facility, we will be incorporating the latest in extraction and post-processing refinement technology that enables differentiated end-products with unique characteristics,” according to Lermer. “Our expanded R&D focus in this facility will also lead us to future innovation that will ensure we remain the leader in production technology. Strategically, Louisville is a prime location for us midway between our current Boulder and Denver operations. Additionally, this gives us access to a wider aggregate region from which we can source top employee talent. We look forward to contributing to the growth, economy and families of Louisville and the surrounding communities as we continue to grow.”
In keeping with the company’s dedication to sustainability and responsible agriculture practices, the environmental impact of the new facility was a key consideration from inception. The facility is targeting 30 percent energy cost savings, 35 percent reduction in potable water use, 20 percent recycled content in building materials, 20 percent of building materials from regional sources and 50 percent of construction waste diverted from landfill.