NORTH CAROLINA – Renaissance Fiber has secured US$2.24m in financing for its first commercial-scale hemp processing facility in Mocksville, North Carolina. The facility is designed to process at least 600 lb of refined fibre an hour, with production due to begin after construction is completed.
The package comprises US$2m in Small Business Administration-backed financing, a US$100,000 low-interest loan from the Fibers Fund and a US$139,000 zero-interest recoverable loan from Invest Appalachia.
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