SEATTLE, WA /OTC MKTS/ November 2, 2021 /
Due to several inquiries from shareholders reaching out about Renewal Fuels Inc. (OTC PINK: RNWF) recent press release from October 28, 2021. Below are some informational points to help provide further clarification:
1. How were the Financials of Sunshine Hemp calculated?
• The cotton price hit $1.15 on Friday, 10/29/21. With a 2.5x multiplier, it puts hemp fiber wholesale price at $2.85/lb. Sunshine Hemp expects to manufacture 3025 tons per year, which translates to an estimated 6,050,000 lbs. of hemp fiber in the first year, with an estimated value of $17.25 million dollars in revenue, fluctuating with cotton commodity prices.
• The conservative revenue from Sunshine Hemp’s “Hemp Innovation Processing center” in the first year of production is expected to be $20,000,000 gross revenue including the by-products. In the second year, they are expected to double this to $40M. With increased demand, Sunshine Hemp has the capacity to increase production with additional shifts and crops.
2. What about the by-products created by processing hemp?
• Sunshine Hemp will be producing several by-products like hemp seed oil, hemp-based protein, hemp-based baby formula etc. to use the whole plant, which will generate additional revenue.
• Hempcrete blocks for sidewalk construction will be manufactured to sequester carbon, which will allow Sunshine Hemp to earn carbon sequestration credits.
• The gasification process to reduce hemp hurd to carbon for sequestration, will also generate heat/gas which will be used to power generators on-site or sold back to the grid.
3. What is the grant timeline for Sunshine Hemp?
• Phase one grant application was submitted on 10/19/21, for research, planning, equipment, and site selection. This is expected to be announced in mid-December 2021, with money in hand in January 2022.
• Phase two grant application will be submitted in Q1 2022 for $9.25M out of a total package of $75M.
About Renewal Fuels Inc.
Renewal Fuels Inc. (OTC PINK: RNWF) is a Delaware-registered publicly traded company.
Renewal Fuels is a diversified business enterprise focused on providing valuable products and services to consumers and businesses in dynamic and emerging sectors. Through our subsidiaries and business sections, we provide financial and management advisory services, and financial technology services to customers in a variety of industries including the legal psilocybin, hemp, and cannabis industry.
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About Sunshine Hemp Inc.
Located in Tallahassee, Florida, Sunshine Hemp was the first industrial hemp research company licensed by state authorities in Florida to research, produce and sell approved hemp genetics seeds and seedlings for growing in Florida. In partnership with Florida A&M University, Sunshine Hemp has been marketing and selling its state-authorized CBD and CBG “Pilot Project Approved Hemp” seeds and seedlings to the over 850 hemp growers across the state. Forward-looking Statements This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs, and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-k, our quarterly reports on Form 10-Q, and other periodic reports filed from time to time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
SOURCE: Renewal Fuels, Inc.