Halcyon Thruput, LLC to Open in Hopkinsville, Kentucky Qualified Opportunity Zone
Updated: Jul 13, 2019
FORT WORTH, TX – JUNE 25TH, 2019
Contact
OZ Capital, LLC
Halcyon Thruput, LLC
Zeb Reicher
OZ Capital, LLC (“OZ Capital”) is pleased to announce its initial Qualified Opportunity Zone investment in Halcyon Thruput, LLC (“Halcyon”). Halcyon, located in Hopkinsville, KY is a post-harvest, mid-stream drying and processing facility for the hemp crop. The business expects bring up to forty jobs to the Hopkinsville community, and provide essential agricultural infrastructure that will support the needs of local and regional farmers throughout Southwest Kentucky and Northern Tennessee.
"We are glad Halcyon Thruput has decided to locate in Hopkinsville/Christian County to conduct their hemp business,” said Mark Lindsey of the Southwestern Kentucky Economic Development Council. “we are excited to partner with them and help any way possible to succeed in our community!"
The 48,000 sq. ft. facility was purchased in May 2019 by OZ Capital, LLC, an Opportunity Zone investment firm based in Fort Worth, TX. “We are extremely excited about our close partnership with the Superior Farms network, independent farmers and their families. The people we are working with are among the most skilled, knowledgeable and experienced agricultural professionals in the US,” said Watt Stephens, Managing Partner of OZ Capital. “Combine our partners’ know-how with the growing demand and myriad applications for hemp, and we feel we have the critical components for success,” Stephens added. “The Opportunity Zone qualification makes it an even more attractive investment, and one that fully encompasses the spirit of the legislation.”
Halycon was founded as a result of growing demand for post-harvest drying infrastructure in the region. The newly developed technology will be able to accept whole-plant, green material coming directly out of the field and mechanically dry it to a sub-10% moisture content, while also removing the stalks and stems. Halcyon will have a total throughput of approximately 50,000 pounds of wet plant material per hour, and the end-product will result in a standardized, 12%-plus CBD biomass that is packaged and ready to ship to extractors.
Wayne Jackson, head of the Superior Farms network, is a second year hemp farmer who has been growing tobacco for over 50 years around Clarksville, TN. "Hemp is such a fantastic opportunity for the agricultural community, and the ability we have as a network to help farms in the region succeed in 2019 is huge," said Wayne. "Our goal, together with Halcyon Thruput, is to furnish the highest grade CBD biomass in 2019 and to set the standard for the future of this new commodity. We are thankful for the support we have received from the current administration in regards to the passage of the Opportunity Zone legislation and the 2018 Farm Bill which have allowed for all of this to come together!"
The Halcyon Thruput facility is currently undergoing upgrades that will greatly increase the efficiency and capacity during harvest. “We are putting significant investment into the equipment, personnel and management team in order to maximize Halycon’s throughput volume and scalability,” Stephens said. “The investment will ensure Halcyon is able to serve both the Hopkinsville community, as well as the greater Southwest Kentucky community throughout harvest.” The upgrades are scheduled to be completed by the middle of August, in time for the 2019 harvest.
About OZ Capital, LLC
OZ Capital, headquartered in Fort Worth, TX was founded in 2018. Its mission is to invest in Qualified Opportunity Zone businesses that create jobs, provide infrastructure and enhance communities across the Southeast. Qualified Opportunity Zones were introduced as part of the 2018 Tax Cuts and Jobs Act to incentivize private investment in over 8,700 designated communities across the US including 144 in Kentucky.
Halcyon Thruput is centrally located in the Hopkinsville, KY Industrial Park, a Qualified Opportunity Zone.