Delta Agriculture chief operating officer Nick Strawn , chairman John Paul Merritt and chief executive officer George Overbey are shown at the Delta Agriculture offices in Dallas on Dec. 22.March 2020 is seen as one of the unluckiest times to have launched a business as the COVID-19 pandemic crippled entire industries practically overnight.Hemp is a cannabis sativa plant containing 0.3% or less THC, the compound that produces a high in marijuana.
“The land-based production of it. The yield is on a per-unit basis, like crude oil. And it had a bunch of revenue streams that could be pulled off of it,” Strawn said. He previously incubated two cannabis companies with the support of Pony Oil.2019 brought a particular overzealous hemp season. From 2018 to 2019, total acreage of hemp planted nationwide jumped from about 32,000 acres to more than 146,000 acres, according to the.
“We focused on a part of the supply chain that no one else really has,” said Overbey, who’s a former co-founder and chief operating officer of Pony Oil, where he led the deployment of over $1 billion of capital into the energy industry.