Khrysos Industries, Inc. a wholly owned subsidiary of Youngevity International, Inc. Reveals State of the Art, Florida Based Hemp Processing and Manufacturing Facility
Youngevity International, Inc. (NASDAQ: YGYI), a multi-channel lifestyle company announced that it has leased 82,000 square feet in Orlando, Florida to house its post processing hemp derived products and finished goods manufacturing facility.
The single use building was the former home of Nephron Pharmaceuticals GMP Certified sterile manufacturing operations. The state-of-the-art facility features a 46,200 sq. ft. production area that includes 5,200 sq. ft. of class C7 sterile capable workspace, power is provided via a redundant utility system for continuous operation with 5000 amp of 480v 3 phase power available throughout the facility. Additionally, the facility contains a high purity reverse osmosis water system, 10,000 sq. ft. of air-conditioned warehouse space, a 1,500 sq. ft secure vault for storing high dollar finished goods and ingredients, and a complete SCADA monitoring system.
“We believe this facility provides us the opportunity to accelerate our post processing and manufacturing capabilities by approximately two years in terms of production output. The amenities and the infrastructure within the facility saves us significant CAPEX expense, and, more importantly, provides us the ability to grow more rapidly to meet market demand.”, said Dwayne Dundore PhD, President of Khrysos. “We are in the process of moving over our post processing equipment and the extensive power systems in this facility allows us to scale as needed. We expect post processing to be up and running in September and we will then set up our finished product manufacturing lines.”
“This facility provides us the opportunity to shift our business plan from multiple processing locations to a centralized processing and manufacturing solution. Additionally, this should resolve the power issues that has become an industry challenge and provides us a significant increase in capacities within our production and manufacturing operations on an accelerated timeline.” said Dave Briskie, President and CFO of YGYI, about its wholly owned subsidiary Khrysos Industries. “Being able to centralize our post processing and manufacturing operations should provide for more efficient and streamlined operations that we expect to drive our ability to service our customers while improving our opportunity to drive our bottom-line profits.”
About Khrysos Industries, Inc.
Khrysos Industries is a leading manufacturer of commercial hemp-based CBD extraction, post processing equipment, and end-to-end processor of CBD isolate, distillate, water soluble Isolate, and water-soluble distillate. Its subsidiary, INX Laboratories provides a broad range of testing services including potency analysis for its supply partners of hemp derived CBD products. Khrysos provides hemp growers, feedstock suppliers, and CBD crude oil producers the use of equipment, intellectual capital, production consultancy, tolling services, and wholesale CBD channel sales capabilities. Khrysos Industries was acquired by Youngevity International (NASDAQ: YGYI) on February 12th, 2019.
YGYI, Inc. (NASDAQ: YGYI), is a leading omni-direct lifestyle company offering a hybrid of the direct selling business model, that also offers e-commerce and the power of social selling. Assembling a virtual Main Street of products and services under one corporate entity YGYI offers products from the eight top-selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, fashion, essential oils, photo, as well as innovative services. The Company was formed in the course of the summer 2011 merger of Youngevity Essential Life Sciences with Javalution® Coffee Company (now part of the company’s food and beverage division). The resulting company became Youngevity International, Inc. in July 2013.
Photo by: Youngevity