22nd Century Group, Inc. (NYSE:XXII) has just formed a partnership with The University of Virginia to utilize the benefits of hemp by restoring heavily polluted lands in Southwest Virginia through a process known as phytoremediation.
What is Phytoremediation?
Phytoremediation is the process of using living plants to clean up contaminants in soil, mud and water. Hemp plants’ deep and widespread root structures make the plants especially suited for the phytoremediation process. Looking back through history, hemp plants have been used to successfully restore polluted areas following the nuclear meltdowns in Chernobyl and Fukushima.
22nd Century Group Inc. has developed specialty hemp plants that have a rapid growth rate as well as an improved ability to absorb pollutants, making them highly suited for phytoremediation.
How Phytoremediation Works
In Virginia and other areas with a history of mining for coal, vast swaths of land were left destroyed with contaminants. These lands currently sit empty since they are essentially useless until cleaned.
Phytoremediation is quickly becoming a popular option to restore the more than 30,000 sites across the U.S. that have been damaged by mining and other environmentally damaging activities.
Beyond just investigating the benefits to soil, 22nd Century will be researching other ways to monetize the hemp plants used for phytoremediation such as the production of fiber, extracts, oils and more
Beyond 22nd Century’s developments in the hemp world, the company has also pioneered the development of low-nicotine cigarettes. Since determining that many smokers have no interest in quitting despite the health risks, the company has worked to have the FDA create a new class of cigarettes under this framework.
We believe that the intellectual property associated with these low-nicotine tobacco plants is extremely valuable, making 22nd Century an acquisition target for the tobacco giants like Philip Morris International (NYSE:PM), Altria Group (NYSE:MO), and Reynolds American (NYSE:RAI). The intellectual property associated with the industrial hemp plants would just be a bonus for the tobacco companies eyeing the cannabis space.
Learn more about 22nd Century Group, Inc. (NYSE:XXII) by checking out the company’s marijuana stock profile linked above. Also, don’t forget that because 22nd Century is NYSE listed, shares can be traded for free using the Robinhood app. Be sure to subscribe to our daily newsletter so you never miss the news about an important opportunity.