Hemp company Santa Fe Farms has plans to create 60 processing sites to create “hemp-derived” materials for the paper and plastics industries, the firm announced this week.
But it won’t be under the Santa Fe Farms name.
The company, founded in 2019, said in a news release that it was rebranding to element6 Dynamics. In a statement, Santa Fe Farms CEO Kim Kovacs said “our new name elevates our global brand position and mission.”
Representatives for element6 Dynamics were unavailable for an interview Thursday.
The name change represents what the company calls a shift away from putting carbon into the atmosphere to taking carbon out. It seeks to create a carbon-neutral business model for what Kovacs is quoted as calling a “climate-smart commodity.”
Element6 Dynamics was founded in 2019 and offers hemp cultivation and processing. It formerly purchased Colorado-based High Grade Hemp Seed, which followed its acquisition of hemp services firm Fathom NM.
Hemp is a source of CBD and comes from the same plant type as cannabis, which has higher amounts of the mind-altering THC compound. But unlike THC, CBD does not make users inebriated.
“We are creating an industry that will ultimately impact new technologies and products that are grounded in science,” according to a statement from Kovacs.
On that note, element6 Dynamics chief scientist Stuart Cowan previously told Business First that “we intend to be extremely profitable and grow [sic.] quickly — but we’re doing that with a business model that is deliberately restoring the fields, the ecosystems that we’re working with.”