EcoGen Laboratories, a Grand Junction, Colo.-based vertically-integrated manufacturer and supplier of hemp-derived specialty ingredients, proprietary formulations, and private-label finished products in the United States, closed a $40m private placement.
The company intends to use the funds to further grow and expand its business.
Founded in 2016 by Alexis Korybut and Joseph Nunez, EcoGen Laboratories is a vertically-integrated manufacturer and supplier of hemp-derived specialty ingredients in North America. Using proprietary equipment, processes, and formulations, the company has developed a broad range of the highest quality ingredients and customized formulations for a broad range of industries. EcoGen is also a leader in international distribution with CBD isolate, water-soluble CBD (Nano), and THC-free CBD distillate.
Since inception, the company has expanded rapidly, resulting in growth that exceeded $80 million in revenue for 2019.