NEODESHA, Kan., Nov. 07, 2019 — Barrett Mooney, Chief Executive Officer of AgEagle Aerial Systems Inc. (NYSE American: UAVS), an industry leading provider of advanced aerial imagery and data collection and analytics solutions, today formally commented on the recent publication of the interim final rule establishing the U.S. Department of Agriculture (USDA) Domestic Hemp Production Program in accordance with the 2018 Farm Bill; and emphasized the impact this may have on demand for AgEagle’s HempOverview Software-as-a-Service (SaaS) solution. Mooney said:
“The USDA’s publication of the interim final rule represents a defining moment in the emergence of industrial hemp production in our country and marks a critical step forward in returning hemp to its former status as a major U.S. crop on the global stage. Effective October 31, 2019, the interim final rule will allow the USDA to use the 2020 growing season as a chance to test drive the rule, helping to guide any adjustments that are made in the final rule, which will be published in two years. Moreover, with the publication, states and tribes may not prohibit the interstate transportation or shipment of hemp that is lawfully produced under an approved state or tribal plan, a USDA issued license or the 2014 Farm Bill.
“In brief, states and tribal plans for managing hemp production in their regions must include procedures for tracking the land where hemp is grown; procedures for testing using post-decarboxylation or similarly reliable methods for determining THC levels – which must remain under 0.3%; procedures for disposing of non-compliant plants; procedures for handling compliance violations and scheduled inspections of farms; procedures for sharing information; and for certifying that the state or tribe has the available resources to effectively manage their plans.
“With AgEagle’s introduction of HempOverview, we have essentially created a secure, scalable solution for managing a highly efficient hemp farm registration process that both improves interagency communication and defines and helps to maintain best industry practices for governmental oversight, compliance and reporting requirements in the dynamic regulatory landscape. At this juncture, we know of no other SaaS solution on the market that provides the multi-faceted level of support and services as HempOverview for state and tribal hemp program administrators, processors and growers. As such, we intend to aggressively pursue opportunities with industry players in those states and tribal lands which have indicated their intentions to implement state hemp production programs.
“We have little doubt that HempOverview will ultimately become the preferred technology solution for states and tribes which desire to effectively and efficiently manage the regulatory complexities of this emerging multi-billion dollar industry,” concluded Mooney.
To learn more about AgEagle’s HempOverview solution, please visit https://www.ageagle.com/analytics for more information.
About AgEagle Aerial Systems, Inc.
Founded in 2010 and based in Neodesha, Kansas, AgEagle has earned distinction as one of the industry’s leading pioneers of technologically advanced aerial imagery-based data collection and analytics solutions. We are trusted to help the world’s growers, consumer packaged goods companies and their supply chain partners, and urban green managers proactively assess and manage the health of commercial crops and green infrastructure, reduce the chemicals in produced foods and products and preserve and protect natural resources. In addition, we are at the leading edge of providing state and territorial departments of agriculture, growers and processors with registration, oversight, compliance/enforcement, and reporting solutions relating to the United States’ emerging hemp cultivation industry. For more information, please visit www.ageagle.com.
Gateway Investor Relations Cody SlachSean MansouriPhone: 949-574-3860Email: UAVS@gatewayIR.com
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