Governor Matt Bevin announced Tuesday the nation’s first HempWood® manufacturing operation will be locating in Calloway County.
Bevin says Fibonacci LLC will make a more than $5.8 million investment and create 25-full time jobs. Fibonacci will lease an 11,230 square-foot facility in Murray for its first manufacturing location with plans to establish a world-class, automated HempWood operation.
Officials say the company located in Murray after its leaders established a relationship with Murray State University, and 800 tons of hemp stalks have already been contracted through growers in western Kentucky.
Owner of Fibonacci, Greg Wilson formed the company in March 2018 following thirteen years of experience, research, and development in the wood products industry. Wilson co-owns SmartOak which creates engineered wood products using logs that would otherwise be converted to wood chips. Fibonacci uses technology popularized by China’s strand-woven bamboo industry, in addition to SmartOak technology, which originated in Australia.
HempWood — with its patented process and product made from hemp fibers and soy-based adhesives — has been in development for the past decade and is viewed to have a number of advantages over transitional oak hardwood. Wilson said processed hemp can reach 20 percent higher density than oak, which provides sustainability and hardness. HempWood can be used in products ranging from flooring to furniture to woodworking projects and culinary serving boards.
Bevin says the commonwealth’s burgeoning hemp industry is quickly gaining national attention, and this exciting project will significantly intensify that spotlight.
Production at the Calloway County facility is expected to begin this summer.
