November 21, 2024 9:29 am
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Scottsdale CBD firm secures $50M in financing to build facility

A rendering of Integrated CBD LLC’s new manufacturing plant that Integrated CBD is planning to build in Phoenix. / Provided by Integrated CBD / Phoenix Business Journal

Disclosure: Rose Law Group represents Integrated CBD

By Angela Gonzales | Phoenix Business Journal

Scottsdale-based Integrated CBD LLC has raised another $50 million as it grows its organic hemp business in Arizona.

Plans call for using the funding to build a 154,000-square-foot extraction facility and large-scale hemp drying facility as well as to expand into the second planting of this year’s hemp crop on its 10,000-acre farm near Yuma. The western Arizona farm can produce three crops per year.

Since launching in January, Integrated CBD has raised a total of $70 million in debt and equity capital, with $24 million in equity, a $30 million debt facility and other debt totaling $15 million.

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