Q&A: Functional Remedies’ Poli discusses CBD standards
Functional Remedies, based in Superior, Colo., has built its vertically integrated company over the past five years to include seed development, planting, harvesting and production — all with a focus on quality control of its full-spectrum hemp-based offerings. While many in the category focus on CBD isolate, Functional Remedies has placed its bet on the full-spectrum offering, which includes CBD among various other cannabinoids.
Drug Store News spoke to Functional Remedies’ chief revenue officer, Matt Poli, about the hemp category, the benefits of full-spectrum hemp oil and what sets his company apart.
Drug Store News: What is broad-spectrum hemp oil and how is it different from CBD? Matt Poli: Broad-spectrum hemp oil contains other plant constituents besides CBD. Full-spectrum encapsulates all the constituents from hemp. CBD oil is usually rendered-down hemp oil that removes all the additional phytonutrients that exist beyond CBD.
DSN: What makes Functional Remedies different from the other CBD companies? MP: Our obsession with quality is anchored in our culture. We want to be an example to the industry by creating a standard that builds trust and confidence with our customers. This is realized from our seed genetics (more than two decades of improving hemp strains), state of the art farming and proprietary production process, as well as the dedicated and diverse people in our organization working to improve consumers’ quality of lives through our mission: “Bringing Lives into Balance on a global scale with the highest quality products on earth.”
DSN: What are your products, and how do they provide a unique selling point for retailers? MP: Our current assortment consists of tinctures (250 mg and 500 mg), capsules (25 mg and 50 mg) and topicals, including a 250-mg salve, 250-mg Evening Calm Night Time and a 250-mg roll-on. We also possess two unique selling points. First, we are 100% vertically integrated. We own our seed genetics, plant and harvest on our farm, and produce in our own production lab. We also own and control 100% of the supply chain and make product potency testing results transparent on every batch by posting on our website. Our second point of differentiation is our proprietary infusion process called LipidTrans, which captures the nutrient blend of the whole hemp plant the way nature intended. This provides a much more efficacious product for consumers in comparison to CBD isolate.
DSN: What is Functional Remedies doing to help promote and educate these products to consumers? MP: Consumer education is our No. 1 priority. We are working with several retailer partners in executing consumer education campaigns. Our consumer research has guided us in the specific areas where consumers need education, and we create customized plans that work with each customer based on assets and communication avenues available.
DSN: As the CBD category continues to grow, what do you see happening? MP: The category will likely undergo significant regulatory changes that will affect who’s on shelves and in the marketplace. Expect tight regulations on cultivation and tighter regulations around product processing and formulation.