This release contains corrected contact information.
Company Intends to Bring First Functional Mushroom Producer to Retail
LAS VEGAS, NV / ACCESSWIRE / July 19, 2024 / Hypha Labs, Inc. (OTC PINK:DIGP), a pioneer in functional mushroom sciences, is pleased to announce the addition of significant mycological innovations to its current patent portfolio. The expanded patent portfolio now includes several filings with the United States Patent and Trademark Office (USPTO) that seek to protect a series of novel methods and devices designed to revolutionize the extraction of active components from mycelium. These active components include psychedelic, functional and medicinal ingredients such as psilocybin.
Hypha Laboratories is intent on bringing the first fully functional in-home device that will allow a consumer to produce their own mushroom-based ingredients in a grow cycle of less than ten days and with greater potency precision than commonly sold mushrooms and mushroom ingredients. These home grown functional mushroom ingredients would be produced at a fraction of current market prices and in the privacy of a residence using the Company's patent pending elegant bioreactor instead of less desirable substrates such as animal waste.
In 2022, the U.S. market for functional and psychedelic mushrooms reached a valuation of USD $3.6 billion, with anticipated growth at a CAGR of 12.1% from 2023 to 2030. This upward trajectory aligns with the increasing momentum in the United States toward the decriminalization of not only psychedelic mushrooms, but the rapid growth and benefits of functional mushrooms as well.
The pending patents seek to protect the use of sophisticated machine learning algorithms to process mycelium, the vegetative part of fungi composed of an intricate network of hyphae. The Company believes that this has tremendous potential across various sectors including pharmaceuticals, nutraceuticals, and biotechnology. Traditionally, mycelium processing to produce psilocybin has faced challenges due to prolonged cultivation times and the necessity of soil-based mushroom growth over extended durations. To address these issues, Hypha Labs has introduced groundbreaking Artificial Intelligence (AI) with novel machine learning methods that overcome these barriers, providing a more efficient and sustainable way to process mycelium for cultivating, producing and extracting active psilocybin. The integration of advanced machine learning offers significant advantages, including optimized growth conditions, accelerated processing times, enhanced yield predictability, and reduced resource consumption, thus revolutionizing the mycelium industry.
About Hypha Labs, Inc.
The company has developed revolutionary cutting-edge technology focused on new methods of producing the active ingredients found in functional mushrooms such as psilocybin using its patent-pending bioreactor design. The Company has positioned itself to play an important role in the burgeoning Functional Mushroom industry in addition to being a disruptive force in the psilocybin space which is quickly manifesting into a similar pattern that was seen in the Cannabis Industry both from a medical and recreational usage with several states and cities have now decriminalized it use. Visit us at HyphaLabs.com.
SAFE HARBOR FORWARD LOOKING STATEMENTS:
This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected revenue, contracts, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC) and on the OTC Disclosure & News Service (OTCDNS). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC and/or OTCDNS. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and secure construction contracts and the necessary assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC and/or OTCDNS filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business in the construction industry may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time. Words such as "estimate," "project," "predict," "will," "would," "should," "could," "may," "might," "anticipate," "plan," "intend," "believe," "expect," "aim," "goal," "target," "objective," "likely" or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.
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SOURCE: Hypha Laboratories
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