What We’re Reading —

Posted on October 21, 2021 by Joel Whitaker

Cannabis use and heart attack – is there a connection?

Short answer, there appears to be.  A recent study finds 1.3% of the cannabis users in the study reported a history of heart attacks, compared to 0.8% of non-users in the study.4  According to the study, “The magnitude of this association increased among more frequent users of cannabis.” Also: 76.3% of cannabis users in the study consumed cannabis through smoking, and smoking can impact lung health, and in turn, potentially have effects on the cardiovascular system. (Medical News Bulletin)

French Wine Attracts Younger US Men

(wine-searcher)

Posted in What We're Reading | Tagged , | Comments Off on What We’re Reading —

Vineyard Sales Lifts Schied Revenue 12.4%, Reversing Loss

Posted on October 20, 2021 by Joel Whitaker

Schied Vineyards reports a profit of $12.58 million , or $14.04 a share, in the first six months, reversing a year-earlier loss of $4.57 million.  Revenue totaled $17.96 million.

Much of the profit was attributed to the sale of vineyard properties which produced a profit of $23.8 million.  The sale reduced interest expense 26% to $1.7 million from $2.3 million.

Cased goods sales increased 32% in the current period, primarily as the result of sales of the Company’s Sunny with a Chance of Flowers brand, which was launched in the fall of 2020, and sales to airlines which were limited in the previous year due to COVID-19 travel restrictions, Mike Thomsen, chief financial officer, said. Bulk wine sales decreased 52% from the previous year as the Company continues to increase the use of bulk wine inventories in its own cased goods production. Overall, total revenues increased 12% from the previous fiscal year.  Sales and marketing expenses increased 21%, from $4.2 to $5.1 million, as the Company invested in the marketing of new brands and territories.

Scott Scheid, president/CEO said, “The 2021 grape harvest began in late August and is expected to be completed in the third week of November.  This timing is delayed by approximately two weeks from a normal harvest season for wine grape vineyards on the Central Coast of California, due primarily to a cooler than normal growing season. We are currently approximately two-thirds completed with harvest and yields appear to be trending at average levels for most varieties.”

 

Posted in Finance | Tagged | Comments Off on Vineyard Sales Lifts Schied Revenue 12.4%, Reversing Loss

California’s Driest Year Since 1924

Posted on October 20, 2021 by Joel Whitaker

Only in 1924 was the less water from precipitation and water runoff than int he period Oct. 1 through Sept. 30, the California Department of Water Resources said.

Much of California is experiencing extreme or exceptional drought, and the department said, “Extreme conditions that once were rare are occurring with increased frequency. California’s climate is transitioning to a warmer setting in which historical relationships among temperature, precipitation, and runoff are changing.”

To add to concerns, La Nina is expected to persist this winter.  la Nina is a weather condition that produces driver and warmer weather in parts of the U.S.

Posted in Sustainability | Tagged , | Comments Off on California’s Driest Year Since 1924

Trefethen Pilots Carbon Capture Technology

Posted on October 20, 2021 by Joel Whitaker

Trefethen Family Vineyards and Earthly Labs today announced a pilot project focused on capturing carbon dioxide emitted from the winery’s fermentations. Trefethen is the first winery to install Earthly Labs CiCi carbon capture technology and the two companies hope the technology, put in place for this year’s harvest, will eventually help more wineries reduce their carbon footprints.

Carbon dioxide is a natural by-product of fermentation and the CiCi technology captures the gas, purifies it, and
stores it as a liquid, which can then be reused in various industrial applications.

Although the carbon dioxide captured during fermentation is not coming from fossil fuels, it acts the same way in the atmosphere. Hailey Trefethen, who leads sustainability programs for her family’s winery commented, “this is a natural extension of our commitment to land stewardship and environmental responsibility. With this technology we are gaining ground in reducing global emissions and the related impacts of climate change. We are making great strides this harvest season and hope the practice will be widely adopted in the future.” Trefethen is certified Napa Green, Certified California Sustainable, and a member of The Porto Protocol, a global consortium of wineries focused on climate change.

The approach developed by Earthly Labs expands on the proven CiCi carbon capture platform, adding new ways to process and scrub CO2 in a winery setting. The size of a large refrigerator, the CiCi system is installed alongside the Trefethen fermentation tanks.

“New climate solutions are needed urgently, but they only work when leaders like Trefethen are willing to pioneer new innovations,” said Earthly Labs CEO Amy George. “We are thrilled to partner with Trefethen to advance climate science and showcase what one winery can do to inspire others.”

Posted in Sustainability | Tagged , | Comments Off on Trefethen Pilots Carbon Capture Technology

Boxt Raises $9.35 Million to Expand Its Luxury Wine Offerings

Posted on October 20, 2021 by Joel Whitaker

Boxt, a female-founded, direct-to-consumer, membership-based subscription service winery, said it raised $9.35 million in equity and debt funding to drive the continued expansion of its luxury brand of fine wine offerings.

The round was led by Next Coast Ventures and joined by privately owned WX Brands, venture debt partner Silicon Valley Bank and multiple private individual investors.

“Sarah (Puil)was our Entrepreneur in Residence at Next Coast Ventures,” said Mike Smerklo, co-founder and managing director of Next Coast Ventures. “When she first brought the idea to me, my immediate reaction was, ‘No more new ideas. This is the one.’ Since that time it has been amazing to watch the team at BOXT take this vision and turn it into a rapidly growing business that provides an amazing customer experience each and every month”.

Posted in Finance | Tagged , , , | Comments Off on Boxt Raises $9.35 Million to Expand Its Luxury Wine Offerings

Avaline Intros 1st California Wine

Posted on October 20, 2021 by Joel Whitaker

The limited-edition Pinot Noir is available exclusively on Avaline’s website, and joins Avaline’s Red Blend in the brand’s portfolio of six wines. All Avaline wines are made with organic grapes, vegan-friendly, contain under 1g of sugar and are free of unwanted extras like colors and concentrates.

This small batch Pinot Noir (SRP $26), is a light-bodied wine offering notes of roasted strawberries and wild plum. A versatile wine, Avaline Pinot Noir makes a particularly perfect pairing with fall’s fading sunlight, your favorite song and a big bowl of pesto pasta.

Avaline Pinot Noir is produced by Porter Creek Vineyards, a CCOF certified vineyard and biodynamic Demeter certified, family-run winery in the Russian River Valley of Sonoma County.  Porter Creek shares many of Avaline’s values, like organic farming, low intervention winemaking and the use of indigenous or natural yeast.  Winemaker Alex Davis believes in the “traditional old world” style of making wine.

Posted in New Products | Tagged | Comments Off on Avaline Intros 1st California Wine