Pyxus International Inc. announced an agreement with Cornell University to fund research in CBD hemp cultivars and production.

The project will last multiple years and aims to provide farmers and consumers with greater insight into hemp cultivation and production.

“We are eager to learn from Cornell’s expertise and research in the field and are excited that this partnership will eventually be part of an even larger Pyxus initiative with additional partners and resources,” said Bryan Mazur, executive vice president of global specialty products at Pyxus.

At least 47 states have enacted legislation to establish industrial hemp cultivation and production programs, according to the National Conference of State Legislatures.

Shares of Pyxus International Inc. traded at $15.32 on Tuesday, down 41 cents.