Eden Green Technology Breaks Ground on New Texas Greenhouse, Continues With $12 Million Strategic Expansion
- Futures dip after S&P 500, Dow hit record closing highs
- UK to Intervene on National Security Grounds on NVIDIA (NVDA) and Arm Deal
- GameStop (GME) announces George Sherman will be stepping down as CEO
- Dollar slumps to 6-week low, Bitcoin steadies after weekend drop
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
DALLAS, March 16, 2021 /PRNewswire/ -- Eden Green Technology, a next-generation vertical farming company, today announced that it has broken ground on a new vertical farming greenhouse, next to its R&D greenhouse in the Dallas-Ft Worth Metroplex. Existing investment partners are investing $12 million into Eden Green Technology as part of the development deal.
The new 1.5 acre facility, situated in an opportunity zone in Cleburne, Texas, will produce approximately 500 tons of leafy greens per year for its local offtake partners. Eden Green Technology's greenhouse modules are more sustainable and scalable than other hydroponic vertical farms, low-tech greenhouse formats, and traditional soil-based farming methods. The new facility will rely on 99% sunlight, rather than 100% LED lighting, and recycled water of up to 7,500 gallons a month. Combined with annual water consumption equal to only two households, the facility will produce 11 to 13 harvests per year, compared to 1-2 harvests yielded by traditional farming methods. In all, Eden Green Technology's facility will use 99% less land, and 98% less water, than an equivalent yield on a soil-based farm.
"If the pandemic has taught us anything, it's the need for our communities to work together to make smart, sustainable, and resource-efficient decisions in pursuit of a better future," said Eddy Badrina, CEO of Eden Green Technology. "The fact is that land, water, and energy aren't being used efficiently to produce and distribute our food, and if we want to be responsible shepherds for future generations, we need to embrace solutions that maximize productive yield and profitability using our limited resources. This facility symbolizes a paradigm shift for how capital investment is being leveraged to do the most good where it's needed."
Representing a new model for agribusiness, the investment and new greenhouse bring together capital, labor, and government in addressing local environmental issues and food security. With offtake partners prepared to buy the majority of the new facility's harvest, the greenhouse is slated to be profitable immediately, sustain 30 year-round, full-time essential jobs, and demonstrate the economic, environmental, and resource-use potential of smart vertical greenhouses.
Scalable to any 1.5-acre footprint in almost any climate, the Cleburne facility is an example of Eden Green Technology's turnkey platform. These greenhouses, with their patented vertical farming technology, are available to retailers and food distributors, entrepreneur-led investor groups, nation states and municipalities, and philanthropic ventures and foundations. Because of the flexibility and quick construction of its location-agnostic greenhouse platforms, Eden Green Technology's greenhouses can drastically cut down transportation costs and food waste, with farm-to-shelf time counted in days, not weeks. The company's plans include partnering with companies and organizations not only in Texas, but also in other domestic and international locations. The company projects that there will be more than 20 greenhouses around the world by 2024.
About Eden Green TechnologyEden Green Technology, a Dallas-Fort Worth-based privately held company, is revolutionizing agriculture at a time when accessibility to safe, healthy and affordable fresh food is urgently needed. Eden Green Technology offers a Greenhouse-as-a-Service model, helping businesses vertically integrate, cities become food secure, and regions around the world combat commodity dependence. The company's proprietary "micro-climate" technology and hydroponic vine systems are modular, so that clients can build their greenhouse and celebrate their first harvest in less than a year. By shortening the food supply chain with local and sustainable solutions, the company's goal is to eliminate the problem of fresh food accessibility for every family no matter their economic situation.
View original content to download multimedia:http://www.prnewswire.com/news-releases/eden-green-technology-breaks-ground-on-new-texas-greenhouse-continues-with-12-million-strategic-expansion-301247008.html
SOURCE Eden Green Technology
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Freshly Inc. To Expand New Jersey Operations with Second Distribution Facility
- Virtana Achieves 63% Sales Growth in Q1 2021 Over Q1 2020; Exceeds Sales Goals Two Quarters in a Row
- The IDEAL School Of Manhattan Launches New Independent Scholarship Program For Kindergarten Through 8th Grade