La Ferme d’Hiver completes its seed round and secures a large-scale industrial deployment
Investissement Québec, Haystack and Mavrik invest $ 5 million in an agro-technological solutions company
BROSSARD, QC, May 5, 2021 / CNW Telbec / – La Ferme d’Hiver announces that it has completed its seed round which allows it to ensure the development of its technological solution and its industrial deployment. Investissement Québec reiterates its confidence in the company and confirms an investment of $ 2 million from its own funds, in addition to the 1.5 million already committed to support its growth. Two others Montrealthe based investors, Mavrik and Haystack, also decided to jointly inject $ 3 million in the business.
In addition, the government of Quebec subsidies $ 1.7 million in financial assistance to the Winter Farm to support the construction of its first vertical farm on the property of Greenhouses Vaudreuil. This farm, which covers an area of 1,252 m2, is currently being established and producing Winter berry will start in October 2021. Government financial support includes a $ 1.2 million loan issued under the ESSOR program, administered by Investissement Québec for the government of Quebec, and a loan guarantee of $ 500,000 granted by the Financière agricole du Québec (FADQ).
“This seed tour will allow the Winter Farm to accelerate the deployment of its technological solution among Of Quebec fruit and vegetable producers who wish to produce during the winter season. We have already had discussions with many producers in order to conclude partnership agreements“, indicated Alain Brisebois, President and CEO of the Winter Farm.
Financial support from Of Quebec governing bodies
Investissement Québec, the main lever of economic development for the Government of Quebec, is one of the very first partners of the Ferme d’Hiver and is now renewing its commitment to the company.
“We are happy to reiterate our support for the Winter Farm and to contribute to the development of their innovative solution, which responds to agricultural and environmental issues.“, mentionned Guy LeBlanc, President and CEO of Investissement Québec. “In doing so, Investissement Québec fully assumes its role of supporting promising young businesses, developing our regional economies and promoting local production, particularly in the agricultural sector.
“Our government is proud to support the realization of this sustainable and innovative investment project, which will allow local and sustainable agricultural production. Favor local production and the purchase of Quebecyear round products are a great way to help our economic recovery. I salute La Ferme d’Hiver and its producer-partners for their ambition to participate in the expansion of our food self-sufficiency, while also aiming to increase their exports.“, mentionned Lucie Lecours, Economy Minister.
“With this project, the Winter Farm is joining forces Of Quebec collective desire to strengthen its food self-sufficiency by offering quality local market garden products, grown in an ecologically responsible manner. The construction of this vertical farm will also help achieve the objective defined in the greenhouse growth strategy, which aims to double greenhouse production areas by Quebec by 2025», Declared André Lamontagne, Minister of Agriculture, Fisheries and Food and Minister responsible for the Center-du-Québec region.
Thanks to its unique technology, the Winter Farm has succeeded in attracting the interest of strategic investors who believe in Quebec agro-technological solution of the company. Thus, the Winter Farm can count on the support of Haystack and Mavrik, two private investment funds which jointly injected $ 3 million in the company, thus demonstrating the value of the solution proposed by the Quebecbased company.
Haystack is a group of investors based in Montreal, who started to contribute and bet on the growth of several companies active in various sectors Quebec and Asia. “The Ferme d’Hiver team imagined and continues to develop an incredible solution and we are very excited to participate in the expansion of the business. It will lead to a major evolution in the production of off-season fruits and vegetables, in an ecological and profitable way.“, has explained Alexandre Panneton, partner of the group.
Mavrik is a Montrealfamily business that conducts a wide range of investment and financing activities across multiple asset classes. Mavrik focuses on innovation, entrepreneurship and responsible investment. “We love leaders who strive to bring about paradigm shifts in the areas of environmental sustainability, food production, agriculture and social responsibility. It was therefore natural for Mavrik to join forces with the Ferme d’Hiver, an innovative company founded in Quebec“, elaborated Mark Pathy, President and CEO of Mavrik.
A unique technology that enables industrial scale-up
Winter Farm, it’s not only Winter berry production. It is above all the development of a unique solution in the world. This solution, developed in Quebec, is a mixture of technological and agronomic know-how.
Beyond the year-round production of summer fruits and vegetables, the product imagined by the company also saves energy while eliminating greenhouse gas emissions.
“For the future, we really want to create a network of producers able to contribute to our food self-sufficiency and even to create an export market for fresh fruits and vegetables.“, Explain Yves Daoust, Founder and Chief Operating Officer of the Winter Farm. “A winter farm can produce up to 9 times the volume of a square meter of a greenhouse and recover over 80% of the energy consumed to heat an adjacent greenhouse 5 times its size. This combination is the most efficient and cost effective solution to produce a very wide range of fruits and vegetables throughout the year.“
Through its vertical density and climate control, the Winter Farm allows the annual production of more than 160 kilos of strawberries per square meter. Profitability is therefore guaranteed from the first year. Through its partner-producers, the objective is to replace 10% of strawberry imports within three years, and to help improve the profitability of greenhouse production, thus strengthening our food sovereignty.
Although the Serres Vaudreuil facilities are small-scale, this winter farm alone will practically double the volume of strawberries produced in Quebec during the winter.
About the Winter Farm
Combining agronomy, engineering and knowledge of artificial intelligence, the Winter Farm makes the production of low-season foods with high nutritional value grown without chemical pesticides viable. Founded in 2018, the company offers agro-technology that avoids any dependence on climatic conditions, in addition to offering unparalleled energy efficiency. By partnering with local producers, the Ferme d’Hiver aims to build a sustainable agricultural network to feed growing populations with fresh, affordable and tasty fruits and vegetables, while minimizing the environmental impacts of these productions.
SOURCE Winter Farm
For more information: Media contacts: Rose-Marie Ménard, Zone franche, [email protected], (514) 970-2544; Marion Urso, Free Zone, [email protected], (438) 346-4147; Daphné Mailhot, Winter Farm, Marketing and Communication Manager, [email protected], (514) 668-6870