FRESHBAY ANNOUNCES DEFINITIVE AGREEMENT WITH NOVUS EARTH FOR GEOTHERMAL CONTROLLED ENVIRONMENT AGRICULTURE PROJECT OUTSIDE OF HINTON, ALBERTA
CALGARY, AB, July 7, 2023 /CNW/ - Freshbay, a pioneering agriculture company focused on sustainable and locally sourced food production, is excited to announce the signing of a definitive agreement with Novus Earth for their Geothermal Controlled Environment Agriculture project outside of Hinton, Alberta. The $29,000,000 CAD agreement demonstrates a portion of the major investment Freshbay, in partnership with Novus Earth, is providing in the area, creating a new economic driver for the Yellowhead region. This follows the successful signing of a definitive agreement with Affinor Growers two weeks ago, marking a major milestone for the project.
Novus Earth is an Alberta-based market-leading sustainable renewable energy solutions corporation that harnesses geothermal heat and power through their proprietary closed-loop system. Leading the development of geothermal energy in Canada, Novus Earth is building a vision of a more sustainable energy future through the development and implementation of decarbonized technologies that enable sustainable stewardship of the Earth's resources.
Located in Yellowhead County, the heart of Alberta, Freshbay is excited to embark on its first venture in a province known for its favorable business environment. The choice of the Hinton area as the project site reflects Freshbay's confidence in the region's potential for growth and its commitment to fostering innovative agricultural practices within Canada.
The collaboration between Freshbay, Affinor Growers, and Novus Earth, is the marriage of closed loop geothermal energy, advanced vertical farming, and immaculate and sustainable operational practices, establishing a niche in the emerging field of GeoCEA (Geothermal Controlled Environment Agriculture).
With the definitive agreements in place, Freshbay is set to construct a cutting-edge geothermal-heated, cogeneration powered, agriculture facility, spanning approximately 864,000 square feet. The facility will feature state-of-the-art vertical farming systems, leveraging Novus Earth's geothermal energy solutions to provide a sustainable and reliable source of heat and power.
"The geothermal component is the heartbeat of this project and we are thrilled to have secured the partnership with Novus Earth, and to utilize their patented closed loop geothermal technology," said Vic Reddy, Founder and CEO of Freshbay Inc. "With their expertise and commitment to sustainable energy solutions, we are confident in our ability to create a groundbreaking facility that will redefine the GeoCEA industry."
The project will initially focus on cultivating the world-renowned Affinoria Fragaria strawberries, known for their exceptional flavor, quality, and aesthetics. Freshbay's deep knowledge of cultivation techniques and operational experience, and Affinor Growers vertical farming technology, combined with Novus Earth's closed loop geothermal technology, will enable the production of premium strawberries year-round.
"We are excited to collaborate with Freshbay on this forward-thinking geothermal agriculture project," said Jeff Messner, President and Co-founder of Novus Earth. "By harnessing the power of geothermal energy, we are not only revolutionizing indoor farming but also driving sustainability in the agriculture sector. We look forward to the positive impact this GeoCEA project will have on the industry and the local community."
The partnership between Freshbay, Affinor Growers, and Novus Earth exemplifies their shared vision of creating a more sustainable and resilient food system. By leveraging geothermal energy and advanced farming techniques, they aim to address the increasing demand for locally sourced and nutritious produce while minimizing environmental impact.
Construction of the GeoCEA facility is expected to commence in the later half of 2023, with plans for full operation by Summer 2024. Freshbay looks forward to delivering on its commitment to providing fresh, high-quality, and sustainable produce to consumers.
About Freshbay
Freshbay is a leading agriculture company focused on sustainable and locally sourced food production. With a strong commitment to innovation and environmental stewardship, Freshbay utilizes geothermal energy and advanced farming techniques to cultivate high-quality produce, including the world renowned Affinoria Fragaria strawberries.
For more information on Freshbay Inc., please visit freshbay.ca or contact Freshbay at [email protected]
About Novus Earth
Novus Earth is a recognized leader in geothermal energy solutions, providing sustainable and efficient solutions for various industries. Their expertise in geothermal technology and commitment to environmental sustainability make them an ideal partner for the Freshbay geothermal agriculture project.
SOURCE Freshbay Inc.
For more information on Novus Earth, please visit novusearth.ca or contact Novus Earth CAO Emily Olsen at [email protected].
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