9th August 2022
Aquaponics Corporate Partnerships

Fusion Farms & i3 Acquisition Sign JV For US Expansion

Fusion Farms & i3 Acquisitions sign JV

The vertical Controlled Environment Aquaponics (CEAq) facility of Fusion Farms will be operated in Cumberland City, Tennessee providing nutritious leafy greens and vegetables.

Fusion Farms announced in a recent press release the signing of a Letter of Intent with a leading family office, i3 Acquisitions, LLC. Beyond creating tools to help foster food sovereignty on the Island of Puerto Rico, Fusion Farms is innovating with pioneering AgTech Solutions that are helping scale indoor vertical farming beyond Puerto Rico into CDC-designated food deserts like Cumberland City, Tennessee. Today, Fusion Farms announced that it is celebrating the signing of its first LOI outside of Puerto Rico for a commercial-scale expansion facility of 54,000 square feet within a 10-acre property currently owned by Houston County, Tennessee.

Fusion Farms, a Puerto Rican company dedicated to sustainable aquaponic agriculture since 2018 has designed and deployed a vertical farming system consisting of a commercial-scale indoor vertical aquaponics grow room consisting of multiple varieties of leafy greens and lettuce, herbs, spices, as well as flowering fruits and vegetables like strawberries, cucumbers, eggplant, and tomatoes, all of which require pollination.

It is exciting for us to have such a high-profile investor and developer who chose to partner with us. They completed a vast amount of due diligence and concluded that we are the operator of choice. — Kendell Lang

This unique, state-of-the-art indoor vertical farm in Mayagüez has been harvesting fresh and nutritious produce using non-traditional farming techniques and has now achieved the commercial-scale deployment of this advanced AgTech Solution. This will further advance the indoor vertical farming industry in an entirely new direction and demonstrate financial feasibility and close-in profitability.

The commercial scale project will have 5,017 square meters under roof of vertical deep-water culture, or DWC grow. Aquaponic farms are a highly efficient agricultural method and can yield and produce the equivalent of as much as 35 acres in only ½ a plot of land of a ½ acre, thereby reducing the environmental footprint while optimizing its production capacity sustainably.

“We are extremely pleased to be adding this important agricultural development within our portfolio of IMPACT investments. Fusion Farms is a great fit for our goal to incorporate as many United Nations Sustainability Development Goals and efficient new AgTech solutions as possible into our project!” said Mr. Kevin Heaton, Founder and Managing Partner of i3 Acquisitions. In recent years, Mr. Heaton’s firm has been active in managing impact investments in a portfolio of assets under management in excess of $500 million.

“At a time when synthetically manufactured fertilizer has quadrupled in pricing, as well as Russia has severely restricted the distribution of their chemical urea fertilizer, the Fusion Farms model of using the natural fertilizer incorporated into the Aquaponics growing system just seems like the natural next-generation farming solution,” said Mr. Heaton.

Kendell Lang, CEO of Fusion Farms said, “it is exciting for the vertical farming industry to have such a high-profile investor and developer choose to partner with us. They completed a vast amount of due diligence, evaluated multiple operators, and ultimately concluded that we are the operator of choice to complement their development goals. We look forward to working on this CEAq facility with i3 Acquisitions in Cumberland City, Tennessee.”

Fusion Farms will continue using climate-controlled environments and sustainable farming methods such as rainwater harvesting, water recycling, and plant nutrient formula optimization. Fusion Farms grows ultra-clean, non-GMO, nutrient-dense greens without the use of harmful sprays or chemicals.

At present, Fusion Farms has a growing portfolio of produce including a wide variety of leafy greens, including lettuces, arugula, and Bok choy, as well as a range of herbs and spices, including mint, basil, watercress, edible flowers, and microgreens. A key differentiator is the Research & Development Fusion Farms has conducted in order to demonstrate the viability of growing flowering fruits and vegetables that require pollination like strawberries, cucumbers, peppers, eggplant and tomatoes.

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