Key Takeaways:
- Fusion Farms signs Letter of Intent (LOI) with i3 Acquisitions for a 54,000 sq. ft. vertical Controlled Environment Aquaponics (CEAq) facility in Cumberland City, Tennessee.
- Fusion Farms previously received investment from the Puerto Rico Opportunity Zone Fund (PROZ) to support food security and sustainability in Puerto Rico.
- Fusion Farms grows non-GMO, nutrient-dense produce using aquaponic systems that require only 10% of the water used in traditional farming methods.
- The Tennessee facility will contribute to food sovereignty in a CDC-designated food desert.
Fusion Farms, a Puerto Rican AgTech company specializing in aquaponic agriculture, has announced plans to establish its first commercial-scale vertical Controlled Environment Aquaponics (CEAq) facility outside of Puerto Rico. The company signed a Letter of Intent (LOI) with i3 Acquisitions, LLC, a leading family office, to develop a 54,000-square-foot facility on a 10-acre property in Cumberland City, Tennessee. This expansion aims to provide sustainable, locally grown produce in a CDC-designated food desert.
Previous Investment and Success in Puerto Rico
In 2021, Fusion Farms received significant investment from the Puerto Rico Opportunity Zone Fund (PROZ), the first private equity firm fund focused on ESG investing in Puerto Rico’s Opportunity Zones. This funding helped Fusion Farms scale its operations in Mayagüez, building modern, hurricane-protected indoor agricultural solutions. The company focuses on growing leafy greens, herbs, and vegetables using aquaponic systems fueled by chemical-free fish and renewable energy sources.
The investment followed the devastation caused by Hurricane Maria, which destroyed 80% of Puerto Rico’s farms. Since then, the island has faced increasing challenges with food access, as over 90% of its food is imported. Fusion Farms has responded to these challenges by providing a local, sustainable food source, significantly reducing the reliance on imported produce.
Scaling Aquaponics to Tennessee
Fusion Farms’ new Tennessee facility will mirror the success of its Puerto Rican operations, utilizing 5,017 square meters of vertical deep-water culture (DWC) grow space. Aquaponic systems combine fish farming with plant cultivation, allowing the facility to produce the equivalent of 35 acres of traditional farming on just ½ an acre. This method significantly reduces water use and the environmental footprint while maximizing production.
Kendell Lang, CEO of Fusion Farms, expressed enthusiasm about the new partnership with i3 Acquisitions, stating, “This collaboration demonstrates the financial feasibility and sustainability of indoor vertical farming, and we are excited to partner with i3 Acquisitions to expand our operations.”
Commitment to Sustainable Food Production
Fusion Farms continues its commitment to sustainability by utilizing rainwater harvesting, water recycling, and plant nutrient optimization. The company grows ultra-clean, non-GMO, nutrient-dense produce without harmful chemicals, making it a leader in sustainable agriculture. The Tennessee facility will produce a variety of leafy greens, herbs, and vegetables, helping to address food insecurity in the region.
Kevin Heaton, Founder and Managing Partner of i3 Acquisitions, noted, “Fusion Farms is a perfect fit for our mission of incorporating United Nations Sustainability Development Goals and efficient new AgTech solutions into our projects.”
Addressing Food Security in Puerto Rico and Beyond
Fusion Farms’ success in Puerto Rico has highlighted the importance of local food production, particularly in areas vulnerable to climate change and economic disruptions. In Puerto Rico, where nearly the entire island qualifies as a Qualified Opportunity Zone (QOZ), investments like those made by the Puerto Rico Opportunity Zone Fund not only provide tax benefits but also contribute to the island’s long-term recovery and food security.
Dr. Anabelle Morales Droz, President and Chief Science Officer at Fusion Farms, stated, “Our aquaponic systems can produce 9-12 times the yield of traditional farming using only 10% of the water. This model is crucial for sustaining food supplies in at-risk communities facing environmental and economic challenges.”
