Houweling’s Group and Equilibrium Announce Partnership to Fuel Growth and Expansion
CAMARILLO, CA - Houweling’s Group is putting the pedal to the metal to accelerate growth in 2019. The greenhouse grower is teaming up with sustainability investment firm Equilibrium to modernize its existing facilities in California and expand its production capacity at its Utah facility.
“We had been seeking a strategic equity partner for the past few years, recognizing the need for outside capital to react to growing customer demand for fresh, safe, and 365 day-a-year production,” said Kevin Doran, Houweling’s President and CEO. “By partnering with Equilibrium, who bring a deep understanding of the greenhouse and agriculture sectors, we expect to unlock the full potential of our company.”
In a press release, Doran outlined that thanks to Houweling’s partnership with Equilibrium, the company is able to provide further economic development for its neighboring communities. As a result, this will help the company expand its greenhouse’s locally-grown product mix that's available to Houweling’s customers.
“The waste heat and CO2 from the adjacent power plant is sufficient to support a greenhouse twice the size of what we have now” Doran said. “With Equilibrium, we can realize the economies of scale from a second 30-acre phase, planned to commence construction in 2019.”
Equilibrium’s Chairman Dave Chen added, “[Houweling’s] state-of-the-art greenhouse in Utah captures waste heat and CO2 from the neighboring power plant, reducing the amount of fossil fuels consumed compared to a traditional greenhouse operation, and recycling CO2 that would otherwise enter the atmosphere. This is exactly the kind of economic and sustainability impact we look for in our strategies.”
Chen noted that Equilibrium was first drawn to Houweling’s because of its sustainability innovations and efforts to create operational advantages and reduce environmental/climate action impact.
“We see a tremendous opportunity in the future of controlled environment agriculture and foods,” said Chen. “By partnering with top high-tech greenhouse operators, such as the Houweling’s Group, we plan to grow with the demand in the sector. We have spent the last few years getting to know the management team. We are impressed with the strength of their direct-to-retail business and brand they have built over the last 20 years in the United States.”
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