Village Farms acquires Maxim Power (B.C.) Inc. in multi-million-dollar deal
Canada: Ladner greenhouse generating electricity
Village Farms International announced last week it has closed on its previously announced acquisition of Maxim Power (B.C.) Inc., a wholly-owned subsidiary of Maxim Power Corp., for approximately $5.2 million. The new name of the acquired company will be VF Clean Energy Inc.
Maxim Power developed and operates a co-generation facility adjacent to Village Farms, using methane gas from the Vancouver Landfill to generate electricity for B.C. Hydro and thermal heat for the greenhouse. The co-generation facility, which has been in operation since 2004, will continue to produce electricity under an existing long-term agreement with B.C. Hydro as well as generate thermal heat for the greenhouse.
"This acquisition is in keeping with the company's strong mission of sustainability in farming and growing in a responsible manner," Michael A. DeGiglio, president and CEO of Village Farms, said when the sale was initially announced.
"In the short term, we believe enhancements to the co-gen facility will result in more electric generation as well as increased thermal heat for our own facilities. This will increase our ability to further reduce our use of natural gas and decrease our carbon footprint. In the longer term, working with strong partners, we plan to receive clean carbon dioxide from the cogeneration facility."
Click here to read the complete article at www.delta-optimist.com/news/ladner-greenhouse-generating-electricity-1.1303188#sthash.HcSj7yu5.dpuf
