US (NY): 40 Acre greenhouse project takes another step

Point Positive Inc., the investing and mentoring group of business leaders in the Greater Adirondacks, has made an early-stage investment in Confluent Energies Inc.

The controlled-environment agriculture operation seeks to establish its first greenhouse facility in St. Lawrence County to build economic opportunity and stimulate job growth.

CEI is proposing use of the growing technique to grow year-round, fresh produce that would be delivered within 24 hours of harvest from greenhouses that will cover 40 acres in Massena.

In July 2017, Confluent Energies made its formal pitch to the Point Positive members, resulting in the process moving to the due-diligence phase.

Subsequent meetings between Point Positive and the company resulted in the early-stage investment by members to help further CEI’s business plans in northern New York.

While they have looked at other locations for the controlled-environment agriculture operation, CEI’s three founders, Robert MacArthur, Dennis Bunnell and Andrew Rice, have ties to the region and are familiar with the attributes that support business growth: affordable electricity, clean water, skilled workforce, a location within a day’s drive of over 100 million consumers and a supportive business environment.

Source: Press-Republican 

Publication date:

Receive the daily newsletter in your email for free | Click here

Other news in this sector:

© 2019

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber