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Joint venture receives financial assistance to develop Quebec vertical farms

Ocean Vert, a Quebec joint venture between Courchesne Larose and INNO-3B, has received $6.8 million in financial assistance from the provincial government to accelerate the development of its vertical farm project.

The financial support includes a $4.7 million loan from the Ministry of Economy and Innovation through Investissement Québec, a $600,000 financial contribution from the Ministry of Agriculture, Fisheries and Food, and a $1.5 million loan guarantee from La Financière agricole du Québec. It will be used to implement two vertical farms for the cultivation of leafy vegetables, a project valued at more than $19 million.

Ocean Vert's vertical farms use a unique technology in agriculture developed by INNO-3B.

“The development of green farms in Quebec is a real social project that we feel strongly about and that meets the expectations of consumers who are placing more and more importance on local products, traceability, freshness, and the price of the food they buy," said Francis Routhier, president of Ocean Vert. 

“After more than 100 years, innovation and sustainable development are still at the heart of our values and decisions," said Denis Pageau, executive vice-president, special projects, of Courchesne Larose, which is certified ECORESPONSIBLE, Level 2 - Performance by Ecocert Canada. “The project is part of our desire to improve access to fruits and vegetables while respecting nature."

“The patented technology we have developed responds to current environmental issues," said Martin Brault, president of INNO-3B. “Our technology will allow us to leverage our two greatest resources in Quebec - clean energy and water - and make it a sustainable solution to climate issues."

Ocean Vert products will be marketed under the MIDI brand in Quebec.

Ocean Vert's vertical farms use a unique technology in agriculture developed by INNO-3B: its modular system offers numerous vertical and horizontal expansion possibilities for maximum space optimization. Automated crop handling reduces equipment and labor requirements. A water-cooled LED lighting system provides crops with light to facilitate photosynthesis and reduces the space between shelves by up to three times compared to conventional methods.

For the first production center located in Saint-Pacôme, the technology will allow a significant reduction of CO2 emissions of about 60 tons per year and water consumption savings of up to 95% compared to field cultivation.

Ocean Vert products will be marketed under the MIDI brand in Quebec. The first products available will be leafy greens: a spring mix, baby spinach, and baby arugula. The products will gradually be added to the shelves over the next few months. Production should reach 650 tons of leafy vegetables annually within a few years.

For more information:
Fernande Bernier
Ocean Vert Inc.
Tel: +1 (514) 609-3370
fernande.bernier@oceanvert.com 


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