Rising Interest in Indoor Farming and ESG Factors Portend Market Opportunities for Correlate Infrastructure Partners Inc. (CIPI) Partnership with CEA Lighting Experts

October 11, 2022 09:35:00
  • Correlate Infrastructure Partners Inc. is a provider of environmentally friendly utilities use optimization solutions, utilizing proprietary data-driven analytics and industry expertise to improve outcomes
  • CIPI recently formed a partnership with Ultra Yield Solutions (“UYS”) to support clients in the controlled environment agriculture (“CEA”) industry, such as vertical indoor growers
  • Under the agreement, UYS will focus on cost-efficient LED lighting solutions while CIPI will deliver renewable energy options and financing opportunities to help make the indoor farming operation even more sustainable
  • The global indoor farming market size is expected to reach $44.3 billion this year before growing to $122.3 billion by 2030 at a CAGR of 13.5 percent, with vertical farming comprising the fastest growing segment

Last month, the world’s largest indoor vertical farming operation opened in Pennsylvania with a 140,000-square-foot facility promising about 160 jobs and seven-day-a-week production (https://ibn.fm/AKwG3). The facility is likely to be a harbinger for the growth of indoor vertical farming practices, a subset of the farming technology-driven controlled environment agriculture (“CEA”) industry (https://ibn.fm/77Omd). A competing California company is already planning a larger facility in Virginia (https://ibn.fm/1SM6d).

Indoor vertical farming favors leafy green horticulture, one reason it is seen as the modus operandi of the home industry for cannabis where personal use cultivation is legal, as well as the majority of commercial operations (https://ibn.fm/tjaQE). Regardless of the type of agriculture being cultivated, indoor operations are dependent on efficient light strategies to ensure success in a contained environment. 

Correlate Infrastructure Partners (OTCQB: CIPI) is a Louisiana-based clean energy solutions innovator dedicated to helping commercial operations effectively manage their utilities usage, both for the sake of their financial sheets as well as the resulting benefit to the global environment amid rising concerns about climate change. 

The company, also known as CIPI for short, recently announced an agreement with CEA lighting distributor Ultra Yield Solutions (“UYS”) to cooperatively sustain clients who need professional indoor farming lighting design, with UYS focusing on LED solutions and CIPI responding with renewable energy and financing solutions.

“We are excited to see this partnership transform the CEA space by dramatically reducing the operating costs of urban indoor farming. It will enable operators to reach profitability faster while simultaneously increasing the sustainability and resilience of their businesses,” Correlate’s VP of Sales Jim Fiorentino stated in the Sept. 7 announcement (https://ibn.fm/1TTRl).

“Partnering with Correlate allows us to give our CEA customers everything they need to drive operating costs down, improve sustainability and maximize crop yield,” UYS founder and Chairman Chris Brown added. “Because we can handle the entire process from design to development to funding, indoor farmers can now simply focus on what’s important: their crops.”

Climate change concerns have drawn increasing awareness to severe weather trends worldwide and their effects on crop harvests. Commercial industries have seen a growing tendency toward transparency in the energy use and carbon emissions of their operations as an effort to show they are socially responsible, measuring the beneficial outcomes of their labors in terms of published environmental, social and governance (“ESG”) factors. 

Indoor growers are able to avoid many of the vagaries attributable to weather factors. AeroFarms, the company that opened the huge Pennsylvania facility last month, claims it will harvest 26 different crops using up to 95 percent less water than traditional farming and no pesticides, and will do so on a smaller footprint of land than it would need for outdoor harvesting (https://ibn.fm/37Hlo).

Analysts at Grand View Research, Inc., reported the global indoor farming market size was valued at $39.5 billion last year and is expected to reach $44.3 billion this year before growing to $122.3 billion by 2030 at a CAGR of 13.5 percent (https://ibn.fm/on78V). The vertical farm segment is expected to be the fastest growing, with a CAGR of 22.9 percent. 

Such market factors portend a growing demand for cost-efficient and environmentally responsible lighting and energy use solutions such as those advanced by the CIPI and UYS partnership. 

For more information, visit the company’s website at www.CorrelateInfra.com, including the following:

NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at https://ibn.fm/CIPI

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