The world’s fourth largest ocean carrier CMA CGM has announced that it will support the financial and industrial development of Agricool, a company specializing in “urban agriculture”.
Founded in 2015, Agricool uses recycled containers to create urban farms, producing fruit and vegetables without pesticides that can be picked and sold on the same day.
CMA CGM has highlighted the work of Agricool, which grows strawberries by saving 90% of the water and nutrients involved in classical agricultural methods, as well as using renewable energy only.
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In 2018, CMA CGM provided support to the start-up organization by offering technical and logistical support for the delivery and installation of a “cooltainer” in Dubai.
Agricool completed a fundraising campaign worth US$28.5 million in December 2018, financing the industrialization of its innovative project.
CMA CGM has acquired an equity stake in the company and will now support its development by providing its industrial and logistics expertise, as well as becoming a main supplier of Agricool’s containers.
Credit: CMA CGM Group
According to a statement, the ocean carrier’s investment is part of a strategy launched by Rodolphe Saadé, Chairman and CEO of CMA CGM.
In order to foster innovation, the shipping company plans to pursue ambitious commercial partnerships with start-ups that promote strong entrepreneurial values and offer innovative industrial projects.
Joël Gentil, Senior Vice President of the Container Logistics Department at CMA CGM, said: “With this partnership, the CMA CGM Group confirms its commitment to support the development of start-ups that innovate in a relevant way.
“In line with our commitment to sustainable development, this solution allows us to recycle containers and give them a second life.”
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