Our company is currently operating as a purely cold storage business. Turning over US$1.75mill per year. We have secured investment of US$1.3million to finish the scale up to a 20,000 sq ft cold storage facility. In doing this, we anticipate our turn over moving to US$10.7million per year from the end of June. We gave 5% equity away for this investment.
We need a further US$61.3Million in order to buy 55 acres of land, build another 100,000 sq ft cold storage facility, solar tech and have 44 acres of greenhouses. We have secured debt funding for US$45million and now require $16.3million to ensure that we can complete the scale up.
Our company currently imports fruit and veg to the Caribbean but the storage facilities will also process and package local fruit, veg and rice to export across the Caribbean, USA and Canada. Once the greenhouses are up they will start to grow fruit and veg and drive down local prices of fruit and veg because there would be no duty to pay on importing the produce. Essentially we are trying to be profitable but have a positive impact at the same time. The 100,000 sq ft facility will be up and running by Q1 2026 and we anticipate first harvest in the greenhouses in July 2026.
As such, our estimated revenue at the end of year 3 would be US$70million with an EBITDA of 36%. As the $16.3 million ask is coming in at a lower risk stage (risk shared by early backers and bank offering debt) We would only be offering a further 10% in equity for this but we would also be happy to take this on a debt basis.
If any investor is interested, contact us.