New deep earth geothermal-powered controlled environment agriculture project announced by Freshbay

Freshbay Inc has a solution to Canada's need for genuine green energy and local production of fruits and vegetables. Freshbay is launching a large-scale, deep earth geothermal powered, 19-acre controlled environment agriculture (CEA) facility expected to begin operations in Hinton, Alberta, in January 2024. The project will use cutting-edge vertical farming technologies, greenhouses, and scientific horticulture procedures to create 100% sustainable operations, to grow herbs, strawberries, and tropical fruits year-round.

The project will be the first of its kind in North America to harness deep earth geothermal energy to mass produce in remote regions. Freshbay is set to provide a major boost to the local economy, specifically by creating a projected 450 new full-time jobs.

Freshbay already has strategic partnerships with Novus Earth Energy, which has signed on as a strategic partner to manage drilling, installation and maintenance of the geothermal wells. Canada Banana Farms, meanwhile, is a leading producer of exotic fruits, will manage growing fresh fruits while prioritizing sustainability. Finally, F&G Strategic Partners is arranging for the establishment of an appropriate funding structure, to provide the capital debt facility for the project.

"This geo-agriculture project is being led by a strong, passionate geothermal energy team with strategic agriculture and tech partners," said Vic Reddy, CEO of Freshbay. "They are committed to delivering innovative, sustainable, and economically viable solutions. We are thrilled to launch this large-scale, deep earth geothermal agriculture project, which has the potential to revolutionize indoor farming. By harnessing the power of geothermal energy, we can create a genuinely sustainable and efficient solution for indoor agriculture, providing fresh, healthy produce all year round."