Agricultural Development in the Caribbean About to Advance
Alquimi Renewables announced it successfully formalized an exclusive long term licensing agreement with engineering firm Megalo Solutions Inc., of Phoenix Arizona, to supply and construct off-grid hydroponic solar greenhouses throughout the Caribbean and Latin America trade regions. Alquimi has also secured project financing sources who have dedicated US$300m towards the establishment of sixteen planned operations in the Caribbean alone. In addition, a major US grower company has agreed to manage all greenhouse operations.
The agreement appoints Alquimi Renewables as the exclusive project developer for the region utilizing the Megalo proprietary agricultural technologies employed in their commercial off-grid solar greenhouse systems. The technology represents the first engineered, hurricane resistant solar greenhouse system in the market, and will directly support much needed agricultural development across a region constantly threatened by high risk climate conditions. The systems can also supply the electrical utility or other off-takers with up to 5-7MW of electricity generated from a typical 15-25 acre greenhouse site.
Alquimi plans to partner with existing commercial farmers in each location to help accelerate local indigenous crop production and provide access to supply chain relationships. The business model also includes working with learning institutions to help “Grow More Farmers” by bringing young people back to farming through new technologies.
“We’re extremely excited about formalizing our relationship with the PowerGrow/Megalo team.” says John Martin, Principal and Managing Partner of Alquimi. “This will allow Alquimi to continue its strategic development of our technology based solar greenhouse projects across a broad region which has been consistently challenged by commercial grade food and energy production.”