AVON, Ind. — Co-Alliance, LLP announced its investment for an ownership stake in Indoor Farms of America, LLC, a Nevada-based company specializing in controlled environment agriculture innovation.
“Becoming a part owner of Indoor Farms of America represents our belief in its products and people,” said Co-Alliance CEO, Kevin Still. “We see the potential of integrating this world class indoor agriculture equipment into traditional farming operations as a way to diversify family farms, add a year-round income stream and bring the next generation back to the farm.”
In addition to its investment in Indoor Farms of America, Co-Alliance purchased two “warehouse” style farms last week, marking an important milestone for the CEA company. “We have achieved the first stage of the plans to have indoor farming adopted by the very folks who have kept us fed in this country since its inception, and that is the traditional farmer,” said Indoor Farms of America CEO, Dave Martin.
Co-Alliance will pilot these indoor farms with traditional farmers, assessing the capability to diversify income, spread risks and to supply local fresh produce all year round. Said John Graham, CFO of Co-Alliance, “We are evaluating the commercial application and income generating potential of the farms here in Indiana so when we introduce the technology to our member-growers on a larger scale, we have a turnkey, replicable, scalable complete production process in place.”
“When Dave and I developed the equipment, we embarked on a journey that started four years ago and continues with an intense focus on research and development. This is an affirmation of the purpose of the journey. We know our equipment produces outstanding results that make it more than viable in the indoor growing environment,” said Ron Evans, President of Indoor Farms of America.
Co-Alliance sees new opportunities for farmers to have a major impact on the “locally grown” food movement.
“Co-Alliance is positioning itself and its farmer owners to be able to capitalize on the growing consumer demands for truly fresh, locally grown, and high quality products available to them from local farmers they know and trust, year round,” said Kevin Still, CEO of Co-Alliance. “And to do so, we believe investing in Indoor Farms of America is the right way to go about it.”
— Co-Alliance, LLP