One of the world’s leading shipping groups, France-based container transportation and shipping company CMA CGM recently announced they are to support the financial and industrial development of the new and innovative company specializing in urban agriculture, Agricool. With the support from the CMA CGM Group, Agricool is now able to launch their industrialization phase.
Agricool uses recycled containers to develop an urban agriculture system.
Agricool was founded in 2015 with the aim to create urban farms inside recycled containers. The relatively new company focuses on growing fruit and vegetables without the use for pesticides.
Compared to classic agricultural methods, Agricool grows strawberries while saving 90% of water and nutrients and only uses renewable energy. As a result of this new growing method strawberries contain 20% more sugar and 30% more vitamin C than strawberries you would find in a normal retail store.
Back in Autumn 2018, the CMA CGM Group offered technical and logistical support for the delivery and installation of a “cooltainer” in Dubai for Agricool, and since then has supported the industrialization of the innovative system developed by Agricool.
In December 2018, Agricool successfully completed a €25 million fundraising campaign to finance the industrialization of their innovative project. CMA CGM Ventures, the investment fund of CMA CGM acquired an equity stake in Agricool.
Chairman and CEO of the CMA CGM Group, Rodolphe Saadé implemented the innovation support strategy that is tailored for collaboration projects of this type, and others through equity investments and ambitious commercial partnerships with start-ups with strong entrepreneurial values and innovative industrial projects.
Senior Vice President for of the CMA CGM Group Container Logistics Department, Joël Gentil 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.”