Freight News, Sea

CMA CGM Group supports the development of Agricool

[ January 16, 2019   //   ]

The CMA CGM Group has decided to support the financial and industrial development of Agricool, a young and innovative company specializing in urban agriculture, in order to enable it to launch its industrialization phase.

Founded in 2015 in Paris, Agricool aims to create urban farms in recycled containers. With its innovative agricultural model, the young company wishes to produce fruit and vegetables without pesticides, picked and sold on the same day and prioritizing short circuits. Several containers are currently being tested.

In Paris, Agricool grows strawberries by saving 90% of water and nutrients compared to classical agricultural methods and uses renewable energy only. These strawberries contain an average of 20% sugar and 30% vitamin C more than retail store strawberries.

In the Fall of 2018, the CMA CGM Group provided its first concrete support to Agricool by offering technical and logistical support for the delivery and installation of a “cooltainer” in Dubai.

In December, Agricool completed a €25 million fundraising campaign to finance the industrialization of its innovative project. On this occasion, CMA CGM acquired an equity stake in the company through its investment fund, CMA CGM Ventures.

In parallel, CMA CGM wants to support Agricool’s development by providing it with its industrial and logistics expertise. The Group thus becomes the main supplier of containers and the primary logistics and supply partner of this young company.

This collaboration is part of the innovation support strategy implemented by Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, through equity investments and ambitious commercial partnerships with start-ups with strong entrepreneurial values and innovative industrial projects.

Joël Gentil, Senior Vice President – Container Logistics Department of the CMA CGM Group, said on this occasion: “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.”