Nature’s Miracle Inc, announced that it has entered into a Memorandum of Understanding with Vermillion Growers, Inc. to develop a 60-acre vegetable greenhouse in Dauphin, Manitoba, Canada. The project will be completed in two phases with a total size of 60 acres (first phase of 20 acres and second phase of 40 acres). Nature’s Miracle will provide turnkey solution including earthworks, foundations, structures (warehouses and greenhouses), machinery, irrigation, lighting in order to complete the construction of the greenhouse. The first and the second phases are expected to generate US$30 million and US$84 million in revenue, respectively, for Nature’s Miracle during the next two years. The greenhouse will primarily produce tomatos which will be supplied to the Canadian and the U.S. market.
Management Comments
“We are excited to be engaged to develop a world class greenhouse with Vermillion Growers in Manitoba, Canada. The greenhouse will produce high-quality tomatos for consumers in Manitoba, the neighboring provinces and the U.S. market on a year-around basis,” said Tie “James” Li, Founder, Chairman and Chief Executive Officer of Nature’s Miracle. “This facility will take advantage of the favorable electricity rate being supplied by renewable power sources, including a hydroelectric project. The greenhouse will also utilize carbon dioxide to expedite the growth of the plants. Therefore, the project will be eligible for carbon credits and will contribute to carbon reduction.”
“By partnering with Nature’s Miracle, a leading Controlled Environment Agriculture company, we will be able to build a high quality greenhouse in an efficient way,” said Maria Deschauer, Managing Director of Vermillion Growers. “We are looking forward to working with Nature’s Miracle on what we believe will be the largest vegetable greenhouse for the Province of Manitoba.”