Founded in 2015 in Paris, Agricool aims to create urban farms in recycled containers. The junior company is in the process of testing several containers of hydroponically-grown produce. Its objective is to produce fruit and vegetables without pesticides, picked and sold on the same day.
In Paris, Agricool grows strawberries by saving 90 per cent of water and nutrients compared to conventional agricultural methods and uses renewable energy only. These strawberries contain an average of 20 per cent sugar and 30 per cent vitamin C, more than field-grown strawberries. In the Fall of 2018, 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 financing to enable series production of its containerized modules. At that time, CMA CGM acquired an equity stake in the company through its investment fund, CMA CGM Ventures.
CMA CGM will support Agricool’s development by providing it with its industrial and logistics expertise, and intends to become the company’s principal supplier of containers, and its primary logistics partner.
This collaboration is part of the innovation support strategy implemented by Rodolphe Saadé, Chairman and CEO of 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, CMA CGM Group, said: “With this partnership, 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.”