Lufa Farms' Launch of Third Urban Greenhouse in Anjou Means More Fresh Vegetables Year Round - The Fonds de solidarité FTQ Invests $3 Million for the Construction of a 63,000 Sq. Ft. Greenhouse

Highlights

• The world's first urban rooftop greenhouse was inaugurated in 2011 in Ahuntsic (32,000 ft²), followed by a second greenhouse in Laval (43,000 ft²);
• The company's third greenhouse in Anjou is its largest (63,000 ft²);
• The company now has 140 employees and uses responsible agricultural methods:
  • Water conservation: recirculation of irrigation water and rainwater capture;
  • Pest control: biological control of harmful pests;
  • Energy efficiency: uses 50% less energy;
  • Waste reduction: on-site composting; and
  • Freshness: same-day delivery of harvested crop
• More than 40 fresh products grown and distributed in 10,000 baskets weekly in Québec

MONTRÉAL, March 24, 2017 /CNW Telbec/ - With Prime Minister Justin Trudeau in attendance, Lufa Farms today inaugurated its third urban greenhouse atop an existing building in Anjou. Built to meet a growing need for its products, the 63,000 ft² facility is this booming Montreal company's largest and was made possible thanks in part to a $3 million investment by the Fonds de solidarité FTQ.

Launched in 2009, Lufa Farms is the brainchild of Mohamed Hage, Lauren Rathmell, Kurt D. Lynn and Yahya Badran, who sought to crystallize an urban greenhouse concept spawned at the McGill University business incubator.

Quotes

"Backing innovative companies like Lufa Farms is really what the Fonds' strategic planning is all about. And the reason we can make these types of investments is because of the Trudeau government's reinstatement of the labour fund federal tax credit in 2016."
Gaétan Morin, President and CEO of the Fonds de solidarité FTQ

We are happy to welcome the new urban greenhouse in Anjou, the third set up by Les Fermes Lufa. It is a project that demonstrates the importance of encouraging innovation in all sectors, as well as investing in agri-food. This is why our 2017 budget focuses on these important components that play a major role in Canada's economic growth. I am also very pleased to see that our decision to reinstate the federal labour sponsored venture capital fund tax credit last year has enabled this project to materialize.
The Honourable Pablo Rodriguez, MP for Honoré-Mercier and Chief Government Whip

"Companies in the agri-food can and must innovate to ensure their growth. A novel model from the start, Lufa continues to innovate by adopting new practices and technologies for their third greenhouse in Anjou to grow even more fresh products."
Janie Béïque, Senior Vice-President, Natural Resources, Industry, Entertainment and Consumer Goods, Fonds de solidarité FTQ

"Being able to finance this project in Quebec has been an important milestone for us. It's testimony that commercial-scale urban farming is truly economically viable, and that a sustainable economy is possible. It also represents an important sustainability milestone for a city. Urban growing centres like Lufa, employing local workers, in concert with local farmers that provide fresh, responsible, and locally-produced goods to thousands of local residents everyday, that's a model for every city in the world."
Mohamed Hage, President and founder of Lufa Farms

For images of Lufa Farms (that may be downloaded full-res), see their Flickr album.

About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers into investments. As at November 30, 2016, the organization had $12.2 billion in net assets, and through its current portfolio of investments has helped create and protect over 187,000 jobs. The Fonds is a partner in more than 2,600 companies and has nearly 618,000 shareholder-savers. fondsftq.com

SOURCE Fonds de solidarité FTQ