Limoneira Rings NASDAQ Bell and Goes Solar
- by Kayla Webb
NEW YORK CITY, NY - Limoneira is having a fantastic week. Not only was the citrus and avocado provider invited to the New York stock exchange to uphold the coveted tradition of ringing the bell, the company also announced that it is doubling down on sustainability by investing in seven new solar installations across the country. Limoneira is truly showing just what produce excellence looks like in every way, shape, and form, and ANUK is living for it!
On Tuesday, April 9, 2019, many members of Limoneira’s team gathered on the NASDAQ floor—some even bringing along the company’s namesake to highlight to all those financial types what produce is all about: fun! One Vice President of Listings even kicked the event off by trying to juggle a few lemons! If you missed the big moment, you can check out the video here.
“It was incredible,” said Harold Edwards after he had the honor of ringing the bell. “It was truly a historic day for Limoneira and a very memorable day for me and all of my team who were there with me.”
In addition to ringing the bell, Edwards also shared with the NASDAQ team more about Limoneira, including a few accomplishments the company is celebrating this year. I caught up with John Chamberlain post-bell to find out more.
“It as a very exciting experience ringing the NASDAQ bell,” John shared with me. “Harold Edwards, our President and CEO, spoke of the company’s 125-year anniversary, continued growth and new acquisitions, and ONE WORLD OF CITRUS global 365-day Supply Chain. Many exciting prospects for 2019 and beyond.”
But that’s not the only win Limoneira celebrated on April 9th. The company also unveiled its latest solar project, which includes seven solar installations across the company that will produce a total of 7M KW annually and, as a result, reduce 86,830 tons of CO2 over a 25-year period. According to a press release, this makes Limoneira one of the largest private users of solar energy in California.
“Over two thousand Hanwha Q Peak solar modules have been installed on the roof of Limoneira’s new packinghouse,” said Chief Financial Officer Mark Palamountain. “This is expected to offset approximately 680 tons of CO2 and 420 lbs of NOX annually.”
Limoneira also revealed additional sustainability initiatives, like its 12-acre green waste facility that processes an average of 1,000 tons of waste each week and a low-tech patented gravity-powered water treatment system, a 24,000-square-foot project that processes 180,000 gallons of water daily.
“This latest solar project will not only fix our electricity rates for years to come. It will produce clean energy that can be stored in our Tesla batteries and deployed during peak energy periods to reduce brown-outs,” said Edwards. “Our Board and management have always maintained that it is possible to do well by doing good. We will continue to evaluate projects that make sound fiscal and sustainable sense.”
Congratulations to Limoneira and team on the big week!
For more produce wins, AndNowUKnow will keep you up-to-date.