Minnesota-based Greenhouse Lettuce Producer Plants Roots in Temple Through Partnership with Equilibrium Capital
TEMPLE, TEXAS – Revol Greens, a Minnesota-based producer of greenhouse lettuce, has plans to locate a new a manufacturing operation in Temple, Texas.
Pending final negotiations with Bell County Commissioners Court, the company plans to construct a 40-acre advanced greenhouse as part of an investment representing over $110 million. This includes two phases, of what will ultimately be a four-phase expansion, expected to be the largest lettuce greenhouse globally at full build out. Revol Greens will add 150 competitive, family-wage jobs with benefits over the next three to four years.
The facility will be financed by Equilibrium Capital, the leading investor in the greenhouse and controlled environment sectors in North America. In addition to investments with AppHarvest in Kentucky, Houweling’s in California and Utah, and Finka in Mexico, Equilibrium’s Controlled Environment Foods strategy investments also include Revol’s existing facilities in Minnesota and California.
“We are thrilled to welcome Revol Greens to Temple,” said Adrian Cannady, president and CEO of Temple Economic Development Corporation. “Revol joins a growing roster of food and beverage companies that choose to base their manufacturing and distribution operations in Temple, Texas.”
With locations in Minnesota, California and now Temple, Revol Greens is the largest lettuce greenhouse grower in North America. Applying advanced growing methods and greenhouse technology, Revol Greens uses 90% less water than traditional field-grown greens.
Currently, Revol’s greens are available in stores and restaurants across the Midwest. The new Temple operation represents Revol’s first southern expansion, which will allow the company to distribute its sustainably produced, organic lettuce products throughout Central Texas and the South. Products will move from the facility to market three to four days faster than food products coming from the west coast, enhancing freshness.
“Revol Greens selected Temple for our new facility in order to expand our production and distribution capabilities,” said Mike Wainscott, CFO of Revol Greens. “The Temple greenhouse will produce upwards of 17 million pounds of greens annually upon completion of phase two. Temple’s central location in Texas means our products will reach shelves and tables throughout the southern U.S. efficiently. We’re eager to begin production in Temple and appreciate the work that the Temple EDC has invested over the past eight months to make this project happen.”
Already, several food and beverage companies maintain headquarters or major operations in Temple. The city’s central location within three hours of Dallas, Houston, Austin and San Antonio, with direct access to I-35, allows food and beverage companies to distribute their products to all of Texas, the Southeast U.S., Mexico and beyond. Competitive business costs and a growing pool of skilled talent also contribute to success for companies in this industry.
Upon approval from Bell County Commissioners Court, Revol Greens will break ground on the new operation in 2021, with plans to be operational in 2022.
About Temple Economic Development Corporation
The Temple Economic Development Corporation (Temple EDC) is a nonprofit organization that serves as the designated economic development entity for the City of Temple, Texas. Temple EDC strengthens relationships, builds partnerships, and provides solutions that cause entities to choose Temple. To learn more about doing business in Temple, visit TempleEDC.com.
About Revol Greens
Revol Greens merges natural growing with modern hybrid hydroponic technology to provide optimal lettuce growing conditions 365 days a year. Spanning 46 planned acres across three greenhouse lettuce farms by early 2022, Revol Greens harvests and packages its produce the same day, resulting in the freshest taste, maximum nutrition and a shelf life up to four to six days longer than out-of-state greens. In 2021, Revol Greens will grow more than 10 million pounds of GMO-free lettuce. To learn more, visit RevolGreens.com.
Equilibrium is a leader in sustainability-driven real asset investment strategies for institutional investors. The firm has developed market-leading investment strategies and portfolios in controlled environment foods, waste-water-energy distributed infrastructure, and climate resilient infrastructure. The firm has offices in Portland, Oregon; San Francisco, California; and London, England. To learn more, visit eq-cap.com.