X-Caliber Rural Capital, an affiliate of X-Caliber Holdings and a USDA-licensed lender for rural business and economic development projects, has announced closing a $56 million bridge loan for a Hardee Fresh vertical farming facility in Americus, Georgia. This partnership between X-Caliber Rural Capital and American Lending Center, an impact investor focusing on creating jobs in rural locations, aims to support economic development in rural communities and contribute to more sustainable and healthier agriculture practices.
“Our team is delighted to offer a successful financing solution to our client for building their new, significantly larger facility, along with the substantial number of construction and production jobs it entails,” stated Jordan Blanchard, Executive Manager and Co-Founder of X-Caliber Rural Capital.
The new Hardee Fresh vertical farm facility will span nearly 340,000 square feet and use advanced technology to grow and pack leafy greens in a fully-controlled environment. With over 50,000 internet-connected devices and onsite renewable energy, the facility will produce more than 15 million heads of lettuce annually and a range of mixed salads, using only 1% of the water required for traditional outdoor operations. This innovative vertical farm is expected to be completed by late 2024. It will help deliver affordable, sustainably grown, organic greens and salads with zero pesticides and herbicides to Georgia’s consumers. Throughout the Southeastern U.S., This investment is part of Hardee Fresh’s mission to transform how Americans eat produce and utilize cutting-edge technology to ensure high-quality, natural, and organic leafy greens.
“Thanks to the funding from our partners at X-Caliber Rural Capital and American Lending Center, Hardee Fresh is revolutionizing how millions of Americans can access healthy produce,” stated Halton A. Peters, Ph.D., Co-Founder and President of Hardee Fresh. “We’re broadening our capacity to utilize advanced technology to guarantee that our leafy greens are completely natural and organic.”
“This new vertical farm is an essential milestone in Hardee Fresh’s goal to transform how Americans consume produce, as it enables us to supply cost-effective, sustainably grown, organic greens and salads free from pesticides and herbicides to customers in Georgia and across the Southeastern U.S.,” Dr. Peters added. “South Georgia, along with our existing operations in Central Florida, proved to be an ideal location for the next phase of our expansion. We’re grateful to the Development Authority of Sumter County, Georgia, for their assistance in making this vision a reality.”
Image provided by X-Caliber Rural Capital
