NewCold Invests in State-of-the-art Food Storage and Logistics in Southern Alberta

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CALGARY, AB, April 29, 2024 (GLOBE NEWSWIRE) — NewCold, the fast-growing leader in advanced automated warehousing and cold chain logistics, today announced plans to invest $222 million and create over 50 new jobs in the agri-food sector to create Alberta. With support from Invest Alberta and a grant from the Government of Alberta, NewCold will expand into the southern Alberta community of Coaldale, creating a state-of-the-art food storage facility that will build on the region’s strength as Canada’s premier food corridor and lead to long-term regional economic growth.

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NewCold identified southern Alberta as an ideal location to support the region’s growing food processing industry with its highly automated cold storage facility. The facility will provide critical food supply infrastructure across Canada, further supporting the region’s growth as an agricultural and food corridor. NewCold will also invest in improving Canadian Pacific Kansas City (CPKC) rail connectivity to provide easy access for companies to export their products easily and safely. The investment will go towards community rail lines to develop Coaldale into an export hub.

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NewCold is creating over 50 permanent jobs in the region with the aim of reaching out to post-secondary institutions in the future to develop training programs aimed at diversifying the talent available. The construction of the facility will also create up to 200 construction jobs.

Strong partnerships between agencies in Alberta ensure businesses interested in Alberta receive the support they need. Invest Alberta connected NewCold with available incentives and introductions to the local business community. The Government of Alberta contributed $2.1 million to NewCold’s expansion through an Innovation and Growth Fund grant, while the City of Coaldale helped accelerate the company’s operations and continued to provide strategic development support to ensure the company has the competitive environment, skilled workforce and connectivity it needs.

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NewCold’s state-of-the-art warehouse will utilize proprietary software and technology to ensure food safety and quality, while being 50 percent more energy efficient than traditional cold storage facilities. This technology supports their goal of creating sustainable value chains and demonstrates their mission to contribute to a future where resources are not wasted.

The Alberta-based facility represents an important step in meeting the growing need for cold storage and logistics to benefit local producers seeking solutions to expand their business while ensuring food safety.

NewCold is ready to begin construction, procure equipment and begin hiring employees immediately, with the goal of having more than 50 employees on site by the end of 2026.

QUOTES

“We recognize Alberta’s growing importance in North America’s food supply chain and developing a facility in the province is an important part of our strategic global expansion. NewCold is committed to building a better food supply chain that is more resilient and efficient. Our new state-of-the-art facility will bring advanced food logistics to Alberta, ultimately helping our customers serve their groceries and benefiting consumers.” – Bram Hage, founder and CEO of NewCold

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“The announcement of our automated cold storage facility in one of Canada’s largest and fastest growing food production regions marks an exciting milestone in NewCold’s expansion into the North American market. We are grateful for the excellent collaboration of our partners in Alberta and Coaldale in bringing this new advanced storage facility to fruition. We are proud to offer the latest innovations and technologies in automated cold storage to support food shippers in the region with operations starting in 2025.” – Jonas Swarttouw, NewCold Executive Vice President Commercial and Chairman North America

“The Government of Alberta is attracting investments like NewCold to the province because of our business-friendly policies and programs. The Investment and Growth Fund complements the province’s low corporate tax rate, highly skilled workforce and commitment to reducing administrative burdens, meaning companies can invest with confidence.”– Matt Jones, Minister for Labour, Economy and Trade

“Agriculture is a key industry for Alberta and NewCold’s investment is a win for both processors and producers. This project is a welcome boost to our economy and will help solidify Alberta’s leadership in agriculture and agri-food investment.” – RJ Sigurdson, Minister of Agriculture and Irrigation

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“We are delighted to welcome NewCold to Coaldale and look forward to celebrating the grand opening of their brand new, state-of-the-art cold storage facility. With this historic investment, Coaldale continues to establish itself as a key logistics and investment hub in Canada’s Premier Food Corridor. We are pleased to welcome NewCold to our growing business community and would like to thank Invest Alberta, Minister Matt Jones and everyone at the Ministry of Labour, Business and Trade for their support of this great project.” – Jack Van Rijn, Mayor of the City of Coaldale

“NewCold’s $222 million investment is a major win for southern Alberta, creating more than 50 permanent new jobs and positioning Coaldale as an export hub. Collaboration between Alberta’s pro-business agencies was crucial to NewCold’s final decision. Coaldale, Invest Alberta and the province have pitched in to help the company bring its vision to life.” – Rick Christiaanse, CEO of Invest Alberta

About NewCold

NewCold is a global leader in advanced food logistics with 18 state-of-the-art automated and energy-efficient warehouses on three continents with a total capacity of over 1.3 million pallet spaces. There is also a growing transport fleet of over 200 trucks and 500 trailers. NewCold provides end-to-end supply chain solutions for leading food companies, powered by innovative technology and supported by a team of over 2,000 employees. www.newcold.com

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About Invest Alberta

Invest Alberta engages the world and provides world-class, tailored support for companies, investors and large new projects. With team members strategically positioned in key markets around the world, Invest Alberta works to break down barriers so businesses can start, grow and succeed without borders. Since its inception in 2020, Invest Alberta has supported investments totaling nearly $20 billion and created more than 23,000 jobs in sectors ranging from energy and agriculture to technology, aviation, life sciences and beyond. For more information, visit investalberta.ca.

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