Village Farms International Inc VFF

Consumer Defensive Farm Products

Village Farms International, Inc. is a vertically integrated supplier for plant-based consumer packaged goods in the cannabis and cannabidiol (CBD) categories in North America, the Netherlands and selected markets internationally. The Company’s segments include Produce, Cannabis-Canada, Cannabis-United States and Energy. The Produce segment produces, markets, and sells tomatoes, bell peppers and cucumbers. The Cannabis-Canada segment produces and supplies cannabis products to be sold to other licensed providers and provincial governments across Canada and internationally. The Cannabis-United States segment develops and sells high-quality, CBD-based health and wellness products including ingestible, edible and topical applications. The Energy business receives a royalty from a renewable natural gas facility that is located at the Company's Delta facility. The Company's subsidiaries include Pure Sunfarms Corp., Balanced Health Botanicals, LLC and others.

NDAQ:VFF - Post by User

Village Farms International Inc > VFF Renews Contract:

<< Previous

Bullboard Posts

Next >>

Comment by mydogchachon Nov 10, 2020 8:04am

151 Views

Post# 31868821

RE:VFF Renews Contract:

UnderTheRadar - (11/10/2020 7:29:46 AM)
VFF Renews Contract:

Village Farms Int'l Says Clean Energy Subsidiary Renews and Extends Vancouver Landfill Gas Contract to Transition to Renewable Natural Gas Model

22 minutes ago by MT Newswires

Companies Mentioned: EMH, HMMJ, VFF

07:06 AM EST, 11/10/2020 (MT Newswires) -- Village Farms International, Inc. (TSX: VFF and NASDAQ: VFF) announced Tuesday that its wholly owned subsidiary, Village Farms Clean Energy, Inc., has renewed and extended its existing contract with the City of Vancouver under which VFCE receives landfill gas captured by the City of Vancouver at the City's landfill site in Delta, BC. The 20-year extension period, with an option for an additional five-year extension period, commences upon start-up of the Delta RNG Project commercial operations.

For any that don't know the history - VFF was buying the landfill gas from the City of Vancouver - and then actually bought the co-generation facility from them and created VFCE. This was 7 or 8 years ago when VFF was still just a commercial produce operation - long before cannabis and Pure Sunfarms and share price was around the $1.00 range.
I thought it was pretty forward thinking at the time and it was one of the things that first attracted me to VFF - obviously, management has carried on with that thinking - creative, adaptable but with solid planning behind decisions.

"About VFCE and its Current Co-Generation Facility
VFCE currently owns and operates a co-generation facility adjacent to both Village Farms' produce greenhouse and Pure Sunfarms' (Village Farms' wholly owned subsidiary for cannabis production) greenhouses located in Delta, B.C. The co-generation facility sources landfill gas (a greenhouse gas produced naturally in landfills that is 20 times more potent in warming capabilities than carbon dioxide) from the City of Vancouver's landfill under its COV LFG Contract to generate electricity, all of which is sold to B.C. Hydro under a power purchasing agreement (which expires in 2023) with a royalty on those sales paid to the City of Vancouver. The VFCE co-generation facility also provides thermal heat, which is used by the Village Farms produce greenhouse in Delta, BC. The co-generation facility would be decommissioned upon construction of the Delta RNG Project."