The joint venture will develop a 70-acre, state-of-the-art commercial composting center on Limoneira property in Santa Paula, California, the only permitted commercial composting center in Ventura County. The facility will expand from the existing 15-acre green waste composting operation into a comprehensive organic recycling center capable of processing approximately 295,000 tons of organic waste annually. The facility is expected to become operational in the second half of fiscal year 2027 and, at capacity, is projected to contribute significant EBITDA which will be shared equally between Limoneira and Agromin. The joint venture is expected to generate revenue in multiple ways including gate fees from waste haulers as they deliver green waste to the facility and the sale of compost from the recycled material. Limoneira will also lease the 70-acre site to the joint venture for approximately $560,000 annually. The lease agreement includes 89-acre feet of annual water supply to the facility.
To read the entire announcement from Limoneira, go here.