CPE News (11/19/2020) – Lewis & Clark AgriFood, a St. Louis Missouri based food and agriculture focused investment firm, has committed US $7.7 million senior secured debt from its Rural RBIC Fund to Hortau Corp.
San Luis Obispo, California and Lévis, Quebec based Hortau specializes in wireless and web-based crop irrigation management systems. The company focuses on high-value crops, including tree crops, vines, vegetables, and berries. Its automated irrigation technology monitors weather, soil and water conditions to help improve yield while reducing water, energy and pesticide usage, as well as fertilizer leaching.
Hortau Corp. is backed by Avrio Capital, Advantage Capital Agribusiness Partners, Export Development Canada (EDC) and BDC Capital.
photo credit: Hortau
News Release
Lewis & Clark AgriFood Commits $7.7 Million senior secured debt facility to Hortau Corp, a leading irrigation monitoring technology company Français
ST. LOUIS, Nov. 19, 2020 /CNW Telbec/ – Lewis & Clark AgriFood, a St. Louis-based food and agriculture focused investment firm, today announced a $7.7 million senior secured debt commitment from their Rural RBIC Fund in Hortau Corp, which specializes in wireless and web-based crop irrigation management systems.
With headquarters in San Luis Obispo, California, as well as Quebec, Canada, Hortau focuses on high-value crops, including tree crops, vines, vegetables, and berries. Its automated irrigation technology monitors weather, soil and water conditions to help improve yield while reducing water, energy and pesticide usage, as well as fertilizer leaching.
Hortau’s patented technology combines real-time soil tension sensor data with a simple-to-use mobile platform, enabling growers to anticipate the water needs of the crop and schedule irrigation accordingly. Managing irrigation schedules based on soil tension data ensures that a plant has an ideal amount of available water and that photosynthesis and transpiration happen at maximum levels from sunup to sundown. In turn, growers can realize maximum yields and improved quality from their harvest.
“Hortau is a technology and market leader in its niche,” said Tim Hassler, Principal at Lewis & Clark AgriFood. “Water conservation efforts will continue to drive growth in smart irrigation technology, and our credit facility will help Hortau benefit from this industry growth.”
Jocelyn Boudreau, Hortau CEO, said the company’s real-time field monitoring stations have been contracted on about 270,000 acres in the U.S. and Canada since 2002. “We appreciate the support from Lewis & Clark AgriFood which will advance our commitment to help producers achieve higher-quality crops and increased production, along with more efficient use of water and energy,” Boudreau said.
About Lewis & Clark AgriFood
Lewis & Clark AgriFood is a St. Louis based food and agriculture focused investment firm concentrated on providing capital to growth stage businesses through its AgriFood Growth Fund and its AgriFood Rural (RBIC) Fund. Their seasoned investment team brings a breadth of quality sector experience to every investment. For more information, visit www.lewisandclarkagrifood.com or connect with us on LinkedIn or Twitter.
About Hortau Corp
Since 2002, Hortau’s patented irrigation management system has been helping growers keep their plants healthy and use their inputs more efficiently. By tracking soil tension, a direct measurement of precisely how much water is available to the plant, growers anticipate plant stress and irrigate as needed to prevent damage. This ensures optimal crop growth while reducing water use, energy consumption and environmental impact.
SOURCE Hortau
For further information: Jessie Chapel, Investor Relations Manager, Lewis & Clark AgriFood, jessie@lacpartners.com, 314-651-4915, 120 South Central Avenue, Suite 1000, St. Louis, MO 63105, www.lewisandclarkagrifood.com