News Release Details

Latest in a series of solar projects is installed

SANTA PAULA, Calif.--(BUSINESS WIRE)--Apr. 9, 2019-- On April 9th, 2019, Limoneira Company (Nasdaq: LMNR), a diversified citrus packing, selling and marketing company with related agribusiness activities and real estate development operations announced the unveiling of the Company’s latest solar project.

“Over two thousand Hanwha Q Peak solar modules have been installed on the roof of Limoneira’s new packinghouse,” said Limoneira Chief Financial Officer, Mark Palamountain. “This is expected to offset approximately 680 tons of CO2 and 420lbs of NOX annually."

This is the latest of Limoneira’s 7 solar installations across the company which produce a total 7M KW annually, and in doing so, reduce 86,830 tons of CO2 over a 25-year period. Limoneira is one of the largest private users of solar energy in California.

Additional sustainability initiatives include a 12- acre green waste facility that processes an average of 1000 tons of waste each week that would otherwise end up in a landfill and a low-tech patented gravity-powered water treatment system. This 24,000 square foot project process 180,000 gallons of water daily, transforming waste into water that meets CA title 22 drinking standards.

“This latest solar project will not only fix our electricity rates for years to come. It will produce clean energy that can be stored in our Tesla batteries and deployed during peak energy periods to reduce brown-outs,” said Harold Edwards, Limoneira CEO. “Our board and management have always maintained that it is possible to do well by doing good. We will continue to evaluate projects that make sound fiscal and sustainable sense."

About Limoneira Company

Limoneira Company, a 126-year-old international agribusiness headquartered in Santa Paula, California, has grown to become one of the premier integrated agribusinesses in the world. Limoneira (pronounced lē mon΄âra) is a dedicated sustainability company with 14,500 acres of rich agricultural lands, real estate properties, and water rights in California, Arizona and Chile. The Company is a leading producer of lemons, avocados, oranges, specialty citrus and other crops that are enjoyed throughout the world. For more about Limoneira Company, visit www.limoneira.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190409005071/en/

Source: Limoneira Company

Media Contact
John Chamberlain
VP Marketing
Limoneira
805 525-5541 ext. 1056

Investor Contact:
John Mills
Managing Partner
ICR