FC Development Corp. Formalizes Partnership with Nationally – Recognized Clean Energy Leader, Agricultural Green Energy Systems

FOR IMMEDIATE RELEASE – Norwich, Connecticut – January 30, 2024

FC Development Corp. (FCDC), a management and development entity for the Farmer’s Cow brand of companies, is pleased to announce the formalization of its partnership with clean energy leader, Agricultural Green Energy Systems (Ag-GES), of Columbia, Connecticut. Ag-GES is led by Dr. Michael Curtis, Ph.D., and is recognized as a leader in the development, design, technical/construction management, and operation of Anaerobic Digesters (AD) – securing clean energy production at agricultural and other sites combined with significant pollution mitigation and greenhouse gas reductions.

The Ag-GES core vision is to establish anaerobic digesters at select farms dedicated to clean energy across the country, to the benefit of each individual farm or farming cooperative; and to communities and the environment within which the anaerobic digesters are located. Digesters currently in operation utilize feedstocks such as manure and food wastes, producing an energy-rich biogas which is refined to generate energy as a renewable natural gas (RNG), and other power sources – concurrently producing nutrient-laden soils and fertilizers.

Ag-GES has designed and is commencing environmental permitting and operational establishment of a single, large, AD system on the Farmer’s Cow Cooperative’s largest farm, Cushman Farm, in Franklin, Connecticut. Also participating are Co-Op farms Maple Leaf Farm and Graywall Farm. The Cushman Farm Digester began as a partnership between Dr. Curtis of Ag-GES, and Jim Smith, Owner of Cushman Farm and President of the Farmer’s Cow Cooperative. Smith and Curtis are co-founders of Ag-GES – securing several sites for AD systems in Connecticut, but also identifying and beginning development of additional sites in New York and North Carolina.

“Because the Farmer’s Cow cooperative has such a strong focus on sustainability and two Co-Op farms, Hytone and Fort Hill, already have operational anaerobic digesters on their properties, this agreement was a natural progression for FC Development Corp.,” said Edwin Molina, FC Development Corp. CEO. “This agreement allows FCDC and Ag-GES to have tremendous flexibility working together. This will result in Ag-GES increasing the build-out of its pipeline of digester projects in alignment with the Farmer’s Cow Brand – and completing work in progress in northern New York. There, they are establishing a negotiated number of AD systems working with twelve area farms.”

FCDC and Ag-GES, working on behalf of the Farmer’s Cow and its investors, is engaged in the development and projected operation of this major anaerobic digester expansion project – with the Project entailing up to three green energy anaerobic digesters. The proposed digesters will be located upon two to three large dairy farms (currently under negotiation and securement). Manure from more than 20,000 dairy cows will be delivered to the Project for “treatment” in the AD systems designed, built, owned, and operated by the Project.

Digestion and treatment of the Biogas created from each Project digester serves to remove certain contaminants to produce pipeline-quality RNG or electricity; with key elements of the Project including gas cleanup, pressurization, metering, and pipeline injection coordinated with National Grid, the energy utility in this select New York area. The produced RNG will be sold as transportation fuel which is typically used by buyers to help achieve their greenhouse gas emission reduction goals. It is estimated that the Project will result in the reduction of more than 38,000 metric tons annually of greenhouse gas emissions.

The Project is expected to be operated for over 20 years. It will provide investors, member-farms and other participating-farms, and FCDC with returns based on generated revenues over the projects’ duration. Currently, contracts with the participating dairy farms are being negotiated. Each project will be funded at approximately 40-50 million dollars ($40M – $50M). The Project is likely the first of between 10-20 similar projects estimated for implementation over the next five years; and will be driven by Ag-GES and FCDC working together to evaluate potential sites for their anaerobic digesters in a variety of farming communities throughout the U.S. With the partnership, FCDC has been granted the rights to and mission of raising capital for this AD system expansion – benefitting FCDC shareholders while strengthening the company’s brand, its already impressive clean energy focus, and the company’s primary mission of helping farmers and farming communities across the country while powering the company’s own expansion and growth for years to come.

Cash flow from the AD projects is projected as stable and lucrative as FCDC partners with Ag-GES; and continues its additional partnerships with other Private Equity funds, trusts, and individual investors across the country to secure and expand these projects through Ag-GES – a strategic action that will greatly benefit all parties involved.

“The business model to establish anaerobic digesters on farms across the country solves one of the greatest problems that the U.S. is facing – that the small farmer cannot make it economically in this country any longer – and that new, properly developed anaerobic digesters provide a supportive technology by which those small farmers can overcome financial risks to ensure the integrity of the nation’s food supply,” noted FCDC CDO, Steve Lane.

About FC Development Corp.:

FC Development Corp. is the management and development entity for the Farmer’s Cow brand of companies, partnering with the Farmer’s Cow collective of six Connecticut-based family farms. The company leads The Farmer’s Cow Calfé & Creamery collection of restaurants and kiosks and provides its products and services to local and regional communities throughout nine states, including New England.

For More Information:
Contact Steve Lane, Chief Development Officer, at stevel@farmerscowcc.com

See https://thefarmerscowcalfe.com