🧊 Related to invest $1B in cold storage

ALSO: Cold chain industry to meet climate change targets

Author

Olga Kirby
October 25, 2023

Welcome back to Cube Cold News where we cover the latest developments in the cold chain industry and temperature-controlled logistics.

In today’s edition:

  • Related bets $1B on cold storage

  • Geodis opens Schiphol-Rijk temperature-controlled facility

  • Magnavale Easton development is over 75% complete

  • UK cold chain industry meets climate change targets

News

Related bets $1B on cold storage Related, a global real estate development firm led by Stephen Ross, is making a $1 billion investment in the cold storage sector. The venture, called RealCold and managed by Related Fund Management, aims to develop a network of cold storage distribution facilities. The first two locations, in Lockhart, Texas, and Lakeland, Florida, will span over 300,000 square feet each and take two years to build. While some space commitments have been secured from food companies, some of the space is being built on speculation. Related plans to have more than 10 facilities across six markets by 2025, capitalizing on the growing demand for cold storage amid changing supply chains and consumer interest in local food options. (link)

£130 Million Magnavale Easton Development Over 75% Complete Magnavale, a UK-based provider of temperature-controlled storage, is on track to complete its £130 million fully automated facility in Easton, Grantham by late 2024. The project, initiated in 2022, will consist of a 45-meter-high facility with 101,000 frozen pallet positions. Racking installation in the high-bay area is over 75% complete, and all 13 automated cranes have been installed. In the low-bay area, 20 loading docks are near completion, along with conveyors and monorail systems for automation. The development aims to become Europe's most advanced and efficient temperature-controlled store, operating solely on renewable energy and accommodating a total of 145,000 pallets. (link)

Geodis opens Schiphol-Rijk temperature-controlled facility GEODIS, a global logistics provider, has announced the opening of its new temperature-controlled facility in Schiphol-Rijk, Netherlands. The 5500 sqm site, which officially began operations on October 6th, will primarily cater to the pharma and healthcare sectors. Located next to an existing facility, this expansion is expected to strengthen GEODIS' presence in the pharmaceutical and healthcare logistics market. The new Schiphol-Rijk facility will focus on freight forwarding and will be part of GEODIS' cross-docking network for ambient and cold chain products. The site is TAPA-A rated for air freight and holds the CEIV Pharma certification for handling temperature-sensitive goods ranging from 15-25°C and 2-8°C. (link)

Agile Cold Storage breaks ground on new Claymont facility Agile Cold Storage has broken ground on a new facility in Claymont, Delaware which is expected to bring approximately 130 new jobs to the area. The company is investing $175 million in the project, with the first phase of development expected to create 100 jobs across 165,000 square feet. An additional 30 jobs will be added in phase two, which will develop an additional 100,000 square feet. In addition to the permanent jobs in technology, customer service, and warehouse operations, hundreds of construction jobs will be created over the next five years. The facility's location near the Port of Wilmington and Philadelphia makes it an ideal hub for working with major exporters of fruits, vegetables, and proteins. (link)

Cold storage industry meets climate change targets Members of the cold chain have succeeded in meeting the Government’s target for energy efficiency improvements by the end of 2022, according to the Cold Chain Federation UK (CCF). The industry's success in meeting this challenging target is attributed to a strong focus on energy efficiency and significant investment. The Climate Change Agreement (CCA) scheme, which offers tax benefits to businesses meeting energy efficiency targets, has played an essential role in driving these improvements. The next target for cold stores is to achieve a 10% improvement in energy efficiency by the end of 2024. The industry is also launching a new Cold Store Energy Benchmarking Dashboard to help identify opportunities for further improvement. (link)

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