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Energy Management 05/24/2017

Limoneira and Tesla Power up to save energy costs

Limoneira Company (NASDAQ: LMNR), a leading agribusiness with prime agricultural land and operations, real estate and water rights in California, announced today the commissioning of a new joint project with Tesla to reduce energy costs.

Limoneira and Tesla Power up to save energy costs

New test project reduces energy demand at peak hours

Limoneira Company (NASDAQ: LMNR), a leading agribusiness with prime agricultural land and operations, real estate and water rights in California, announced today the commissioning of a new joint project with Tesla to reduce energy costs.

“This project will study the efficacy of battery systems paired to solar manufacturing facilities,” said Mark Palamountain, Limoneira Senior Director. “The goal is to reduce demand from the utilities during the day, which is the high cost period, and offset that use with less expensive night time energy that is stored in the battery.”

Limoneira has 6 solar installations across the company totaling 4.2M kWhs annually. An additional solar project is planned for 2017 which will add 1.5MWs on Limoneira’s packing house roof for 2.8M kwhs or a total of 7M kwhs annually. This will enable the Company to be 50 % off the grid. The Company is on track to become completely energy independent by 2022.

“Limoneira has a long history of land stewardship and sustainability,” said Limoneira CEO Harold Edwards. “We will continue to make investments that are clean as well as profitable.” In addition to Limoneira’s solar operations, the company is a leader in providing Work Force housing and has significant green waste recycling, integrated pest management and water projects.

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