4 SKIES is confident that investors will back the project due to the strength of the projects covenants, its high profitability and short capital cost recovery period (less than 5 years). At the time of drafting this proposal, IGES Canada Ltd. has secured a signed commitment from Gambles Produce who will take 100% of the organic produce available from the project at an average price of CDN $6.40 per pound. The range of produce required varies, but the average price across the spectrum of product remains the same.
By the time the feasibility study is completed and presented to funders, 4 SKIES and IGES Canada will already have secured a formal contract from Gambles specific to the project, as well as a Letter of Intent (LOI) from prospective funders willing to fund the project.
In the case that the feasibility study recommends the integration of a utility scale, Natural Gas Combined-Cycle (NGCC) power plant, instead of the 22 MW gas plant initially outlined in this proposal, then the challenge will be to install a larger power plant in KAHNAWAKE and maintain a reasonable size vertical farm operation, all while achieving 4 SKIES’ overriding goal of zero CO2 emissions. To accomplish this 4 SKIES will need to utilize available CO2 scrubbing technologies to remove 90% of the CO2 from the gas plant and send the remaining 10% of CO2 to the vertical farming operation. The following schematic illustrates in general terms how a commercial-scale NGCC plant, with a CO2 scrubber, and a vertical farm operation work together to mitigate CO2 emissions. To provide some perspective and scale, the artist rendering below right is of an actual design for a medium size NGCC plant with scrubbing technology supplied by the German utility company, RWE.