Envision Cold Company Profile

Background

Overview

Envision Cold is a forward-thinking cold storage operator and developer, founded in 2022 and headquartered in Atlanta, Georgia. The company offers a comprehensive suite of services across the entire cold chain, including transportation, import and export services, real estate development, and safeguarding the integrity of cold chain processes.

Mission and Vision

Envision Cold's mission is to empower its people and provide innovative solutions to customers, ensuring the safe delivery of food worldwide—one table at a time. The company envisions becoming a leading provider in the cold storage industry by offering flexible, transparent, and communicative services that align with customer visions of success.

Industry Significance

The cold storage industry plays a crucial role in maintaining the quality and safety of temperature-sensitive products, including food and pharmaceuticals. Envision Cold's entry into this sector addresses the growing demand for efficient and reliable cold chain solutions, positioning the company as a significant player in enhancing supply chain efficiency and product integrity.

Key Strategic Focus

Core Objectives

Expansion of Facilities: Envision Cold aims to acquire and develop a network of cold storage facilities across North America, focusing on underserved markets to meet the increasing demand for cold storage solutions.

Comprehensive Service Offering: The company provides end-to-end cold chain services, including transportation, import and export services, and real estate development, ensuring a seamless experience for clients.

Areas of Specialization

Cold Storage Operations: Managing temperature-controlled environments to preserve the quality and safety of perishable goods.

Transportation and Logistics: Offering drayage, cross-docking, and consolidation services to optimize supply chain efficiency.

Real Estate Development: Engaging in land acquisition, site selection, and construction management to build state-of-the-art cold storage facilities.

Key Technologies Utilized

Energy Management Systems: Implementing advanced systems to monitor and control energy usage, enhancing operational efficiency and sustainability.

Automated Storage and Retrieval Systems (AS/RS): Utilizing automation to improve inventory management and reduce human error.

Temperature Monitoring Sensors: Deploying IoT-enabled sensors to continuously monitor and record temperatures, ensuring compliance with safety standards.

Primary Markets Targeted

Food and Beverage Industry: Providing storage solutions for perishable goods, including meats, seafood, and dairy products.

Pharmaceuticals: Ensuring the safe storage and transportation of temperature-sensitive medical products.

E-commerce: Supporting online retailers with efficient cold chain logistics for perishable items.

Financials and Funding

Funding History

In August 2023, Envision Cold secured a $500 million investment from an undisclosed capital partner. This funding enables the company to acquire and develop over $1.5 billion worth of cold storage assets, facilitating rapid expansion and service enhancement.

Utilization of Capital

Facility Expansion: Acquiring and developing cold storage facilities in strategic locations across North America.

Technology Integration: Investing in advanced technologies to improve operational efficiency and service quality.

Service Diversification: Enhancing service offerings to include comprehensive cold chain solutions, from storage to transportation and real estate development.

Pipeline Development

Key Pipeline Candidates

Facility Acquisitions: Envision Cold has acquired cold storage operations and assets in Oakland, California; San Francisco, California; Laredo, Texas; and Vancouver, British Columbia.

Stages of Development

Operational Integration: Integrating acquired facilities into Envision Cold's operational framework to ensure seamless service delivery.

Expansion Planning: Identifying and planning for additional facility acquisitions and developments to meet market demand.

Target Conditions

Underserved Markets: Focusing on regions with limited cold storage infrastructure to address service gaps.

Anticipated Milestones

Facility Launches: Opening new facilities in strategic locations to expand service coverage.

Service Enhancements: Implementing advanced technologies and processes to improve service efficiency and customer satisfaction.

Technological Platform and Innovation

Proprietary Technologies

EnOS™ Operating System: An AIoT operating system developed by Envision Energy, managing over 200 GW of renewable energy assets, which Envision Cold leverages for energy management.

Significant Scientific Methods

Lean Management: Applying lean principles to optimize processes and reduce waste in cold storage operations.

Data Analytics: Utilizing data-driven insights to forecast demand, manage inventory, and enhance decision-making.

Leadership Team

Executive Profiles

Austin Solem – Chief Executive Officer (CEO): Co-founder of Envision Cold, Austin previously led Americold's M&A department and played a pivotal role in taking the company public in 2018.

Stephen Draper – Chief Operating Officer (COO): With 30 years of cold storage experience, Stephen was responsible for Americold’s operations in the Southeast region, overseeing approximately 50 facilities across 14 states and 3,000 employees.

Eric Diaz – Chief Financial Officer (CFO): Eric oversaw all regional and operations finance activities for North America Warehouse, Transportation, and 3PL Managed business segments at Americold.

Competitor Profile

Market Insights and Dynamics

The cold storage industry is experiencing significant growth due to increasing demand for perishable goods and global trade. This expansion presents opportunities for companies like Envision Cold to establish a strong market presence.

Competitor Analysis

FlexCold: Specializes in cold storage warehousing for temperature-sensitive food products, offering services such as inventory protection and logistics management.

Agile Cold Storage: Provides multi-temperature cold storage and logistics services, including automated warehousing and blast freezing.

Strategic Collaborations and Partnerships

Envision Cold has engaged a preeminent real estate development team to oversee all ground-up development projects, which is essential to its growth.

Operational Insights

Envision Cold differentiates itself through its comprehensive service offering, combining cold storage, transportation, import/export services, and real estate development to provide end-to-end cold chain solutions.

Strategic Opportunities and Future Directions

Envision Cold plans to continue acquiring and developing a network of facilities across North America, focusing on markets that are underserved by cold storage from both a physical infrastructure and customer service perspective.