ColdPort Announces $500M Strategic Joint Venture to Accelerate National Expansion

NEW YORK, NY — May 24, 2026 — ColdPort, the premier developer of automated, port-centric cold storage infrastructure, today announced the closing of a $500 million strategic joint venture with a leading global alternative asset manager. This massive infusion of institutional capital will rapidly accelerate ColdPort’s national development pipeline, focusing on the construction of Class-A, high-bay automated facilities in critically underserved U.S. gateway markets.

The joint venture represents one of the largest single commitments of private equity capital to the cold storage sector this year, underscoring the intense institutional appetite for specialized, high-yield infrastructure assets.

"This partnership is a massive inflection point for ColdPort and the broader cold chain industry," stated David Simpkins, Founder and CEO of ColdPort. "We have proven our thesis that modernizing cold storage requires a completely new paradigm—marrying deep real estate expertise with advanced robotics and thermodynamic engineering. With this $500 million commitment, we are fully capitalized to execute our vision at scale and fundamentally reshape the national supply chain."

The capital from the joint venture will be deployed immediately to fund the ground-up development of four new mega-facilities located in prime logistics corridors:

• Port of Savannah, GA: A 450,000 sq. ft. multi-temperature hub focused on export poultry and imported produce.
• Port of Philadelphia, PA: A specialized deep-freeze facility tailored for pharmaceutical distribution.
• Port of Los Angeles, CA: A high-throughput transloading facility engineered to alleviate severe port congestion.
• Miami, FL: A strategic transshipment gateway serving the booming Latin American perishable trade.

Each facility will be built to ColdPort’s exacting proprietary standards, featuring fully automated AS/RS racking, autonomous pallet scanning, biometric security, and carbon-neutral operational capabilities through the use of natural refrigerants and extensive rooftop solar.

The institutional partner selected ColdPort due to its unparalleled expertise in navigating complex port authority leases and its ability to deliver sophisticated infrastructure on time and under budget. The joint venture structure provides the institutional partner with immediate exposure to the high-barrier-to-entry cold storage market, while allowing ColdPort to retain operational control and long-term asset management.

"The structural deficit in modern cold storage is well-documented," added Simpkins. "But the solution isn't just building more warehouses; it's building smarter infrastructure. This $500 million JV allows us to deploy the absolute bleeding-edge of automation, creating a network that is not only highly profitable but critically resilient."

Construction on the first two joint venture assets in Savannah and Philadelphia is slated to begin in Q3 2026.

About ColdPort ColdPort is a premier developer and operator of next-generation, automated cold storage infrastructure. Leveraging advanced robotics, artificial intelligence, and sustainable design, ColdPort provides high-density, temperature-controlled logistics solutions for the food, beverage, and pharmaceutical industries.

Media Contact: ColdPort Public Relations media@gocoldport.com