'ColdPort Closes Oversubscribed Q3 Funding Round to Accelerate National Expansion'

FOR IMMEDIATE RELEASE

ColdPort Closes Oversubscribed Q3 Funding Round to Accelerate National Expansion

[CITY, STATE] – October 10, 2024 – ColdPort, a premier developer and operator of technologically advanced cold storage infrastructure, today announced the successful closing of its Series B funding round. The heavily oversubscribed round secured significant growth capital from a consortium of leading infrastructure, real estate, and supply chain technology investors. This infusion of capital will rapidly accelerate ColdPort's strategic mandate to construct a modernized, highly efficient network of cold storage facilities at critical logistical bottlenecks across the United States.

The funding round reflects profound investor confidence in ColdPort's innovative business model, experienced leadership team, and the urgent market necessity for modernized cold chain assets. As global trade volumes for perishable goods continue to surge, the severe deficit of modern, port-adjacent cold storage has emerged as a critical vulnerability in the global supply chain, leading to inefficiencies, product loss, and increased emissions.

"We are thrilled to partner with this exceptional group of investors who share our conviction that the cold chain is in desperate need of a technological and infrastructural overhaul," said David Simpkins, Founder & CEO of ColdPort. "This capital injection is a massive vote of confidence in our team and our vision. It empowers us to aggressively execute our pipeline of prime development sites and deploy our proprietary operational technology on a national scale. We are not just participating in the market; we are aggressively redefining its standards."

The newly raised capital will be deployed primarily to fund the ongoing construction of ColdPort's flagship facilities, secure additional strategic land leases at major tier-one ports, and further enhance the company's proprietary warehouse management and energy optimization software stack. ColdPort's facilities are uniquely designed to offer ultra-high density storage, automated retrieval systems, and industry-leading energy efficiency, ensuring optimal conditions for a wide range of temperature-sensitive commodities.

"The legacy infrastructure that currently supports our food and pharmaceutical supply chains is fundamentally broken—it is outdated, inefficient, and environmentally unsustainable," Simpkins elaborated. "Our investors recognize that ColdPort's approach—building purpose-driven, highly automated facilities precisely at the points of maximum supply chain friction—represents the only viable solution to these systemic challenges. We are building the resilient, intelligent infrastructure that the 21st-century economy demands."

In addition to expanding its physical footprint, ColdPort will utilize a portion of the funds to scale its executive and engineering teams, attracting top-tier talent from the logistics, commercial real estate, and technology sectors. This talent acquisition strategy will be crucial as the company transitions from the development phase into active operations across multiple geographic markets.

The successful closing of this funding round positions ColdPort as a dominant emerging player in the industrial real estate and cold chain logistics sectors. With a robust balance sheet and a clear strategic roadmap, the company is exceptionally well-equipped to capitalize on the unprecedented demand for modern temperature-controlled infrastructure.

About ColdPort ColdPort is a forward-thinking infrastructure and logistics company dedicated to modernizing the global cold chain. Through the strategic acquisition, development, and operation of advanced cold storage facilities at key logistical bottlenecks, ColdPort provides highly efficient, sustainable, and technology-driven solutions for the handling of perishable goods.

Media Contact: ColdPort Communications media@gocoldport.com [Phone Number]