Kalera – Curtis McWilliams proposed as new member of the Board of Directors

28 Jun 2021 14:00 CEST

Company Name

KALERA

ISIN

NO0010874597

Market

Euronext Growth

Symbol

KAL

McWilliams, the former President and CEO of the nation’s largest restaurant REIT
and a seasoned independent director of a number of publicly traded corporate
boards, brings a wealth of experience as Kalera prepares for rapid domestic and
international expansion

ORLANDO June 28, 2021 -- Kalera (Euronext Growth Oslo ticker KAL, Bloomberg:
KSLLF), one of the fastest-growing and largest vertical farming companies in the
world and a leader in plant science for producing high-quality produce in
controlled environments, today announced the proposed appointment of Curtis
McWilliams to its Board of Directors. In addition, it is expected that
McWilliams will chair Kalera’s Audit Committee responsible for oversight of the
financial reporting and disclosure process. An executive with deep experience
in mergers & acquisitions, real estate, corporate governance as well as
financial accounting and analysis, McWilliams brings nearly 40 years of
executive leadership and experience to the Kalera board. After an extended
career in investment banking with Merrill Lynch, McWilliams transitioned to the
CEO of Trustreet Properties where over the course of the following 10 years, he
oversaw the growth of the company from under $100 million to over $3 billion
when it was sold to GE Capital in 2007. He presently is the non-executive chair
of Ardmore Shipping Corporation (NYSE: ASC), an independent director for Braemar
Hotels & Resorts (NYSE: BHR) and lead independent director for Modiv Inc.
McWilliams has previously chaired the audit committee for CNL Bank and presently
serves as chair of the audit committee for Braemar Hotels as well as serving on
the audit committee for Ardmore Shipping.

The addition of McWilliams to the board coincides with Kalera’s rapid expansion
into several new markets and its acquisition of Vindara Inc., the first company
to develop seeds specifically designed for use in vertical indoor farm
environments as well as other controlled environment agriculture (CEA) farming
methods.

“We are thrilled and honored to have Curtis McWilliams join Kalera’s Board,”
said Bjorge Gretland, Chairman. “Curtis has been tremendously successful as a
CEO and has extensive experience chairing Audit Committees. He also brings
valuable expertise doing M&A deals. I am confident he will be a strong
contributor to Kalera’s success.”

In addition to his aforementioned business experience, McWilliams also has
served on numerous civic and non-profit boards including the Orlando Museum of
Art and Young Life. McWilliams received his BSE in Chemical Engineering from
Princeton University and his MBA from the University of Chicago with a
concentration in finance.
“There has never been a more pressing need for vertical farming than there is
today. I’m honored and excited to have the opportunity to join the Board at
Kalera, the leader in this innovative and disruptive industry,” said Curtis
McWilliams. “I look forward to working with Kalera as they continue to grow and
expand domestically and abroad.”

Kalera currently operates two growing facilities in Orlando and a newly opened
facility in Atlanta, and is building facilities in Houston, Denver, Columbus,
Seattle, Minnesota, and Hawaii. Kalera is the only controlled environment
agriculture company with coast-to-coast facilities being constructed, offering
grocers, restaurants, theme parks, airports and other businesses nationwide
reliable access to locally grown clean, safe, nutritious, price-stable,
long-lasting greens. Kalera uses a closed-loop irrigation system which enables
its plants to grow while consuming 95% less water compared to field farming.

The appointment of Curtis McWilliams as member of the Board of Directors will be
presented for approval by Kalera’s shareholders at a general meeting and is
expected to take effect upon completion of the contemplated merger between
Kalera AS and the new Luxembourg parent for the group, which was announced
previously.


For further information:

Bjørge Gretland, Chairman
Email: bgretland@kalera.com


About Kalera

Kalera is a technology driven vertical farming company with unique growing
methods combining optimized nutrients and light recipes, precise environmental
controls, and clean room standards to produce safe, highly nutritious,
pesticide-free, non-GMO vegetables with consistent high quality and longer shelf
life year-round. The company’s high-yield, automated, data-driven hydroponic
production facilities have been designed for rapid rollout with industry-leading
payback times to grow vegetables faster, cleaner, at a lower cost, and with less
environmental impact. To learn more visit www.Kalera.com.


This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


Source

Kalera AS

Provider

Oslo Børs Newspoint