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Two Rivers Water & Farming Company (TURV)

Two Rivers Water & Farming Company is building a new water model for the arid regions of the southwestern U.S. The company assembles its water assets through acquiring irrigated farmland with senior water rights because 85 percent of water rights in the arid southwest are owned by agricultural interests. Two Rivers transforms the value of its water rights and farmland by continually developing operations that produce higher revenues and better profit margins. Two Rivers Water & Farming is headquartered in Denver, Colorado. Its majority-owned subsidiary is GrowCo, Inc.

Two Rivers' current farm operations convert feed crop farmland into fruit and vegetable crop production in Pueblo County, Colorado. The company is providing greenhouses and processing facilities for licensed marijuana growers in Colorado on land with water rights not used for fruit and vegetable crop production. Additionally, Two Rivers develops Metropolitan Districts to serve underserved communities in rural regions in which Two Rivers' farmland and water rights are situated.

Concerning Farming, Two Rivers' produce sells to national accounts by way of its wholly-owned subsidiary Dionisio Farms & Produce. Regarding Water, Two Rivers owns a portfolio of water rights in the Arkansas River Basin in Colorado, obtained in connection with its purchases of irrigated farmland. Its water rights give it the ability to divert stream flow, operate storage reservoirs, pump ground water and augment depletions of water taken out of priority. Moreover, Two Rivers pumps water from the Arkansas River alluvium in addition to stream flow that it diverts from the Arkansas River and its tributaries.

The company's majority-owned subsidiary, GrowCo, was created in May 2014 to build greenhouses and processing facilities for lease to licensed marijuana growers in Colorado. GrowCo, via its subsidiaries, combines proprietary greenhouse technology with the water, land, and capital to build state-of-the-art greenhouse facilities for licensed marijuana growers. Growers leasing a GrowCo greenhouse can expect to grow a more natural premium product using the sun's energy and efficient water-based cooling systems rather than depending solely on costly artificial lights and air conditioning systems. GrowCo centers on the construction of cannabis greenhouses and providing financing and administrative services to the tenants of the greenhouses.

Recently, Two Rivers announced it completed a settlement agreement with the State of Colorado for the development of the Cucharas dam and reservoir. With this settlement, Two Rivers would temporarily lower the existing dam structure and build a new, more stable permanent dam. As part of the settlement discussions, Two Rivers discussed with the State the possibility of using the Two Rivers' Huerfano Cucharas Irrigation Company's (HCIC) reservoir and canal system, including the Orlando reservoir and canal, to cooperate with other water users in the creation of a new basin-wide augmentation plan. Two Rivers owns 95 percent of HCIC and 100 percent of the Orlando reservoir and canal.

GrowCo also recently announced it has entered into a series of agreements to recapitalize GrowCo, re-lease its greenhouse facilities, and formalize the ownership interest and relationship that Two Rivers has with GrowCo moving ahead.

 

 

 

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