Nature’s Miracle Holding Inc., a vertical farming technology and infrastructure company, has officially launched NM Rebate Inc., a wholly owned subsidiary aimed at enhancing the company’s energy rebate financing segment. This initiative is expected to support sales and profit margins by helping offset the costs associated with installing LED lighting.
The launch of NM Rebate comes in response to opportunities created by the Inflation Reduction Act, which has prompted many utility companies to provide rebates for commercial customers upgrading to energy-efficient lighting solutions, including LED technology. These rebates can mitigate the initial installation costs and reduce future electricity expenses, and they apply to new constructions, upgrades, and LED replacements.
As a distributor of LED lights tailored for the commercial vertical farming sector, NM Rebate will complement Nature’s Miracle’s existing offerings. The new subsidiary will collaborate with financial institutions to facilitate rebate financing specifically for commercial indoor growers throughout the United States.
“We are excited to announce that Nature’s Miracle will provide our North American commercial vertical farming customers with additional rebate support through the institution of a funded energy rebate division as our owned subsidiary, NM Rebate Inc.”
Li emphasized the importance of managing rising energy costs, noting that commercial vertical farming businesses are increasingly focused on expense reductions that can enhance profitability, despite potential challenges to revenue growth in the long term. He highlighted NM Rebate Inc.’s unique program, which incentivizes the use of energy-efficient lighting, reduces capital expenditures, and supports increased productivity in the vertical farming industry.
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The introduction of NM Rebate Inc. positions Nature’s Miracle to capitalize on government rebate incentive programs while fostering growth in the commercial vertical farming market.