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04 December 2023

Daily Newsletter

04 December 2023

Construction begins on Banks Cold Storage’s facility

The factory's design is said to be the country’s first of its kind.

December 04 2023

Banks Cold Storage has commenced construction of a 210,620ft² cold storage facility in Melbourne, Florida, US.

Owned and maintained by Banks Cold Storage, this design is located near Athens and approximately 70 miles east of Atlanta. It will include the latest refrigeration and freezing equipment available in the cold storage sector.

Construction work is set to be completed in the second quarter (Q2) of 2025.

The design of this advanced facility is said to be the country’s first of its type. US-based cold storage builder Ti Cold designed the building.

Ti Cold CEO and president Sam Tippmann said: “Ti Cold is committed to advancing the cold storage industry by providing innovative solutions that give our customers a distinct competitive advantage.

“Banks features a rarely seen combination of state-of-the-art elements like two deep push-back racking, VNA and 65ft-tall building height. We are excited to deliver a rock-solid facility to Banks.”

The cold storage plant will feature flexible, convertible architecture that can keep temperatures between 40°F and -20°F.

Low-charge ammonia systems will be used in the plant, employing natural, environment-friendly refrigerants in small quantities.

More than 29,520 pallet spaces will be accommodated by structural steel pallet racks. This contains places for the QFM in-rack freezing system, which integrates blast freezing technology and pallet racking.

With this facility, Banks Cold Storage will be equipped to provide third-party refrigerated logistics to its clients.

North America Construction market dynamics

Per GlobalData, the North America construction market size is expected to reach $1,772.5 billion in 2023. The energy and utilities construction sector is expected to depict a AAGR of 8.7% in real terms from 2024 to 2027, supported by investments in regional renewable energy and oil and gas projects.

IoT market for construction set to grow at a CAGR of ~16% by 2027

There is a huge opportunity for wearables in the construction industry. Several start-ups operate in this space: for example, Proxxi protects users from getting electrocuted, and Plinx uses proximity sensors for social distancing. Wearables can also improve communication channels between field and desk workers. As digitalization develops, wearables will become synonymous with construction work.

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