DENVER - TelAve -- Red River Foods, Inc. ("Red River Foods"), a leading global supplier of nuts, seeds, dried fruits, snacks, and grains, and Agroforestry Partners, LLC ("Agroforestry Partners"), an impact investment fund focused on expanding agroforestry in the United States, have signed a memorandum of understanding ("MOU") to collaborate on the development of the U.S. chestnut market.

Chestnut acreage has grown meaningfully in the United States during the past 10 years, and this strong growth trend is anticipated to continue as farmers and landowners increasingly add chestnut trees to their farming landscapes in the pursuit of income diversity and conservation-related benefits.

Marking the announcement, Red River Foods CEO, Dan Phipps, said: "We are excited to enter into this MOU with Agroforestry Partners. We see significant potential for chestnuts in the United States and believe Red River Foods can play an important role in expanding value-added domestic supply to meet growing customer demand. Drawing on our decades of experience in the global nut sector, we are confident we can help build and strengthen demand for U.S. chestnuts."

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Agroforestry Partners Founder, Charlie Antrim, added: "When we launched our first agroforestry project four years ago, we identified two primary downstream risks: long-term demand and weather variability. Our relationship with Red River Foods directly addresses the demand and offtake component well in advance of our first anticipated commercial harvest. This MOU represents a meaningful milestone for Agroforestry Partners, the emerging domestic chestnut supply chain, and regenerative agriculture more broadly. We are grateful to Dan and the Red River team for their partnership and vision." Agroforestry Partners President, Brett Hundley, continued: "This agreement is the result of our sustained coalition-building within the nascent U.S. agroforestry sector. Chestnut trees are only a viable agroforestry solution if a durable market exists for their crops. This collaboration will help create that market foundation, benefiting growers across the country."

Red River Foods and Agroforestry Partners will work together to gauge customer interest in chestnuts, develop and test new products, formulate production plans, and diversify supply to reduce risk across the entire value chain.

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Chestnuts have been part of American food culture for centuries. While traditionally roasted and consumed fresh, chestnuts can also be incorporated into a wide range of value-added, shelf-stable products. Chestnut flour offers strong functional performance in gluten-free and non-GMO breads, snacks, baked goods, and pasta. Nutritionally, chestnuts are low in fat, high in fiber and potassium, and provide meaningful amounts of calcium, magnesium, and manganese.

About Red River Foods. Red River Foods is a leading global supplier of ethically sourced nuts, seeds, dried fruits, and specialty snacks, operating since 1986. The Richmond, Virginia-based company is vertically integrated, with over 50 products sourced from 40+ countries. It specializes in cashews, almonds, and ingredients for plant-based products.

About Agroforestry Partners. Agroforestry Partners is an impact investment fund focused on expanding agroforestry in the United States. We provide a turnkey financing solution to enable agroforestry conversion for farmers and landowners, while providing an uncorrelated, attractive nature-based investment opportunity for investors. We aim to fix the carbon cycle and improve climate health one acre at a time.