Limoneira and Tesla Power up to Save Energy Costs

New test project reduces energy demand at peak hours

SANTA PAULA, Calif.–(BUSINESS WIRE)–Limoneira Company (NASDAQ: LMNR), a leading agribusiness with prime
agricultural land and operations, real estate and water rights
in California, announced today the commissioning of a new joint project
with Tesla to reduce energy costs.

“This project will study the efficacy of battery systems paired to solar
manufacturing facilities,” said Mark Palamountain, Limoneira Senior
Director. “The goal is to reduce demand from the utilities during the
day, which is the high cost period, and offset that use with less
expensive night time energy that is stored in the battery.”

Limoneira has 6 solar installations across the company totaling 4.2M
kWhs annually. An additional solar project is planned for 2017 which
will add 1.5MWs on Limoneira’s packing house roof for 2.8M kwhs or a
total of 7M kwhs annually. This will enable the Company to be 50% off
the grid. The Company is on track to become completely energy
independent by 2022.

“Limoneira has a long history of land stewardship and sustainability,”
said Limoneira CEO Harold Edwards. “We will continue to make investments
that are clean as well as profitable.”

In addition to Limoneira’s solar operations, the company is a leader in
providing Work Force housing and has significant green waste recycling,
integrated pest management and water projects.

About Limoneira Company

Limoneira Company, a 124-year-old international agribusiness
headquartered in Santa Paula, California, has grown to become one of the
premier integrated agribusinesses in the world. Limoneira (pronounced lē
mon΄âra) is a dedicated sustainability company with over 11,000 acres of
rich agricultural lands, real estate properties, and water rights in
California, Arizona and Chile. The Company is a leading producer of
lemons, avocados, oranges, specialty citrus and other crops that are
enjoyed throughout the world. For more about Limoneira Company, visit www.limoneira.com.

Contacts

Investor Contact:
ICR
John Mills, 646-277-1254
Managing
Partner