Stock Track | Argan Soars as Flagship Sustainable Logistics Project Boosts Outlook

Stock Track10-16

Shares of Argan, the French real estate company specializing in premium warehouses, surged 7.59% on Tuesday after the company announced the completion of a major new logistics project that showcases its innovative and sustainable "Aut0nom®" warehouse concept.

Argan, in partnership with French retail giant Carrefour, has delivered an 82,000 square meter logistics facility in Mondeville, near Caen, Normandy. The project involved redeveloping a former Stellantis industrial brownfield site, limiting land usage and featuring extensive environmental measures.

The new facility, labeled as the largest "Aut0nom®" site in France, incorporates a range of sustainable features including a large rooftop solar power station, battery storage, heat pumps, and extensive tree planting across 41% of the site area. These measures result in extremely low CO2 emissions of just 1 kg per square meter per year, a fraction of emissions from traditional warehouses.

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