Netled Signs €15 Million Contract With Oh My Greens To Deliver Vera Vertical Farm To Sweden
July 13, 2021
Netled has signed a contract worth €15 million with Swedish herbs supplier, Oh My Greens.
Netled and Oh My Greens (OMG) have signed a contract for a three-year investment program that will see Netled deliver its Vera vertical farm to OMG, a Swedish supplier of potted herbs. The contract was signed in June 2021 and is worth a total of 15 million euros over three years. The contract also includes a five-year maintenance and cultivation consultancy service, and is estimated to be one of the largest turn-key technology deals specifically between the technology providers and farm operators in the indoor agriculture market to date.
The first delivery for the project is underway and is valued at 3.2 million euros; it is due in Q2 of 2022. After commissioning, Netled will continue to provide technical and consultancy services while OMG will focus on producing and supplying vegetables to retailers in Stockholm. The second phase of the investment plan is due to start in Q4/2022.
OMG is a farm operator company providing consumers with potted herbs and has ambitions to achieve a major market share in Sweden by the end of the investment program.
OMG is part of Applied Value Group, a Swedish-American investment, management consultancy, and social impact firm. OMG operates in Sweden together with its sister company, Bake My Day (BMD). BMD is a 25 million USD revenue company serving 800 customers with daily deliveries including around 400 grocery stores. Working together, BMD and OMG can offer a wide range of the highest quality fresh food products to retail throughout Stockholm and the Mälardalen region, covering 40% of the Swedish population.
“We considered 17 different vertical farming technology providers and came to the conclusion that, in terms of its technology, know-how, and delivery capabilities, Netled is years ahead of the competition,” says CEO of OMG, Moses Isik.
“Netled’s technical and horticultural knowledge, and decades of experience of growing technologies, combined with OMG’s superb logistic network and existing customer relationships, creates an unbeatable competitive advantage which will allow us to quickly increase our market share and supersede traditional herb production with sustainable and ecological vertical farming that will disrupt the existing supply structures.” he continues.
“Netled’s Vera vertical farming technology will allow us to provide customers throughout Sweden with fresher herbs and leafy greens, grown hyper-locally and with a significantly reduced carbon footprint”, Moses adds. “Not only does the customer benefit, but the planet does too!”
Netled Ltd. is the leading vertical farming technology provider in Finland. Netled’s Vera technology offers turn-key indoor farming systems which include a dynamic spacing system, LED lighting, HVAC, and a nutrition system. It also includes automation software, production management and horticulture intelligence software. The Vera family of growing systems range from the Instore growing cabinets to massive-scale Industrial systems.
“The cooperation with OMG and its sister company, BMD, creates a huge opportunity for Netled to increase its market presence in Sweden. It also solidifies our position as the global leader in vertical farming technology,” says CEO of Netled, Niko Kivioja. This contract is the first industrial-scale operation for Netled, which was previously focused on an urban farm scale.
“This contract not only allows OMG to produce fantastic products for customers throughout the whole of Sweden, but it also functions as a clear example to other farm operators of the industrial-scale applications and opportunities our Vera vertical farming technology is capable of.” Kivioja continues.
“Netled is now the premier provider of vertical farming technology globally and we intend to keep it that way.” he concludes.
More information:
Niko Kivioja
CEO, Netled Ltd.
+358 50 360 8121
Moses Isik
CEO, Applied Industries Holding AB
+46 704 269 267
Robert Brooks
Investor Relations & Communications Manager
+358 50 484 0003