Welcome to iGrow News, Your Source for the World of Indoor Vertical Farming
Temasek Backs US $30m Firm For Vertical Farming Innovation to Boost Singapore's Food Supply
Called Unfold, it is a tie-up between Singapore state investment firm Temasek and a unit of German pharmaceutical and life sciences giant Bayer
Temasek Is Partnering With A Unit of Bayer To Form A US $30 Million
Company To Develop Breakthroughs In Vertical Farming.
August 12, 2020
SINGAPORE - A new US $30 million (S$41.2 million) company has been formed to develop breakthroughs in vertical farming, a move that will help to further reinforce Singapore's food supply.
Called Unfold, it is a tie-up between Singapore state investment firm Temasek and a unit of German pharmaceutical and life sciences giant Bayer.
The Straits Times understands that they will have an equal share of the company, which is incorporated in the United States.
Its primary focus is on improving the quality and variety of food as well as boosting the efficiency of its production, including that of popular vegetables such as lettuce and spinach.
In doing so, it will ensure the safe and reliable supply of food, something that is vital for countries with little arable land and in times of crisis like the Covid-19 pandemic, said Bayer on Wednesday (Aug 12), when announcing the union between its investment unit Leaps by Bayer and Temasek.
Temasek's head of agribusiness, Mr. John Vaske, noted that food security is a priority for Singapore, pointing to the country's "30 by 30" goal, which is to produce 30 percent of its nutritional needs locally by 2030.
He also told The Straits Times that Singapore has been formative in developing vertical farming. "So, we have insights and knowledge of the industry that Unfold can benefit from through the set-up of its commercial, research, and development operations here."
These operations will also be established in California, where Unfold will be headquartered in the city of Davis.
The focus on the genetic potential of vertical farming also sets the company apart from most vertical farming start-ups, which invariably concentrate on developing more efficient infrastructures, Bayer said.
The aim of the venture is to improve the quality and variety of food as well as boost the efficiency of its production. PHOTO: BAYER STOCK PHOTOS
Unfold has already entered into an agreement for specified rights to germplasm, or seed genetics, from Bayer's vegetable portfolio, a move that will enable it to develop new varieties of seeds. It also plans to come up with agronomic advice that is tailored for growing crops in the unique indoor environment of vertical farms.
These farms, also known as indoor farms, leverage on artificial light to grow crops, are less dependent on man-made chemicals, and optimize the use of water.
The company's chief executive officer is Dr. John Purcell, who was previously Bayer Crop Science's head of vegetable seeds research and development, said Bayer in its statement.
Dr. Purcell said that Unfold's investment in germplasm and crop growth models is timely as the two fields are "largely underserved"."
Some technology companies do not have access to germplasm resources. The power of Unfold is that we will combine the expertise and 100 percent focus on the genetics for vertical farming, with access to the best in class germplasm of the Bayer vegetable seed business," he added.
www.bayer.com
www.leaps.bayer.com
www.temasek.com.sg
unfold.ag
Lead Photo: PHOTO: BAYER STOCK PHOTO
FREE WEBINAR: CEO Panelists To Discuss "How To Get Indoor Farm Up and Running" on July 22, 2020 @ 2 PM EST
Whether just starting out or looking for fresh new ideas to bolster a current operation, the CEO panelists joining the July 22, 2020, Indoor Ag-Conversations free webinar series from Indoor Ag-Con will offer participants a wealth of business-building ideas to get a farm going and growing
Leaders From Kalera, Vertical Harvest, Artesian Farms, & Danforth Plant Science Center Join Indoor Ag-Conversations Webinar Series
LAS VEGAS (July 13, 2020) –Whether just starting out or looking for fresh new ideas to bolster a current operation, the CEO panelists joining the July 22, 2020, Indoor Ag-Conversations free webinar series from Indoor Ag-Con will offer participants a wealth of business-building ideas to get a farm going and growing. Moderated by Claire Kinlaw, Director of Innovation Commercialization, The Donald Danforth Plant Science Center, "How To Get An Indoor Farm Up & Running" webinar panelists include Daniel Malechuk, CEO, Kalera; Nona Yehia, CEO & Co-Founder, Vertical Harvest; and Milan Kluko, CEO, Artesian Farms LLC.
During the 60-minute session, the panel will cover a number of topics and issues like:
Crops: types, traits, sourcing
Customers: profiles, targets, buying interests
Selling: direct to consumer, distributors, grocery chains
Technology: what’s best suited for geography, crop, scales of production
Founding Team Skills: technical, agronomic, sales/marketing, biology/genetics
CapEx – How and where to access funds to get established
Indoor Ag-Conversation webinars are free to industry members. To register for the upcoming July 22, 2020 session, visit www.indoor.ag/webinar. Indoor Ag-Conversations presenters include:
Claire Kinlaw, Director of Innovation Commercialization, Danforth Plant Science Center --Claire combines science research and business knowledge along with experience with startup companies to support commercialization of innovative technologies in agriculture. She began work at the Danforth Center in February of 2019. She promotes the commercial impact of the Center’s intellectual property through such activities as patent filing, license agreements, and oversite for an innovation incubation program (IN2, funded by the Wells Fargo Foundation). IN2 accelerates early-stage agriculture technologies into the market through the execution of validating research for companies in collaboration with the Danforth Center.
Daniel Malechuk, CEO, Kalera -- A food industry veteran, Daniel Malechuk has spent his career managing and growing several of the world’s leading food, grocery, and produce companies. As a leader in the industry, Daniel has worked in both sales and supply chain optimization and has built sustainability programs for companies such as Shamrock Foods, Kalera HyCube, Keysource Foods, and ALDI. While at Shamrock Foods, Malechuk led the retail division and drove explosive revenue and profitability growth and expansion across the Southwest. Daniel also served as Vice President at Keysource Foods, where he led company strategy and sales operations and negotiated contracts with some of the world’s largest food companies, including ConAgra, Carnival Corporation, PF Chang’s, ALDI, and Sysco.
Nona Yehia, Co-Founder & CEO, Vertical Harvest -- Nona Yehia is uniquely positioned in the vertical farming sphere. She is at once a practicing Architect and the Co-Founder and CEO of the 1st vertical hydroponic greenhouse in the United States. Vertical Harvest of Jackson Hole is a cutting-edge commercial-scale greenhouse that not only grows food for communities, in communities~ but futures for those who need it most.
Following her passion for local food and experiences growing up with a brother with developmental disabilities, Nona conceived of a three-story hydroponic greenhouse that employs people with developmental disabilities while producing local food for the community year-round. In 2016 Vertical Harvest opened its doors.
Milan Kluko, CEO & Co-Founder, Artesian Farms LLC & Berrien Processing Solutions (BPS) -- Milan Kluko has been in the environmental engineering, alternative energy, agriculture, and solid waste industry as an engineering consultant, developer, vendor, and technology supplier for 38 years. For nearly four decades he has worked on developing recycling and solid waste reduction programs, sustainable agriculture, renewable energy, and low impact development projects worldwide. From 2001-2015 Mr. Kluko worked on worldwide projects as a sustainability consultant for the Coca Cola Company. During the past several decades his focus has been primarily on “project-based” assignments gaining significant expertise with a wide variety of environmental, agriculture, alternative energy, and recycling systems starting in 1982.
Indoor Ag-Con LLC created the new Indoor Ag-Conversations series to share content originally planned for its May 2020 in-person annual conference that was postponed due to the Covid-19 pandemic. More details on the upcoming and future sessions, as well as recordings of previous webinars, are available at www.indoor.ag/webinar.
ABOUT INDOOR AG-CON LLC
Founded in 2013, Indoor Ag-Con touches all sectors of the business, covering produce, legal cannabis, hemp, alternate protein, and non-food crops. In December 2018, three event industry professionals – Nancy Hallberg, Kris Sieradzki, and Brian Sullivan – purchased Indoor Ag-Con LLC, setting the stage for further expansion of the events globally. For more information, visit: www.indoor.ag