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Indoor Farms Gaining Investors As Pandemic Disrupts Food Supplies
Seed money from investors is helping indoor farms to position themselves as one of the solutions to climate change and pandemic-induced disruptions to the harvesting, shipping, and sale of food
BY KAREN GRAHAM
BY KAREN GRAHAM | 02-19-21
IN TECHNOLOGY
Seed money from investors is helping indoor farms to position themselves as one of the solutions to climate change and pandemic-induced disruptions to the harvesting, shipping, and sale of food.
When the coronavirus pandemic hit, it also exposed major issues with our food supply chain, including some issues that have already been attributed to climate change-related impacts.
The COVID-19 pandemic created shipment delays, and with inadequate demand forecasting, store produce departments suffered. This is when local vertical farms and indoor growing operations were able to step in and "fill in the gaps in a way that was unprecedented," writes GreenBiz
Water scarcity has been exacerbated in recent years by growing urbanisation and increasing demand from agriculture and industry. Fethi Belaid, AFP/File
There is a whole list of companies that are planning to build on their newfound momentum in 2021. And indoor farming is expected to grow. In 2019, revenue from vertical farming alone was estimated at $212.4 million. Forecasts now call for the industry to hit $1.38 billion by 2027, a compound annual growth rate of 26.2 percent from 2021 to 2027.
There are a number of established key players in the indoor and vertical farming industry, including Amazon-backed BrightFarms, AeroFarms, and Plenty reports Reuters.
An acceleration in funding for this industry lies ahead, after pandemic food disruptions - such as infections among migrant workers that harvest North American produce - raised concerns about supply disruptions, said Joe Crotty, director of corporate finance at accounting firm KPMG, which advises vertical farms and provides investment banking services.“The real ramp-up is the next three to five years,” Crotty said.
First developed around a decade ago, vertical farms have taken off in Asia and the United StatesThibault Savary, AFP
Vertical farming saves space
Vertical farms are a type of controlled-environment agriculture, which aims to optimize plant growth using soilless farming techniques such as hydroponics, aquaponics, and aeroponics. Vertical farms grow leafy greens indoors in stacked layers or on walls of foliage inside of warehouses or shipping containers.
The main advantage of utilizing vertical farming technologies is the increased crop yield that comes with a smaller unit area of land requirement.
The U.S. Department of Agriculture (USDA), says urban farming increases food security at a time of rising inflation and limited global supplies. And the USDA is seeking members for a new urban agriculture advisory committee to encourage indoor and other emerging farm practices.
More about indoor farms, food supply, technology, food security
Read more:http://www.digitaljournal.com/tech-and-science/technology/indoor-farms-gaining-investors-as-pandemic-disrupts-feeo-supplies/article/585761#ixzz6mwBqwKxt
Investors Seed Indoor Farms As Pandemic Disrupts Food Supplies
Proponents, including the U.S. Department of Agriculture (USDA), say urban farming increases food security at a time of rising inflation and limited global supplies. North American produce output is concentrated in Mexico and the U.S. Southwest, including California, which is prone to wildfires and other severe weather
Wausau, WI, USA Stevens Point
Feb 18, 2021
By Rod Nickel
(Reuters) - Investors used to brush off Amin Jadavji's pitch to buy Elevate Farms’ vertical growing technology and produce stacks of leafy greens indoors with artificial light.
"They would say, 'This is great, but it sounds like a science experiment,'" said Jadavji, CEO of Toronto-based Elevate.
Now, indoor farms are positioning themselves as one of the solutions to pandemic-induced disruptions to the harvesting, shipping, and sale of food.
"It's helped us change the narrative," said Jadavji, whose company runs a vertical farm in Ontario, and is building others in New York and New Zealand.
Proponents, including the U.S. Department of Agriculture (USDA), say urban farming increases food security at a time of rising inflation and limited global supplies. North American produce output is concentrated in Mexico and the U.S. Southwest, including California, which is prone to wildfires and other severe weather.
Climate-change concerns are also accelerating investments, including by agribusiness giant Bayer AG, into multi-storey vertical farms or greenhouses the size of 50 football fields.
They are enabling small North American companies like BrightFarms, AppHarvest and Elevate to bolster indoor production and compete with established players AeroFarms and Plenty, backed by Amazon.com Inc founder Jeff Bezos.
But critics question the environmental cost of indoor farms' high power requirements.
Vertical farms grow leafy greens indoors in stacked layers or on walls of foliage inside of warehouses or shipping containers. They rely on artificial light, temperature control and growing systems with minimal soil that involve water or mist, instead of the vast tracts of land in traditional agriculture.
Greenhouses can harness the sun's rays and have lower power requirements. Well-established in Asia and Europe, greenhouses are expanding in North America, using greater automation.
Investments in global indoor farms totaled $394 million in 2020, AgFunder research head Louisa Burwood-Taylor said.
The average investment last year doubled in size, as large players including BrightFarms and Plenty raised fresh capital, she said.
A big funding acceleration lies ahead, after pandemic food disruptions - such as infections among migrant workers that harvest North American produce - raised concerns about supply disruptions, said Joe Crotty, director of corporate finance at investment bank KPMG, which advises vertical farms.
"The real ramp-up is the next three to five years," Crotty said.
Vegetables grown in vertical farms or greenhouses are still just a fraction of overall production. U.S. sales of food crops grown under cover, including tomatoes, cucumbers and lettuce, amounted to 790 million pounds in 2019, up 50% from 2014, according to the USDA.
California's outdoor head lettuce production alone was nearly four times larger, at 2.9 billion pounds.
USDA is seeking members for a new urban agriculture advisory committee to encourage indoor and other emerging farm practices.
PLANT BREEDING MOVES INDOORS
Bayer, one of the world's biggest seed developers, aims to provide the plant technology to expand vertical agriculture. In August, it teamed with Singapore sovereign fund Temasek to create Unfold, a California-based company, with $30 million in seed money.
Unfold says it is the first company focused on designing seeds for indoor lettuce, tomatoes, peppers, spinach and cucumbers, using Bayer germplasm, a plant's genetic material, said Chief Executive John Purcell.
Their advances may include, for example, more compact plants and an increased breeding focus on quality, Purcell said.
Unfold hopes to make its first sales by early 2022, targeting existing farms, and start-ups in Singapore and the United Kingdom.
Greenhouses are also expanding, touting higher yields than open-field farming.
AppHarvest, which grows tomatoes in a 60-acre greenhouse in Morehead, Kentucky, broke ground on two more in the state last year. The company aims to operate 12 facilities by 2025.
Its greenhouses are positioned to reach 70% of the U.S. population within a day's drive, giving them a transportation edge over the southwest produce industry, said Chief Executive Jonathan Webb.
"We're looking to rip the produce industry out of California and Mexico and bring it over here," Webb said.
Projected global population growth will require a large increase in food production, a tough proposition outdoors given frequent disasters and severe weather, he said.
New York-based BrightFarms, which runs four greenhouses, positions them near major U.S. cities, said Chief Executive Steve Platt. The company, whose customers include grocers Kroger and Walmart, plans to open its two largest farms this year, in North Carolina and Massachusetts.
Platt expects that within a decade, half of all leafy greens in the United States will come from indoor farms, up from less than 10% currently.
"It's a whole wave moving in this direction because the system we have today isn’t set up to feed people across the country," he said.
'CRAZY, CRAZY THINGS'
But Stan Cox, research scholar for non-profit The Land Institute, is skeptical of vertical farms. They depend on grocery store premiums to offset higher electricity costs for lighting and temperature control, he said.
"The whole reason we have agriculture is to harvest sunlight that’s hitting the earth every day," he said. "We can get it for free."
Bruce Bugbee, a professor of environmental plant physiology at Utah State University, has studied space farming for NASA. But he finds power-intensive vertical farming on Earth far-fetched.
"Venture capital goes into all kinds of crazy, crazy things and this is another thing on the list."
Bugbee estimates that vertical farms use 10 times the energy to produce food as outdoor farms, even factoring in the fuel to truck conventional produce across country from California.
AeroFarms, operator of one of the world's largest vertical farms, a former New Jersey steel mill, says comparing energy use with outdoor agriculture is not straightforward. Produce that ships long distances has a higher spoilage rate and many outdoor produce farms use irrigated water and pesticides, said Chief Executive Officer David Rosenberg.
Vertical farms tout other environmental benefits.
Elevate uses a closed loop system to water plants automatically, collect moisture plants emit and then re-water them with it. Such a system requires 2% of the water used on an outdoor romaine lettuce operation, Jadavji said. The company uses no pesticides.
"I think we're solving a problem," he said.
(Reporting by Rod Nickel in Winnipeg, Manitoba; additional reporting by Karl Plume in Chicago; Editing by Caroline Stauffer and Lisa Shumaker)
“COVID Is Helping The World to Re-Examine Its Values” - Says Plenty's Co-Founder Nate Storey
According to Dr. Nate Storey, co-founder and chief science officer at Plenty, supply chain disruptions have sometimes resulted in Plenty’s greens being the only fresh products on grocery store shelves
With all the health concerns and supply chain disruptions resulting from the pandemic, many consumers are looking for locally and responsibly produced fruits and vegetables. And Plenty is firing on all cylinders to meet this increased demand.
According to Dr. Nate Storey, co-founder and chief science officer at Plenty, supply chain disruptions have sometimes resulted in Plenty’s greens being the only fresh products on grocery store shelves. The company has also seen its purchase rates increase during the pandemic, with more people consuming fresh produce. As the world looks forward to a post-pandemic “new normal,”, Nate is optimistic about the future of Plenty and indoor farming
Dr. Nate Storey, co-founder and chief science officer
“I expect that even after COVID, we will see these trends continuing. Once people really get used to eating fresh products, especially ours which are consistently good, it will be very hard for them to go back to old habits. COVID is helping us re-examine our values,” says Nate.
With respect to consumer trends in 2021, Plenty expects an extension of trends that emerged in 2020, namely the increasing number of people who are exploring home cooking options, which has also fostered an awareness of high-quality ingredients. According to Nate, “when home cooking, it doesn’t take long to really start valuing high-quality ingredients. So I think that we’ll see a growth in the quality-focused parts of the produce industry. I think that we’re going to see a trend towards boosting immune health and creating snackable products, as people begin to incorporate more produce into snacks.”
Plenty's recently launched product packaging
As such, quality is of the utmost importance to Plenty. The company approaches quality from three main angles, one being the real value of the product. As Nate explains, ensuring real value of their products means a commitment to offering consumers an attractive product whose packaging attracts consumers and preserves the product as long as possible.
“We ask ourselves: how can we give people three weeks, a month or as much time as possible? Hopefully, the product is consumed within a few days but for people who are watching their budgets, knowing that the product will last improves the value of the product,” says Nate.
More importantly, the company is focused on the quality of the greens themselves. Through careful varietal selection and precise control of the growing environment, Plenty produces greens with the best loft, consistency, texture and nutritional quality. The company’s third approach to quality, according to Nate, is its commitment to delivering a consistent product every day of the week. This consistent production, a major advantage of indoor farming overall, allows growers to eliminate seasonality so that consumers can count on the greens’ quality at any time of the year.
Propagation space in Plenty's San Francisco farm
Plenty’s commitment to the highest quality standards is reflected in the company’s mission, which is the provision of fresh, healthy food to people all over the world. As Nate explains, field-based agriculture currently produces only 30% of the global population’s needs for a healthy diet.
“We’re in the business of figuring out how we produce massive amounts of produce for consumers and make sure that they can supplement their diets with enough fruits and vegetables. Vertical farming and Plenty works to fill the void between 30% of what the world needs and 100% of what the world needs,” says Nate.
Plenty is also addressing consumers’ desire for sustainably produced fruits and vegetables by constantly working to improve water, space and energy use efficiency. Aside from environmental sustainability, the company strives for social sustainability by working to integrate itself into the communities where the farms are located by creating jobs and becoming a part of the local food system and culture.
For more information:
Plenty
Lizi Sprague
lizi@spronguepr.com
www.plenty.ag
Source: Publication date: Fri 12 Feb 2021
Source: Author: Rebekka Boekhout
© VerticalFarmDaily.com
Indoor Farming Industry Gets Boost From COVID-19
The coronavirus pandemic has caused a major shift in dining out and led many Americans to become more familiar with their kitchens than ever before
By Steve Bradley
The coronavirus pandemic has caused a major shift in dining out and led many Americans to become more familiar with their kitchens than ever before. In fact, according to the 2020 “America Gets Cooking” report commissioned annually by Hunter, a food and beverage public relations and marketing communications consultant, more than half (54 percent) of Americans report they are cooking more during the pandemic. 1
Thirty-nine percent said in a survey they are trying to eat healthier, with many saying they are becoming adventurous in the kitchen, trying new ingredients, brands, and products. 1 Salads and vegetables are two of the top five food items survey respondents say they are preparing more.
This presents a tremendous opportunity for grocers to meet this demand for preparing meals at home, as well as a growing desire to maintain a healthy diet during the pandemic to assist in fighting off the unwanted pounds associated with staying at home.
Fresh produce can play a key role in eating healthy but is not something that can easily be ordered through an online retailer like non-perishable goods. Shoppers like to hold and visually inspect produce for freshness, firmness, crispness, color, and other desirable characteristics.
In short, fresh produce is a primary driver of traffic into grocery stores.
Additionally, consumers also want to know that what they are buying can be trusted. Salmonella, e-coli, and other pathogens have unfortunately made their way into our fresh produce supply, causing massive recalls, illnesses, and even deaths. Consumers want to know they are buying a safe product and – increasingly – want to know more about where it came from and how it was grown. Words like “organic,” “non-GMO” and “locally sourced,” have become part of everyday language for many Americans.
Leading indoor farming companies, like BrightFarms, offer hydroponically grown, “cleaner than organic” packaged salads that results in a higher-quality product that consumers can trust. Even produce labeled “organic” has likely been treated with chemicals such as pesticides and herbicides. This also means the consumption of water, land, and costs associated with shipping produce are dramatically reduced. Additionally, locally grown means the quality is preserved through a much shorter shipping process, while also relying on less fuel due to shorter travels to market.
Controlled-environment agriculture ensures produce is not subjected to the whims of nature, such as drought, excessive rain, or other weather patterns.
In many ways, the BrightFarms’ model of bringing local produce around the U.S. into commercial stores has the potential to disrupt the multi-billion-dollar leafy greens industry. Few people could have likely imagined 10 years ago that hailing a taxicab would no longer be the “go-to” for getting around town. Similarly, corporations, with the ability to look around corners and see the future, are re-imagining how consumers get high-quality local produce onto dining room tables.
We need to feed a growing population in a more efficient way – not tied to any one certain geographic area. Investments in cleantech-focused on resource efficiency, resiliency, and adaptation. Local, sustainable, controlled environment produce consumers can trust gives us that opportunity. We believe it is possible to make the world a better place – building a better future for the next generation – while also growing business and creating jobs.
Steve Bradley serves as vice president of Cox Cleantech at Cox Enterprises, Inc. based in Atlanta, Georgia.
GREENHOUSE VERTICAL FARM BUSINESS TECHNOLOGY CLIMATE HYDROPONICS
Hunter. (2020). SPECIAL REPORT, America Gets Cooking: The Impact of COVID-19 on American’s Food Habits. [Food Study]. Retrieved from https://bit.ly/38DIhsR
Global CEA Census Report Shows Continued Positivity Despite COVID-19
Data captured over an 8-week period show 95% of growers have an optimistic outlook for the next 12 months with all types of operations including greenhouses, shipping containers, tunnel and vertical farms showing profitability
1 DECEMBER 2020
Autogrow and Agritecture Consulting have released the 2nd Annual CEA Census Report highlighting positive signs of growth despite the global pandemic.
Data captured over an 8-week period show 95% of growers have an optimistic outlook for the next 12 months with all types of operations including greenhouses, shipping containers, tunnel and vertical farms showing profitability.
“The optimism reflects what we have seen across many areas of the industry including increased technology adoption and increased consumer expenditure on fresh produce. And despite the challenges we’re seeing an overwhelming number of new entrants into the market,” says Autogrow CEO Darryn Keiller.
“What has not changed is the high percentage of new growers, almost 50%, that have no experience in agriculture before starting their business. That lack of experience has an impact on new technology solutions created and the need for more education to be available to support them. It also shows a real desire to make a difference considering their willingness to start during a pandemic.”
Respondents from 58 countries shared their views on their farming practices, financials, and the impact of COVID-19. The report also gave insight on three key growth regions around the world – India, the UK, and MENA (Middle East & North Africa).
"The results of the 2020 Census confirmed our hypothesis that the UK, India, and MENA regions are the emerging hotspots for CEA, albeit for different reasons. In the UK, Brexit is driving investment towards CEA to combat supply chain risks, while in India rising population and increased premium consumer demand for clean food are driving CEA. In the MENA region, government responses to COVID-19 have accelerated policies and incentives for developing scalable CEA solutions,” explains Agritecture Consulting Founder Henry Gordon-Smith.
“All of these regions present great opportunities for the CEA industry to grow and make a meaningful impact on their respective local conditions.”
Other takeaways from the Census:
· CEA businesses showing optimism and resilience despite the COVID hurdles
· 88% of growers surveyed are below age 50
· 29% of respondents receive funding from multiple sources
RECEIVE THE FREE REPORT!
MEDIA QUERIES
Kylie Horomia, Head of Brand & Communications
(e) Kylie.horomia@autogrow.com
(m) +6421 733 025
(w) www.farmroad.io www.autogrow.com
Sales queries – info@farmroad.io
Briana Zagami, Agritecture Media Strategist
(e) briana@agritecture.com
About Autogrow
Autogrow leverages the power of technology, data science, and plant biology to provide indoor growers affordable, accessible, and easy-to-use innovation – 24/7, anywhere in the world.
Our solutions support growers and resellers in over 40 countries producing over 100 different crop types.
We are the experts in Controlled Environment Agriculture (CEA) and continue to stay ahead of a rapidly evolving landscape.
About Agritecture Consulting
Agritecture Consulting provides a comprehensive approach to CEA project development.
In operation since 2014, Agritecture has helped more than eighty organizations determine the feasibility of their ideas, validate their business strategies, recruit talent for their projects, and manage operational challenges.
Our job is to jumpstart your knowledge of CEA, help you navigate barriers to entry, make industry connections, and mitigate risk. Our consulting services are backed by several years of operations data and a team of experienced growers, engineers, and sustainability managers.
FURTHER READING:
AUTOGROW AND AGRITECTURE RELEASE FIRST-EVER GLOBAL CEA CENSUS REPORT
GLOBAL CEA CENSUS LAUNCHED TO HELP DRIVE AGRICULTURE INDUSTRY FORWARD
Staying On Track When The Path Keeps Zigzagging
On January 6, 2020, when I pulled the trigger to turn this dream of mine called “Second Chances Farm” into reality by hiring the first cohort of returning citizens who were formerly incarcerated, I had no idea how challenging 2020 would be
A Second Chances Farms Blog
by Ajit Mathew George
Sir Richard Branson is often credited with the saying, “If dreams don’t scare you, they are too small.” As the year 2020 draws to an end, I admit to you that my dreams for Second Chances Farm have scared me far more often than I want to admit. What a ride it has been.
On January 6, 2020, when I pulled the trigger to turn this dream of mine called “Second Chances Farm” into reality by hiring the first cohort of returning citizens who were formerly incarcerated, I had no idea how challenging 2020 would be. All startups are nerve-racking, but as a veteran entrepreneur, I thought I knew what I was getting into. But COVID scattered my best-laid plans like a tropical hurricane. We had to learn how to pivot to stay alive in these trying circumstances – to carve out a track when the path continued to zigzag.
It often seems that planning beyond the Coronavirus is an exercise in futility, especially in communities that are disparately devastated by the pandemic. Yet, our plans for Second Chances Farm in Opportunity Zones in Wilmington, North Philadelphia, Chicago and Las Vegas, all of which are in fresh-food deserts, will hopefully upend neighborhoods plagued by economic inequities and innovate in a way that transforms lives and social outcomes while addressing urban blight and economic decline.
Second Chances Farm hopes to jumpstart the lives of formerly incarcerated persons by providing a path of hope for the hopeless and by becoming a model for compassionate capitalism. We believe the best way to stop people from re-offending and returning to prison is to help them see a future worth working toward.
Fulfilling my dream depends upon that concept of “compassionate capitalism.” At Second Chances Farm, we’ve established a for-profit business model that is sustainable long-term because it is profitable. That’s the capitalism part.
But inextricably interwoven in the model is compassion – for our returning citizens, our disadvantaged neighbors, and local people living in food deserts. That’s why we’re located in an Opportunity Zone in the poorest area of Wilmington. That’s why we invest time developing partnerships that support the delivery food to Riverside, Wilmington, New Castle, and other forgotten neighborhoods. That’s why we’re investing in educating children and their parents on ways to eat healthy.
Of course, I strongly support non-profits in their mission and work to help people in crisis. But our business model is different: we want to give people the tools to become entrepreneurs in their own right – again, capitalists – to be successful in the future. And we hope, in turn, they may take on that mission to reach out to help nurture and train others going forward.
If there is any reason why we continue to be disrupters for good with our social impact project, please read this letter — published with permission — that I received this past weekend from someone I don’t know.
November 28, 2020
Dear Mr. George:
I am writing to you in hopes I can gather information regarding Second Chances Farm.
My nephew is presently in Pauling County Jail. His life’s story you most likely have heard and seen time and again. He got into a wrong group; trying to find acceptance by someone. Liam got himself in trouble with stealing, drugs took them) while he was dreaming for help inside... some direction... abusive home life starting at a very young age.
Liam is 19; had no childhood, as you and I may have known it. He is a good good soul. Just a rotten home life.
Liam almost graduated from high school but all the above was instrumental in why he didn’t. While in school he found agriculture very interesting and was going to further that education after graduation. He went from getting student of the month(s) to where he is... It’s a long painful life story.
His grandmother (my sister) he adores... he talks with her often (every day). I have been trying to help her deal with this crisis in her life mostly because she is battling breast cancer during all of Liam’s problems.
While looking for an agricultural future for him once released, my sister and I came across Second Chances Farm! We have been so excited about your wonderful program and I decided I’d write to you get more information on top of the very informative info on your site. Starting with the first step to completing what has to be done... I imagine an application to start. Would you be so kind as to provide me with this info and anything else to start the process of getting accepted into your stellar program.
Mr. George, this young man’s life. I know with the proper mentoring and guidance, can change and he can be a stellar human being if given the chance... he needs to know he belongs, self-worth and love.
I am hopeful with your help; giving Liam a second chance would be the beginning of a life yet to be lived. Thank you for any and all considerations. I will continue to pray that my prayers are being heard.
Sincerely, with thankfulness for your continued success in making this world a better place.
Susie Fricano
Greensboro, Georgia
This poignant letter embodies the compelling reasons why Second Chances Farm is needed in communities throughout the United States.
Today, less than a year after we opened our doors at 3030 Bowers Street, Second Chances Farm, LLC is the first commercial indoor hydroponic vertical farm in Delaware and one of the leading “smart farms” in the United States. More than 40 returning citizens have come to work, and some have come to stay. We’re a business, a support system, and a family. We are a public benefit corporation, certified minority business enterprise, a qualified opportunity fund and a Foreign Trade Zone. Our compassionate capitalism has created something entirely new: a for-profit solution to a non-profit problem.
For more information:
Second Chances Farm
www.secondchancesfarm.com
4 Dec 2020
Global CEA Census Report Shows Continued Positivity Despite COVID-19
Autogrow and Agritecture Consulting have released the 2nd Annual Global CEA Census Report highlighting positive signs of growth despite the global pandemic
1 December 2020: Autogrow and Agritecture Consulting have released the 2nd Annual Global CEA Census Report highlighting positive signs of growth despite the global pandemic.
Data captured over an 8-week period show 95% of growers have an optimistic outlook for the next 12 months with all types of operations including greenhouses, shipping containers, tunnel, and vertical farms showing profitability.
“The optimism reflects what we have seen across many areas of the industry including increased technology adoption and increased consumer expenditure on fresh produce. And despite the challenges we’re seeing an overwhelming number of new entrants into the market,” says Autogrow CEO Darryn Keiller.
“What has not changed is the high percentage of new growers, almost 50%, that have no experience in agriculture before starting their business. That lack of experience has an impact on new technology solutions created and the need for more education to be available to support them. It also shows a real desire to make a difference considering their willingness to start during a pandemic.”
Respondents from 58 countries shared their views on their farming practices, financials, and the impact of COVID-19. The report also gave insight on three key growth regions around the world – India, the UK, and MENA (Middle East & North Africa).
"The results of the 2020 Census confirmed our hypothesis that the UK, India, and MENA regions are the emerging hotspots for CEA, albeit for different reasons. In the UK, Brexit is driving investment towards CEA to combat supply chain risks, while in India rising population and increased premium consumer demand for clean food are driving CEA. In the MENA region, government responses to COVID-19 have accelerated policies and incentives for developing scalable CEA solutions,” explains Agritecture Consulting Founder Henry Gordon-Smith.
“All of these regions present great opportunities for the CEA industry to grow and make a meaningful impact on their respective local conditions.”
Other takeaways from the Census:
68% of respondents are salad green growers
88% of growers surveyed are below age 50
29% of respondents receive funding from multiple sources
For a copy of the FREE report - https://engage.autogrow.com/census
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
