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Remembering Ed Harwood: AeroFarms Co-Founder, Chief Science Officer
Ed Harwood, co-founder, and emeritus chief science officer at AeroFarms, has died, leaving a legacy of patented innovative agriculture technology and expansion beyond his expectations
By AMY SOWDER
July 26, 2021
Ed Harwood, co-founder, and emeritus chief science officer at AeroFarms, has died, leaving a legacy of patented innovative agriculture technology and expansion beyond his expectations.
A framed photo of Harwood’s smiling face greets those who arrive at the indoor, vertical aeroponic farm company’s headquarters in Newark, N.J., said Marc Oshima, chief marketing officer, and co-founder with Harwood and David Rosenberg. The company began in 2004.
Whenever someone schedules a meeting in the conference room, they do so at “Ed’s Garage.”
It was in his dining room and then garage where Harwood tinkered with the nozzles that transport water and nutrients to leafy greens. He patented a way to keep them unclogged, Oshima said.
Harwood also patented a new clean, inert, reusable growing medium: cloth. It’s lighter than water and soil, making it more suitable for vertical farming in urban areas where space is scarce. And it’s a growing medium made from recycled water bottles plucked from the waste stream.
“Ed’s early work led us on that path of a circular economy, sanitary design, performance and measuring that performance. Ed’s spirit of inquiry helped foster the same in our team and in our practices,” Oshima said. “His legacy is part of our culture today.”
Harwood’s focus and early discoveries helped commercialize the urban vertical farming movement, he said.
Today, AeroFarms is a Certified B Corporation striving to feed more people on less arable land by using breakthroughs in indoor agtech, artificial intelligence, and plant biology to improve the food system’s way of growing and distributing produce, locally and globally. The company is on its way to going public and has expanded with several locations including commercial farms, community farms and research and development farms, like the newest one in Abu Dhabi, United Arab Emirates.
The company’s awards surpass the dozens. Harwood won United FreshTEC Achievement Award in 2018, a kind of lifetime achievement award for driving innovation in agriculture.
“I was really excited for Ed to be recognized for that by the broader produce community,” Oshima said. “I mean, 15 years ago he was having these conversations.”
Harwood’s training and prior experience provided the foundation of this success.
He earned his doctorate degree in dairy science with a minor in artificial intelligence. He was able to translate the dairy sector’s leading food safety principles and practices into procedures that work for indoor agriculture at AeroFarms, Oshima said.
Harwood was the associate director for agriculture at Cornell Cooperative Extension, where he worked for nine years.
Preferring to be called "Ed" rather than "Edward," Harwood was a man with a sense of fun, a soccer coach, and a family man.
Family members were by Harwood’s side when he died from cancer. He had stepped back from his duties gradually in recent years, serving as emeritus chief science officer and continuing to consult with the company, the U.S. Department of Agriculture, and in academia.
Harwood lived with a positive outlook, a smile, and a sense of wonderment about the world, Oshima said.
“He was not one for titles or pretenses. It was just about the work. It was about ‘How can we do something for the greater good, have a greater impact?’” Oshima said. “He would say where we’ve gone has blossomed far beyond his dreams.”
“But it was his principles of curiosity, acting with a sense of urgency and responsibility — those have been the hallmark of our organization.”
Those who wish to send anecdotes or photos can do so at EdHarwoodTribute@AeroFarms.com.
Lead Photo: (Photo and logo courtesy AeroFarms; graphic by Amy Sowder)
Towards Greater Profitability And Scale In CEA And Vertical Farming
The virtual Indoor AgTech Innovation Summit on June 24-25 will gather the world’s leading farm operators, retailers, food companies, investors, seed companies, and technology providers to meet, network, and cultivate new commercial partnerships
The virtual Indoor AgTech Innovation Summit on June 24-25 will gather the world’s leading farm operators, retailers, food companies, investors, seed companies, and technology providers to meet, network, and cultivate new commercial partnerships.
350+ attendees from the US, Europe, the Middle East, and Asia will participate in live-stream sessions, join roundtable discussion groups and connect directly through 1-1 video meetings and group chats.
By sharing best practices from around the globe, and facilitating new connections and collaborations, the summit offers an invaluable platform to develop new business and accelerate projects across the Indoor AgTech ecosystem.
2021 Key Themes
· Hands-Free Cultivation: Latest developments in robotics, automation and AI
· New Crops: Mapping a pathway to mass production
· Retail Insights: Understanding the drivers behind consumer demand
· Seed Optimization: Breeding a competitive advantage
· Financial Models: The investment models scaling the industry
· Advanced Growing Environments: Blurring lines between lighting and genetics
· Profitability at Scale: The technology driving down OPEX
· Food Systems: Bringing food into urban planning
· Direct to Consumer Business Models: Scaling beyond a city
· Energy Efficiency: Driving down the costs of optimum operations
All participants can schedule video 1-1 meetings with potential partners and clients throughout the summit, and for an extended period before and after the sessions.
By sharing best practices from around the globe, and facilitating new connections and collaborations, the summit offers an invaluable platform to develop new business and accelerate projects across the Indoor AgTech ecosystem.
Summit website: https://indooragtechnyc.com/
Registration:
One Summit Pass: Indoor AgTech Innovation Summit (June 24-25, 2021)
Super Early Bird Price: $195
Register before April 2
Early Bird Price: $295
Register before May 7
Standard Price: $395
Two Summit Pass: Indoor AgTech (June 24-25, 2021) and Future Food-Tech Alternative Proteins (June 22-23, 2021)
Super Early Bird Price: $445
Register before April 2
Early Bird Price: $595
Register before May 7
Standard Price: $695
https://indooragtechnyc.com/register/
Meet The Advisory Board - Indoor AgTech Innovation Summit, June 24-25
The virtual Indoor AgTech Innovation Summit on June 24-25 will explore how controlled environment agriculture and vertical farming can reach greater profitability and scale, both in the US and globally
The virtual Indoor AgTech Innovation Summit on June 24-25 will explore how controlled environment agriculture and vertical farming can reach greater profitability and scale, both in the US and globally.
Demand for fresh, local, nutritious and pesticide-free production has never been higher. But how can growers drive down energy consumption as they scale up to meet this demand? Which new crops can be optimized for an indoor environment? And how do we bridge the gap between producer and consumer?
We're putting together a powerful two days of interactive sessions and breakout discussion groups, steered by our valued Advisory Board of internationally recognized farm operators, food retailers, investors, seed companies, and technology providers.
MEET THE ADVISORY BOARD
More than 30 of the biggest names in the indoor agriculture and CEA community are helping to shape this June’s program:
SEE OUR ADVISORY BOARD
OUR EXPERTS SAY
"Indoor agriculture is booming as consumers continually demand the quality, variety and flavor that indoor-grown produce can bring. I look forward to the summit bringing together thoughtful content and expertise in the world of Indoor AgTech."
Liliana Esposito
Chief Communications Officer
WENDY'S, USA
"It's time for growers and the sales community to support the data and technology requirements throughout the supply chain that will enable complete product transparency and timely traceability. Data aggregation as in GS1 and technology such as QR codes on packaging have proven to be value-added for growers, distributors, and consumers."
Sean Walsh
North America Director of Fruits, Vegetables, and Dairy
GORDON FOOD SERVICE, USA
"Our capabilities are increasingly driven by AI, machine learning, internet of things, and blockchain, which all enable greater visibility and clarity on how to improve our products and services. We look to intentionally combine human and technological capabilities, so that our tech investments empower our employees and all our partners and customers along the supply chain."
Elyse Lipman
Chief Strategy Officer
LIPMAN FAMILY FARMS, USA
"I'm interested to see a significant dispersion of the food systems so quality produce becomes more affordable by removing all the friction between the producers and actual consumers. This will resolve a significant level of problems and issues we face such as food wastage, supply chain issues, food safety, and costs."
Jessica Naomi Fong
General Manager & Co-Founder
COMMON FARMS, HONG KONG
The program is coming together quickly, so if you’d like to be involved by showcasing your technology or sharing your experiences in a panel discussion, please get in touch with me now!
We look forward to hosting the indoor agtech community again in June.
Best wishes,
Oscar Brennecke
Conference Producer
Indoor AgTech Innovation Summit
oscar.brennecke@rethinkevents.com
+44 (0)1273 789989
SUMMIT PARTNERS
Platinum Partner:
HOSTED ALONGSIDE
Gold Partners:
Eight Startups Chosen For Indoor AgTech Program
“During the Indoor AgTech program, startups work with the Sente and GrowRay teams using a structured process that better prepares them to attract serious investors and customers and places them in a fast-moving, talented ecosystem of indoor agriculture entrepreneurs,” says spokesperson Jen Peterson
November 19, 2020
By Greenhouse Canada
Sente Foundry LLC, in partnership with GrowRay Lighting Technologies, has selected eight startups to participate in their Indoor AgTech program, which has already begun and will take place virtually through December 2020.
“During the Indoor AgTech program, startups work with the Sente and GrowRay teams using a structured process that better prepares them to attract serious investors and customers and places them in a fast-moving, talented ecosystem of indoor agriculture entrepreneurs,” says spokesperson Jen Peterson. “At the end of the program, at least three startups will be selected to pilot their technologies in a state-of-the-art growing facility and possibly receive additional investment.”
Sente put out a call for applicants this past summer. Eight startups were ultimately selected :
AgEye Technologies (https://ageyetech.com/) – with offices in the US and India, AgEye Technologies develops technology that helps indoor farms become sustainable and scalable through significant reductions in operational costs.
CO2 GRO Inc. (https://www.co2gro.ca/) – uses their patented advanced CO2 Delivery Solutions to accelerate the growth of all value plants safely, economically, and naturally. CO2 GRO Inc. is based in Canada.
FloEnvy (https://www.floenvy.com/) – maker of cannabis cultivation software that captures each decision on the ground in real-time so that growers can manage their cultivation from one place at all times.
Grownetics (https://grownetics.co/) – founded to solve the world’s agricultural inefficiencies, Grownetics’ grow optimization platform leverages the latest sensing and automation tools to make growing the best plants easier than before.
PhenoLogic (https://phenologic.com/) – automates a complex part of plant & crop production, saving money and time while increasing production yields. PhenoLogic is based in Michigan.
iShence AgTech (https://ishence-grow.com/) – an Israeli Agtech company aiming to provide growers with affordable and effective solutions combining agronomic knowledge with cutting edge technology.
R.O.A.B. (https://innovationlabs.harvard.edu/current-team/r-o-a-b/) – Part of Harvard Innovation Labs, R.O.A.B Technologies is building a series of autonomous agriculture devices starting with a solar-powered roving mini laboratory built to provide farmers with analyses that can increase their productive efficiency by more than 50% while at the same time mitigating the ecological damage that farming can create.
Universal Grow Controls (http://universalgrowcontrols.com/) – Denver-based company that helps growers manage their environmental controls, including CO2 enrichment, irrigation, and fertigation from anywhere in the world.
Sente’s Indoor AgTech program features an intense set of activities to analyze and evaluate participating startups, connecting them with indoor and greenhouse customers, and introducing them to indoor AgTech investors and service providers.
Source: Sente
Dutch Revolution - Smart Soilless Growing On Organic Jute Fiber
We create substrates from virgin and circular jute fiber, made intelligent for the high-tech horticulture environment
HollandBioProducts Is Ready To Launch Its 100% Organic Circular Substrates For Horticulture
HollandBioProducts offer a 100% compostable organic fiber-based substrate for the tray, soil, and water cultivation with unique water controlling capacities.
Edward van Wonderen (CEO): "Being patient, listening to you early adopting customers, not being afraid to make mistakes and being flexible once the solution lays ahead of you, has allowed us to scale rapidly around the world. We create substrates from virgin and circular jute fiber, made intelligent for the high-tech horticulture environment.”
We worked for about 10 years on creating the right sustainable circular substrate for horticulture, during a time where the market moved from traditional towards high-tech farming environments. Farms now start all around the world sometimes under extreme weather conditions. It is a very challenging market.
The present world Corona pandemic strongly punts the pressure on non-sustainable ways of industrial farming. Governments and organizations ask for more sustainable ways of farming. Indoor, local, and urban. With smart use of water and energy. Creating higher output at low cost with less waste. Non-sustainable substrates like stone, foam and even peat are more and more being regarded as questionable solutions.
HollandBioProducts is ready to emerge these market opportunities and created 100% compostable and environmentally friendly substrates in cooperation with world-leading innovating farmers.
HollandBioProducts uses a pioneering patented production technology that integrates super absorbing flakes and jute. As there is no other existing company using similar technology, to improve plant quality and increasing water retention capacity of the plug we consider being unique in our final offering.”
Free Webinar With Industry Experts - The Road Ahead for Vertical Farming
The Road Ahead for Vertical Farming: Building Tomorrow's Industry Blueprint Today - Webinar Date & Time: Thursday, May 28 at 4:00 pm (Central European Time)
By Growers For Growers Webinar Series Presents
The Road Ahead for Vertical Farming:
Building Tomorrow's Industry Blueprint Today
Webinar Date & Time: Thursday, May 28 at 4:00 pm (Central European Time)
Click Here to Register
This free webinar is designed for vertical farmers, cultivation and operation teams, support technology companies, business executives as well as investors looking to connect with industry leaders to better understand the opportunities and challenges facing the vertical farming industry in 2020 and beyond.
Discussion includes:
Current state of the vertical farming industry and where it is heading
How COVID-19 will affect the vertical farming industry and associated businesses
Why retail demand is changing the way cultivation teams work
New scientific and academic collaborations that create industry impact
Why you should attend:
Identify key technology investments to grow and expand your business
Evaluate roadblocks and business gaps that may be holding back your business
Share insights on industry partners and networks needed to move vertical farms forward
Assess new market opportunities and retail strategies for your vertical farm
Collaborate with peers to shape the future food supply chain
Register For This Free Webinar
Food Security Puts CubicFarms In Spotlight To Localize Food Production
CubicFarms is a leading platform provider of automated controlled-environment growing systems that produce commercial-scale quantities of fresh produce and nutritious livestock feed
cubicfarms 2018 May 1, 2020
Top Ag-Tech Investor Ospraie Invests C$5 Million In
A Private Placement
Vancouver, BC – (AccessWire – May 1, 2020) – CubicFarm® Systems Corp. (TSXV:CUB) (“CubicFarms” or the “Company”) is pleased to announce the strategic investment of Ospraie Ag Science as the Company executes its vision of providing technology to feed a changing world.
CubicFarms is a leading platform provider of automated controlled-environment growing systems that produce commercial-scale quantities of fresh produce and nutritious livestock feed. The systems work continuously all year, providing consistent and predictable produce and feed without the typical investment in labour, land, water, and fertilizer. Its reduced growing footprint allows growers to set up a CubicFarms system in and around large population centres, and supply their local markets while shortening distribution chains and the amount of time that food spends in transit.
In addition to providing localized production, CubicFarms systems have been shown to be far more efficient than traditional farming methods, which enhances growers’ profitability.
“Over the past month, we’ve seen a sharp increase in inquiries from interested parties worldwide for our technology, to enhance food production and improve food security and self-sufficiency. The Covid-19 pandemic exposed fragility in supply chains, such as labour shortages, disruptions in the packing and transportation sectors, and increasing uncertainty in the domestic and international markets.
CubicFarms’ automated growing systems have emerged as a key solution to overcoming these challenges by allowing growers to localize food production and provide their markets with fresh produce and nutritious livestock feed reliably and consistently,” said CubicFarms CEO Dave Dinesen.
“Two months ago, we announced our largest system sale of 100 fresh produce machines and our ever-increasing sales pipeline underscores the demand for our technology.”
Private placement with strategic investor Ospraie Ag Science
The non-brokered private placement with Ospraie Ag Science (“Ospraie”) involves the issuance of 21,739,130 common shares of CubicFarms at a price of C$0.23 per share for gross proceeds of up to C$5.0 million (the “Offering”). Without giving effect to the issuance of common shares, if any, pursuant to the exercise of pre-emptive rights held by another strategic investor of the Company, Ospraie will hold an 18.7% interest in the Company upon completion of the Offering.
“We are thrilled to welcome Ospraie as a strategic partner as CubicFarms embarks on its exciting next chapter. The investment by Ospraie, one of the top technology investors in the agricultural space, is a testament to the CubicFarms vision, team and technology,” said Jeff Booth, CubicFarms Chairman.
“Ospraie’s deep industry and commercial expertise, in addition to its extensive network, are expected to add significant value to CubicFarms and unlock new potential synergies with other companies in the Ospraie portfolio,” Mr. Booth added.
Dwight Anderson, Chief Investment Officer at Ospraie Ag Science, commented, “CubicFarms’ fresh produce systems are on the leading edge of commercial-scale controlled-environment-agriculture technology and we are excited to support Dave and the entire CubicFarms team as they continue to execute their vision of providing innovative solutions for both the food and feed markets.
“The agricultural value chain is rapidly evolving and technology infrastructure to overcome the pains of traditional farming is sorely needed. CubicFarms is one part of the multivariable solution required to address this need for safe, reliable, environmentally-friendly and affordable food. We look forward to working with the Company and its existing partners to realize CubicFarms’ tremendous potential.”
The net proceeds from the Offering are expected to be used for research and development to expand machine capabilities and crop varieties, and working capital.
The Offering is scheduled to close on or about May 15, 2020 and is subject to certain conditions, including, but not limited to, the execution of definitive documentation and receipt of all necessary approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a hold period under applicable securities laws, which will expire four months plus one day from the closing date of the Offering.
Photo: A grower using CubicFarms’ proprietary app to control frequency and volume of irrigation and nutrients, and monitor the machine’s speed to optimize yield and quality of each crop.
Photo: The fully automated feed machine, shown in a three-section configuration, performs all functions including seeding, watering, lighting, harvesting, and re-seeding, all with the push of a button.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States unless an exemption from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About CubicFarm® Systems Corp.
CubicFarm Systems Corp. (“CubicFarms”) is a technology company that is developing and deploying technology to feed a changing world. Its proprietary technologies enable growers around the world to produce high-quality, predictable crop yields. CubicFarms has two distinct technologies that address two distinct markets. The first technology is its patented CubicFarm™ System, which contains patented technology for growing leafy greens and other crops. Using its unique, undulating-path growing system, the Company addresses the main challenges within the indoor farming industry by significantly reducing the need for physical labor and energy, and maximizing yield per cubic foot. CubicFarms leverages its patented technology by operating its own R&D facility in Pitt Meadows, British Columbia, selling the System to growers, licensing its technology and providing vertical farming expertise to its customers.
The second technology is CubicFarms’ HydroGreen System for growing nutritious livestock feed. This system utilizes a unique process to sprout grains, such as barley and wheat, in a controlled environment with minimal use of land, labor, and water. The HydroGreen System is fully automated and performs all growing functions including seeding, watering, lighting, harvesting, and re-seeding – all with the push of a button – to deliver nutritious livestock feed without the typical investment in fertilizer, chemicals, fuel, field equipment, and transportation. The HydroGreen System not only provides superior nutritious feed to benefit the animal but also enables significant environmental benefits to the farm.
About Ospraie Ag Science
Ospraie Ag Science LLC (“Ospraie”) an investment vehicle that supports productivity-enhancing companies in the agriculture technology space with a focus on sustainable solutions that improve the quality of life for farmers and society. Utilizing its extensive network and 25 years of experience investing in agriculture markets, Ospraie identifies solutions that help farmers “Do More With Less” and that increase profitability, reduce environmental impact and improve their quality-adjusted yield.
Information contact
Kimberly Lim
kimberly@cubicfarms.com
Phone: +1-236-858-6491
www.cubicfarms.com
Cautionary statement on forward-looking information
Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws, including, without limitation, statements with respect to the closing of the Offering and the use of proceeds thereof. Such statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of CubicFarm Systems Corp., or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information including the Company obtaining the approval of the Offering from the TSX Venture Exchange. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict”, and other similar terminology, or state that certain actions, events, or results “may”, “could”, “would”, “might”, or “will” be taken, occur, or be achieved.
These statements reflect the Company’s current expectations regarding future events, performance, and results and speak only as of the date of this news release. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except as required by securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if the Company’s expectations regarding future events, performance, or results change.
Around The World In 7 Futuristic Farms
The United Nations estimates that Earth’s human population will jump from today’s 7.6 billion to 9.8 billion by 2050. That’s 2 billion more mouths to feed, on the same planet that has lost a third of its arable land in the last 40 years
Creative Solutions For The Hungry World of Tomorrow
BY LUKE FATER, GASTRO OBSCURA FELLOW
The United Nations estimates that Earth’s human population will jump from today’s 7.6 billion to 9.8 billion by 2050. That’s 2 billion more mouths to feed, on the same planet that has lost a third of its arable land in the last 40 years. In other words, we’re going to need a lot more food produced in a much different way if our whole human experiment is to have a future. Nothing seems to inspire creativity like the looming threat of starvation.
Enter the farms of tomorrow. With smaller footprints and more efficient use of light, air, and soil, these concepts can also operate far closer to exploding urban centers (68 percent of us are forecasted to live in cities by the same 2050 mark, up from today’s 55 percent) than traditional farms, drastically reducing transportation emissions. To mitigate the perilous effects of climate change, we must reverse thousands of years of human evolution by farming like we’ve never farmed before.
This means converting forgotten spaces such as World War II bomb shelters or subterranean caves into food-productive spaces. This means employing cutting-edge technology by building greenhouses out of giant bubbles, or indoor vertical farms grown under artificial lights. This means a floating home where cows and robots produce fresh yogurt.
Whatever it means, the existence of these unexpected, innovative farms gives us a taste of the future. They give us a taste of hope.
1. LONDON, ENGLAND
Growing Underground
A former World War II bomb shelter is living its second life as the world's first underground farm.
2. BANGKOK, THAILAND
Haoma
Rather than farm-to-table, this upscale Bangkok restaurant puts the table in the farm: Aquaponic and vertical farms within the restaurant itself supply the produce for much of the neo-Indian menu.
3. ROTTERDAM, NETHERLANDS
Floating Farm
This floating farm in the port of Rotterdam is the first of its kind, with 35 cows producing hundreds of liters of milk every day to be distributed throughout the city.
4. NEW YORK, NEW YORK
Farm.One
Despite being a farm beneath the streets of New York City, this is one place you won't get your hands dirty: The hydroponic farm uses no soil or pesticides.
5. BOURRÉ, FRANCE
La Cave des Roches (Mushroom Caves)
Just outside the French city of Tours, a vast, forgotten network of limestone mines is now a spelunking mycophile's dream come true.
6 CORNWALL, ENGLAND
The Eden Project
At the site of a former clay mine, the world's largest greenhouse was erected, hosting a tropical and Mediterranean biome where plants native to each climate thrive.
5 Things You Need To Know About Financing Your Farm
More producers are turning to indoor farming today to meet the demand for locally-grown produce, for its environmental benefits, and as a sustainable way to transform the food system
By urbanagnews
December 11, 2019
By Chris Rawley, CEO of Harvest Returns
More producers are turning to indoor farming today to meet the demand for locally-grown produce, for its environmental benefits, and as a sustainable way to transform the food system. Building a new greenhouse or equipping a vertical farm can require significant amounts of capital. Indoor growers are faced with an agriculture finance system in the United States that is anything but innovative and hasn’t changed significantly in 50 years. USDA guaranteed loans and similar debt vehicles are optimized for land loans and operating agreements for row crop farmers, because that’s where the most significant amount of money is to be had for lenders.
Equity investments can be an alternative for indoor growers. According to PitchBook, about 15% of the $2.1 billion invested by Venture Capital firms in AgTech in 2018 was in indoor agriculture. That said, very few companies actually receive VC investments. Investments of a hundred million dollars or more like that in AppHarvest are the rare exception, not the rule. For a producer who needs to raise between say $200,000 to a few million dollars, the options are much more limited.
How to Finance your Farm
Here are five things indoor producers should know about financing their farm:
1. What’s your purpose?
The first step in any project is to ask yourself why you are doing this? Are you simply in it to make money? If investors understand that you have a vision that goes beyond yourself, they are more likely to trust you with their funds. Without a doubt, investors want to make a good decision based on the math and how it increases their returns, but more and more investors are putting their money into things they believe in. A mission driven opportunity shows that you are thoughtful, focused, and determined – all aspects of a good investment.
2. What’s your plan?
You need to develop a concise, articulate business plan or pitch deck that clearly explains how you will develop or expand your farm, and how investors will benefit from it if they trust you with their money. What is your exit strategy for investors in terms of time line and sources of liquidity? There are several resources online or consultants that can help you put together a professional business plan for your controlled environment agriculture project. In most cases, a 50 page business plan with appendices is not necessary, at least at this stage. A good start is a well-structured slide deck and maybe a one page offering summary. Investors are inundated with opportunities so its better to be short and memorable, then long and complex.
3. Build your team.
People invest in people, not just ideas, or projects, or companies. Investors want confidence that they are entrusting their money with a capable, trustworthy team who can successfully execute a plan. No one is an expert at everything. You may be able to make tomatoes grow on an iceberg, but if you or someone on your team doesn’t know the difference between a balance sheet and an income statement, you’re going to have a hard time running a successful company. So if you are lacking in farming skills, or accounting skills, or marketing skills, you need to surround yourself with people who make up for your shortfalls. A team doesn’t have to be partners or employees. It can be an advisory board, consultants, or contractors. But build a team and ensure your investors know about it.
LET US HELP YOU BUILD YOUR TEAM:
Looking for professional guidance, register here
4. Understand and control your risks.
Above all, investors are afraid of losing their money. They want to understand the ways they could possibly get burned. Indoor farms face market risks, technology risks, and agronomy-related risks. It is crucial to identify, disclose, and explain the ways you are going to reduce the impact of these risks on investor returns.
5. Engage your network.
Before even thinking about approaching an equity funding source, be it a VC or a funding platform, you should run your plan by your internal network. Building a network of industry experts is important, and can be jump-started by attending any of the large number of agriculture or food related conferences. Share your idea and practice pitching it to your friends, family members, or business savvy colleagues. Have a short “elevator pitch” ready to go to talk enthusiastically for whomever you meet about how your new farm is going. Start building your network by attending industry events and conferences. Ask your contacts for honest feedback and referrals to people who may be looking into investing what are doing. Also, don’t be afraid to ask friends and family to take a chance on investing in your farm. Many great companies were started because of these types of early stage investments.
These five items apply to pretty much any type of agriculture business, including the increasing numbers of legal cannabis growers. A solid strategy is required to raise capital whether you are producing hemp or tomatoes and no matter what type of production method you are using.
Durban: Vertical Farming In The Spotlight
Vertical gardening is one way to cool a building and reduce the need for air conditioners, said passionate gardener Wendy Taylor, who designed a vertical garden for the eThekwini Municipality
14 SEPTEMBER 2019 / DUNCAN GUY
Bubbles add oxygen to a pond with tilapia at the vertical garden on display at 77 Monty Naicker Street. Picture: Duncan Guy
Durban - Air conditioning may cool a building, but it doesn’t stop the ice melting in the world’s polar regions; it just contributes to it.
Vertical gardening is one way to cool a building and reduce the need for air conditioners, said passionate gardener Wendy Taylor, who designed a vertical garden for the eThekwini Municipality.
It’s in a building opposite the International Convention Centre where vertical gardening and other urban agriculture practitioners will brainstorm at the coming Urban Agri World 2019 conference.
In spite of China having the heaviest carbon footprint of all countries, Taylor was impressed with its vertical gardens on a recent visit there.
“There are many of them in all the main cities in China. Some are for to grow food, others are for beautiful plants. They adorn the streets,” she said.
Taylor said poor urban areas of Brazil lead the way when it came to vertical gardening for food. “There is not much land, people are poor and there is community farming.”
The garden Taylor designed and landscaping technologist Amy Gwillam implemented, receives drip irrigation from the top of the wall and the water drains into a pond, which is stocked with tilapia, and pumped back up. “It was intended for vegetables, but the condition wasn’t right; there wasn’t enough sun.”
Eventually, indoor plants that could take the shade and handle lots of water were found to be best suited.
Taylor said that while vertical gardens were becoming more trendy all over the world, she did not expect them to take-off in South Africa unless legislation required them.
“A disadvantage is that they require high maintenance. One must ensure irrigation systems never block up.”
The conference, from September 17 to 19, will discuss the key issues pertaining to progressive farming developments for the indoor and vertical farming industry. There will be an emphasis on food production.
“Today, 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050,” read a conference document.
“United Nations projections show that urbanization. combined with the overall growth of the world’s population. could add another 2.5 billion people to urban areas by 2050, with close to 90% of this increase taking place in Asia and Africa.
“To feed another 2 billion people in 2050, food production will need to increase by 50% globally. The challenge of growing enough healthy food for growing cities is enormous.
“At the same time, the stresses of climate change, and the declining availability of arable land and freshwater are challenging conventional agriculture as never before.”
The vertical garden and rooftop garden are at 77 Monty Naicker (Pine) Street.
They are open to the public from 7.30am to 3.30pm on Mondays to Fridays.
Groups of more than 10 should call 0313228280 in advance.
US, OHIO: Great Lakes Ag Tech Summit - September 23, 2019
Join Urban Ag News, Hort Americas and Current, powered by GE, for the inaugural Great Lakes Ag Tech Summit on September 23. The summit will be held at at the historic Nela Park campus in Cleveland, Ohio
By urbanagnews
August 14, 2019
Join Urban Ag News, Hort Americas and Current, powered by GE, for the inaugural Great Lakes Ag Tech Summit on September 23. The summit will be held at at the historic Nela Park campus in Cleveland, Ohio.
The one-day event features keynote presentations and panel discussions from leading researchers and innovative growers in the Great Lakes region. Attendees will be able to connect with growers, scientists, researchers and entrepreneurs as we shape the future of food and move controlled environment agriculture forward.
Keynotes
Optimizing Plant Production Under a Controlled Environment – Research and Education Programs at the Ohio State University
Dr. Chieri Kubota – The Ohio State University
Dr. Kubota’s research mission is to serve in the development of science and technology in the area of controlled environment agriculture (CEA). Her projects are in an interdisciplinary area that encompasses plant physiology and horticultural engineering to enhance understanding and efficiency of CEA plant production systems such as greenhouses, warehouses (vertical farms), and growth chambers.
Are Consumers and Growers Putting Dollars in the Local Food Industry? Insights on Technologies and Preferences
Dr. Ariana Torres – Purdue University
Dr. Torres’ background combines field experience in agriculture with theoretical and applied research on agricultural economics. She has worked on projects looking at the impact of marketing choices on technology adoption for fruit and vegetable growers; the economic implications of social capital on entrepreneurship; and the role of community support on the resilience of small business after disasters.
Dr. Torres uses economic analysis to support the economic viability of the horticulture industry. Her research focuses on the intersection between the horticulture industry and marketing decisions. Her goal is to conduct innovative outreach and applied research in specialty crops marketing, with the end of promoting economic sustainability for horticultural businesses.
Dr. Torres is currently working on a project evaluating the market, economics, and potential barriers to produce export-quality dried apricots from smallholders of southern Tajikistan. She is also working on evaluating the adoption of a solar dehydrator for selected dried specialty crops in Indiana and Georgia. Lastly, she is collecting foundational data and establishing long-term pricing reports for Indiana farmers markets.
Vertical Farm Production of Young Plants, From Hemp to Tomatoes
John Jackson – Sustainable Indoor Growing Systems, Inc.
John is the CEO of Sustainable Indoor Growing Systems, Inc. (SIGS) born from an USDA funded industry-academic partnership with Grafted Growers, the University of Arizona, and North Carolina State University. John is an award-winning entrepreneur and University of Arizona alum with an MBA from the Eller College of Management. John has successfully launched investor and grant funded businesses and operated tech based companies to early stage revenue. Born in Compton, California, John continues his grandfather’s legacy as a sharecropper of tomatoes in rural Texas.
SIGS gives plants what they need to express the features that the market wants.
Sustainable Indoor Growing Systems, Inc. (SIGS) is a clean agricultural technology company that uses controlled environment agriculture to induce young generic plants to express enhanced physiological traits customers want – while increasing the economics of propagation. This is made possible by scientific discovery and development of unique growing recipes which are learned and enabled only by the SIGS multi-layered growing platform and architecture.
Click Here to Register Now! Seats Are Limited!
Location
1975 Noble Rd. Cleveland, OH 44112
Date & Time
Monday, September 23, 2019
9 am to 4pm
Registration
Early bird admission price is $30 if registration occurs before Sept. 16.
Regular admission: $50
Hotel
Hyatt Legacy Village
24665 Cedar Rd
Lyndhurst, OH 44124
The rate is $129 for the night of 9/22/19.
• Call the toll-free number at 1-888-492-8847 for Hyatt Place Reservations and ask for the “Great Lakes Ag Tech Summit” or code G-GLGT
• OR use this link https://www.hyatt.com/en-US/hotel/ohio/hyatt-place-cleveland-lyndhurst-legacy-village/clezl?corp_id=G-GLGT
Click Here to Register Now!
About Urban Ag News
The mission of Urban Ag News is to be the leading science communicator for the commercial hydroponics, greenhouse vegetable, vertical farming and urban agriculture industries. Urban Ag News educates readers and provide an understanding of the industry’s latest technologies and luminaries.
About Current, powered by GE
Current, powered by GE, offers cutting-edge innovations in horticultural lighting. We’ve spent years perfecting our lighting technology and working with growers, systems integrators and plant scientists to establish the specific needs of the horticulture industry. The result? LED grow systems that maximize the potential of greenhouses and indoor farms by enabling efficient growth at an industrial scale.
TAGS Ariana Torres Chieri Kubota Conference GE Lighting Greenhouse Greenhouse Technology Hort Americas Indoor Ag Technology LED Grow Lights Ohio State University
Indoor Ag-Con Las Vegas 2019
February 25, 2019
7th Annual Las Vegas Edition Heads To Red Rock Resort With Expanded Educational Conference And Exhibit Floor Offerings
LAS VEGAS, NV (February 24, 2019) – Indoor Ag-Con, the premier event covering the technology of growing crops in indoor systems using hydroponic, aeroponic and aquaponic techniques, heads to Red Rock Resort from May 22-24, 2019 for its 7th annual Las Vegas edition. Themed “Growing the Future,” this year’s event moves to a new location and welcomes a number of new features, including a special hemp spotlight, exclusive white paper release, expanded exhibition floor and conference schedule.
“Our ‘Growing the Future’ theme celebrates the tremendous growth potential we see for indoor agriculture,” says Nancy Hallberg who, along with other event industry veterans Brian Sullivan and Kris Sieradzki, acquired Indoor Ag-Con LLC from founder Newbean Capital in December 2018. “From timely conference tracks to the top names and emerging leaders joining our show floor, this will be the place to get a first-hand look at the industry’s breaking trends and innovations.”
Show highlights for Indoor Ag-Con Las Vegas include:
HEMP SPOTLIGHT JOINS CROP AGNOSTIC, TECH-FOCUSED OFFERINGS – New for 2019, Indoor Ag-Con will put a special spotlight on the hemp sector – from grower through manufacturer – on the show floor and in conference programming. What’s more, Indoor Ag-Con provides a venue for those working with any crop — from leafy greens and mushrooms, to alternate proteins, to medicinal crops — to meet and exchange ideas. At a time of rapid technology-led progress in indoor growing, the event will also showcase the latest innovations in artificial intelligence, LED lighting and control systems.
WHITE PAPER RELEASE: AUTOMATION, AI & THE NEXT GENERATION OF INDOOR AGRICULTURE –Indoor Ag-Con began releasing white papers at its events in 2015, and has provided participants with an exclusive hard copy of the newest white paper every year since. A culmination of months of research by Contain, Inc. and other Indoor Ag-Con team partners, the 2019 white paper, Automation, AI & The Next Generation of Indoor Agriculture, will be released in hard copy to all attendees during the Las Vegas event. To contribute or to receive more information, send a message to hello@indoor.ag
NEW LOCATION: RED ROCK RESORT – As a great trade show city, Las Vegas is hard to beat with its easy access, world class dining, top name entertainment and more. Previously held at the Las Vegas Convention Center, Indoor Ag-Con heads to Red Rock Resort for 2019. Nestled in the amber glow of the beautiful Red Rock Canyon, the new location provides the perfect backdrop for this year’s event and Indoor Ag-Con attendees and exhibitors can take advantage of discounted rates when they book through the event hotel block. Visit the show website for details – www.indoor.ag
FIVE TRACKS, 40+ INDUSTRY LEADING SPEAKERS – The Indoor Ag-Con conference agenda will bring together 40+ industry-leading speakers offering a deep dive into five key tracks: Grow Equipment, Crop Selection, Customers & The Supply Chain; Business; Policy and Societal Impact.
The full conference schedule will be posted on the event website soon – www.indoor.ag
EXPANDED EXHIBIT FLOOR & NETWORKING OPPORTUNITIES – Attendees will have the chance to meet face-to-face with some of the biggest names in the business as well as emerging innovators. From equipment and accessories to vertical farming and greenhouse solutions to technology providers, lighting and climate control systems, the industry gathers here. Indoor Ag-Con also offers a wide range of networking opportunities, including evening drinks receptions on May 22 and 23, continental breakfast and lunch gatherings, as well as extended networking breaks between conference sessions.
QUICK FACTS:
WHEN: Wednesday, May 22 – Friday, May 24, 2019 (Exhibits Open May 22-23)
WHERE: Red Rock Resort, 11011 W. Charleston Blvd, Las Vegas, NV 89132
INFO: For information on exhibiting or attending visit www.indoor.ag or email hello@indoor.ag
ABOUT INDOOR AG-CON LLC
Founded in 2013, Indoor Ag-Con has grown into the premier event in indoor agriculture, the practice of growing crops, raising fish and insects in indoor systems, using hydroponic, aquaponic and aeroponic techniques. Its events are tech-focused and crop-agnostic, covering produce, legal cannabis, alternate protein and non-food crops. It hosts events in Las Vegas, Singapore and the US East coast. In December 2018, three event industry professionals – Nancy Hallberg, Kris Sieradzki and Brian Sullivan – purchased Indoor Ag-Con LLC from Newbean Capital, so setting the stage for further expansion of the events globally. More information: https://indoor.ag