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Natalie Portman, Other Celebs, Invest In Vertical Farming Startup Bowery
The sustainable agriculture startup, the largest vertical farming firm in the U.S., secured over $300 million from both individuals and investment groups to help expand its operations across the U.S.
$300M Investment Round Will Help
The Company Expand Its
Indoor Farms Across The U.S.
June 4, 2021
Natalie Portman | Roy Rochlin / Getty Images
Natalie Portman, an actor as well-known for her film roles as her dedication to causes ranging from the environment to animal welfare, has thrown her financial support behind a new investment round for Bowery Farming. The sustainable agriculture startup, the largest vertical farming firm in the U.S., secured over $300 million from both individuals and investment groups to help expand its operations across the U.S.
"At Bowery, we're reinventing a new supply chain that's simpler, safer, more sustainable and ultimately provides vibrantly flavorful produce unlike what's available today," Irving Fain, CEO, and Founder of Bowery Farming, said in a press release. "This infusion of new capital from Fidelity, other new investors, and the additional support of our long-term investor partners is an acknowledgment of the critical need for new solutions to our current agricultural system, and the enormous economic opportunity that comes with supporting our mission.
Portman’s investment is the latest in a series of big moves by the vegan activist to help grow companies that provide healthy, sustainable, and animal-friendly products to millions around the globe. In July of 2020, she joined others such as Oprah Winfrey and Starbucks CEO Howard Schultz in investing in milk-alternative startup Oatly. In November, she teamed with music artist John Legend in backing MycoWorks, a company creating vegan leather from fungus, to help raise more than $45 million.
“So now lots of people make fun of vegans, right? Lots of people make fun of anybody who cares about anything deeply, right?,” Portman said during a youth activism speech in 2019. “But I’m here to say, it is always a great thing to care…whether it’s environmental issues, animal rights, women’s rights, equality, never be afraid to show how much you care.”
Joining Portman in the latest investment round for Bowery, which has raised more than $465 million since its founding in 2014, were well-known plant-based eating advocates Lewis Hamilton and Chris Paul, as well as world-renowned chef and hunger advocate José Andrés and singer-songwriter Justin Timberlake.
Growth of vertical farming reaches new heights
So why is everyone from celebrities to investment groups throwing money at Bowery? Simply put, the skepticism around vertical farming that stunted early growth has been replaced with blooming enthusiasm in the wake of its success.
In the last year, Bowery has gone from selling produce in under 100 retail locations across the U.S. to nearly 800. According to Fain, these include such giants as Whole Foods Market, Giant Food, Stop & Shop, Walmart, and Weis Markets.
“It’s definitely bigger than the pandemic,” Fain told The Spoon. “What you’re seeing is a food system that’s evolving and [people have a desire] to see transparency and traceability in the food system.”
Bowery presently has two vertical farming sites in New Jersey and Maryland, with a third slated to open in Bethlehem, PA later this year. Each industrial space features various greens and herbs (butter lettuce, cilantro, arugula, etc.) stacked vertically in trays and grown hydroponically using a state-of-the-art computer control system and LED lights. An average of 80,000 pounds of produce is generated each week using 95% less water than traditional farms and with zero pesticides or chemicals. And because these vertical farms can be built within cities, transport costs and their associated environmental impacts are drastically reduced.
While the focus for vertical farming remains firmly planted on greens, Bowery is testing new crops like tomatoes, peppers, and strawberries. They are also making constant improvements to the artificial intelligence system that monitors the plants at all times. At any moment, the computer can make changes to improve the yield or alter the flavor of a particular crop.
“We achieve a plant vision system and that vision system takes photos of our crops in real-time and runs them through our machine learning algorithms,” Fain said in an interview with Tech at Bloomberg. “We know what’s happening with a crop right now and whether it’s healthy, but then also predict what we will see with this crop based on what we’ve seen in the past and what tweaks and changes we want to make.”
Yes, we know that sounds like some slice of a dystopian future, but vertical farming is quickly proving itself a necessary technology to help feed and sustain humanity. For Fain, he believes the ability to do all of this with fewer resources, chemicals, and independent changing climate conditions or unexpected global crises is something that should be celebrated and not feared.
“I actually view it as this incredibly optimistic opportunity to say, ‘Wow, like, isn't it amazing that technology has taken us to a point where something that we've done in a certain way for hundreds and hundreds of years with iteration and optimization can really be rethought and re-imagined in totality because of human creativity and human ingenuity?", he told MyClimateJourney. “And I think that's actually exciting and that's something that we should be happy about and optimistic about. And that to me is really the message in what we're building at Bowery.”
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SweGreen Becomes Partner In Viable Cities
Viable Cities is an innovation program for smart and sustainable cities. The aim is to accelerate the transition to inclusive and climate-neutral cities by 2030 with digitalization and citizen engagement as enablers
03-03-2021 | Swegreen
SWEDEN- Farming as a Service becomes a new tool in the fight against climate change as the FoodTech enterprise SweGreens joins the Swedish Strategic Innovation Program, Viable Cities.
Viable Cities is an innovation program for smart and sustainable cities. The aim is to accelerate the transition to inclusive and climate-neutral cities by 2030 with digitalization and citizen engagement as enablers.
SweGreen is an innovation company based in Stockholm focused on futuristic, smart, and circular solutions for controlled-environment urban farming. SweGreen own technologies which enables integration of smart vertical farming solutions into real-estate properties. Recently SweGreen has introduced a service for urban production of leafy greens, called Farming as a Service (FaaS), which allows clients to produce greens under their license and close to the city population.
Sweden inspires many other nations and has a leading position in the transition of urbanization context and fighting the climate change through smart and sustainable solutions that could be implemented in cities, says Sepehr Mousavi, member representative, and Chief Sustainability Officer at SweGreen.
Smart urban farming in infrastructure-integrated settings and by harnessing urban resources could be an exponential factor in localizing the food chains in Sweden and cutting back the carbon footprint associated with our food production and supply, he continues.
Viable Cities is growing steadily and new members like SweGreen are joining the current member pool, the likes of Swedish municipalities, Swedish universities and research institutes and other leading innovation companies. Running from 2017 to 2030, the program gathers partners from industry, academia, public and civil society organizations, and jointly funded by the Swedish Innovation Agency (Vinnova), the Swedish Energy Agency and Formas with a total investment of 1 billion SEK (about 100 million EUR).
Viable Cities is coordinated by KTH Royal Institute of Technology.
Together with our member organizations and other stakeholders, we aim to accelerate the transition to climate-neutral cities by 2030 with a good life for all within planetary boundaries, says Olga Kordas, Program Director of Viable Cities and a researcher at KTH Royal Institute of Technology.
Transforming our food systems are one of the key challenges, Olga Kordas continues, and we are happy to be joined by SweGreen to co-create solutions for the future.
Andreas Dahlin, CEO of SweGreen, highlights:
We are honored to be part of such a committed and influential strategic program and partner pool as Viable Cities’. We hope to contribute with innovations around the concept of Farming as a Service, which really could impact food production today and in the future. The ability to produce fresh and nutrient food close to the consumer will be one of the big missions for the food industry in the upcoming decades.
For more information:
Sepehr Mousavi, CSO SweGreen, sepehr.mousavi@swegreen.se +46(0)73-3140043
Andreas Dahlin, CEO SweGreen, andreas.dahlin@swegreen.se +46(0)70-9240032
Åsa Minoz, Head of Communications, Viable Cities, asa.minoz@viablecities.se +46(0)722108826
SweGreen is a Swedish GreenTech company that offers digital, efficient, and circular solutions for urban cultivation in a closed and controlled environment. By combining computer science, advanced technology, and plant sciences, SweGreen contributes to the development of urban sustainable food production. The company was established in 2019 and provides consumer products such as various leafy greens and herbs under the brand of Stadsbondens. www.www.swegreen.com
Source and Photo Courtesy of Swegreen
Vertical Grower Plenty Adds Former Impossible Foods’ Sales VP
"We are delighted to welcome Dana to the Plenty family as we continue to manage our substantial growth trajectory," Nate Storey, Plenty co-founder, said in the release
By CHRIS KOGER
January 14, 2021
Vertical farming company Plenty, South San Francisco, has added former Impossible Foods vice president of sales Dana Worth as senior vice president of commercial.
Worth led the debut of the plant-based Impossible Burger, building the sales and commercial teams for the company, according to a news release from Plenty. While at Impossible Foods, he helped sign deals with Starbucks, Burger King and other foodservice outlets to build the Impossible Burger brand.
"We are delighted to welcome Dana to the Plenty family as we continue to manage our substantial growth trajectory," Nate Storey, Plenty co-founder, said in the release. "Dana's experience working with fast-growing companies, such as Impossible Foods and PayPal, who are pioneers in their markets, will be instrumental as we accelerate both our corporate and commercial footprint and establish our platform as the standard for indoor vertical farming."
Plenty has promoted Megan Gillespie to vice president of farm operations and Daniel Malech to senior vice president of strategy and general counsel.
Gillespie, formerly of Tesla, joined Plenty in 2019 and has been pivotal in getting the company’s flagship farm operational. In 2020, she led an expansion strategy, tripling the production and ensuring product made it to stores and food banks, according to the release.
In her new role, Gillespie will oversee farm operations for Plenty's farms, including its latest facility - the world's first high-output, indoor vertical farm in Compton, California - bringing access to healthy vegetables and new jobs to the community.
Malech joined Plenty in 2018 as head of legal, advising the company on business strategy and implementation. His new role includes regulatory, compliance, and overseeing the company’s intellectual property portfolio.
Plenty Names Former Hewlett-Packard, Heinz Execs To Board
Vertical farming company Plenty, South San Francisco, has added Ann Livermore and Bill Johnson, former executives at Hewlett-Packard and H.J. Heinz, respectively, to its board of director
October 28, 2020
Vertical farming company Plenty, South San Francisco, has added Ann Livermore and Bill Johnson, former executives at Hewlett-Packard and H.J. Heinz, respectively, to its board of directors.
Livermore brings extensive experience on advising companies during periods of growth and change, according to a news release.
She started at Hewlett-Packard in 1982 and retired as an executive in 2011, and continues as a Hewlett-Packer Enterprise Co. board member. Other companies at which she’s a board member are Qualcomm, United Parcel Services and D2iQ.
Johnson was at Heinz for 31 years in roles that included general manager, and president and CEO. He was named CEO of the Year for the Global Food and Beverage Industry in 2011. He is an operating partner with private equity firm Advent International and is chairman of Sovos Brands, an investment vehicle for food and beverage acquisitions, according to the release.
“The experience and wisdom that Ann and Bill bring to the Plenty board will be critical as we work to grow our platform and increase production to provide fresh, and delicious food to more consumers,” Matt Barnard, Plenty co-founder and executive chairman, said in the release. “They will help ensure that our mission is supported and advanced through best practices in governance and corporate stewardship.”
Lead photo: ( Photos and logo courtesy Plenty; graphic by Amelia Freidline )
Related stories:
Plenty raises $140 million in investments
This Week On Green Sense Show: Controlled Environment Agriculture
Featuring innovators that are changing the world with their sustainable ideas
As the Coronavirus touches nearly every aspect of life in nearly every part of the world, how we raise food continues to innovate.
Hear the interview with our longtime correspondent Chris Higgins of Urban Ag news as he talks about the latest developments in indoor farming- greenhouses and vertical farms and how they are presenting a solution to the food supply chain during this pandemic. #verticalfarming #greenhouses #sustainability