The Global Food Revolution Is Vertical
17th April 2020
Vertical farming supporters believe this method of indoor growing could revolutionize global food production
OVER $1 BILLION in investments into vertical farming worldwide have been raised in the last five years.
Growing plants indoors is by no means a new concept; however, vertical farming allows operators to stack plants in layers to reduce space, practice soil-free growing techniques and to exert absolute control of the environmental growing conditions – using artificial lighting instead of relying on the sun.
With more and more people concerned about reducing their carbon footprint, supporters of vertical farming believe this method could revolutionize global food production by eliminating food miles, enabling crop growth next door to urban centers and achieve yields hundreds of times higher than conventional agriculture without requiring pesticides.
At the moment, fruit and vegetables often travel thousands of miles to reach consumers, losing freshness and quality along the way and increasing the risk of contamination.
Investors are responding enthusiastically to the development of this concept, with the sector raising over $1 billion in funding since 2015. High profile investments include New Jersey-based start-up ‘AeroFarms’ raising $100 million in 2019 to expand its aeroponic growing facilities, and Californian start-up ‘Plenty’ raising $200 million in 2017 in a funding round led by SoftBank Vision Fund, along with backers including Amazon founder Jeff Bezos and Alphabet chairman Eric Schmidt.
Across the Pacific, the industry is already well-established – in Japan, there are over 200 vertical farms currently operating, with industry leader Spread Co. Ltd. producing 30,000 heads of lettuce every day in its highly automated 'techno farm' Keihanna plant.
However, despite this optimistic picture, the industry is facing challenges. The sector is littered with bankruptcies as companies struggle with the power costs of maintaining a controlled environment 24/7 and the difficulties of coordinating the labor-intensive process of running a vertical farm. Nevertheless, companies remain optimistic, with advances in lighting and automation technology helping to shape the future of indoor growing.
Political Affairs Editor