Welcome to iGrow News, Your Source for the World of Indoor Vertical Farming
How Vertical Farming Will Shape The Post Pandemic Food Supply Chain
We're building for a future where modular vertical farming solutions are an accessible means of food production in urban areas. By modular vertical farming solution, we are referring to turnkey grow systems from the size of a shipping container down to a household appliance.
We're building for a future where modular vertical farming solutions are an accessible means of food production in urban areas. By modular vertical farming solution, we are referring to turnkey grow systems from the size of a shipping container down to a household appliance.
Q&A with Alexander Olesen, Co-Founder | Babylon Micro-Farms
Tell us about yourselves and Babylon Micro-Farms.
While still taking full course loads at the University of Virginia, we were actively involved in the Social Entrepreneur Program, a reflection of our values and determination to incubate a socially good company. Our original vision of starting an environmentally responsible company to provide fresh food to refugees living in camps by building hydroponic farms was put to the test when logistical realities of adequate power supply and access to clean water forced them to put that aspect of the business on hold. We became determined to develop a technology-based solution reducing the cost, complexity, and infrastructure requirements to grow fresh food. This technology is the backbone of Babylon’s platform today, the R&D has taken a dedicated effort for over 4 years. Our commitment to building Babylon into a successful company required an unforeseen amount of perseverance and we ran into a few issues along the way. We're now a team of 23 people working tirelessly towards the same goal of creating an integrated platform for modular vertical farming. It's inspiring to work alongside so many talented people and it's so rewarding to see how well our products are being received in the market and we're just getting started.
How have your customers' priorities shifted due to the pandemic?
Our institutional customers, predominantly from the education, healthcare, hospitality, and senior living spaces, have had a completely different set of priorities since the advent of COVID. We have been amazed at their complete commitment to their people - staff, students, patients, residents, and visitors. They were required to do an incredibly hard, fast pivot to safeguard the safety of the people they are responsible for and to and have done an outstanding job. Schools had to close their doors and learn how to operate virtually, hospitals were hit hard and continue to be, and the hospitality industry will take some time to recover. Senior living community residents have been the most vulnerable to the pandemic and the protocols that were put in place almost instantly have saved many lives. We are proud of how our partners responded to the ongoing public health crisis and that in the midst of all the challenges we continued to be able to supply them with fresh food, despite the lockdowns and quarantines. Our remote management system enabled us to make sure at least one thing stayed consistent for our partners during a difficult time for them.
How do you feel urban farming, and specifically modular indoor farming, addresses these new problems and priorities?
1. Supply chain resiliency - We provide peace of mind that fresh produce is being grown there on-site.
2. Reduced Food waste - Our customers love harvesting highly-perishable produce as needed and not having to waste anything
3. Improved Nutrition - We have much higher quality produce that is free from pesticides and it's helping our customers improve their diets.
How has the pandemic shaped the trajectory of indoor farming?
The pandemic has focused a very bright light on the frailty of our food systems and supply chain. The growth of the indoor farming industry has been rapidly escalating as a result, as demonstrated by the enormous sums being raised by companies that are actively involved in addressing the vulnerabilities and trying to ensure a safer, more sustainable, and hopefully a more equitable food system for the future.
Why is Babylon’s software platform important to the industry? How is it different from what’s out there today?
We're solving a very different set of problems to most people in this industry. We're building for a future where modular vertical farming solutions are an accessible means of food production in urban areas. By modular vertical farming solution, we are referring to turnkey grow systems typically from the size of a shipping container down to a household appliance. We do not compete with the large industrial growers at all. Most companies in this emerging segment are focused on creating configurations of hydroponic systems to optimize specific markets, aesthetics, or certain crop varieties, etc. There's nothing wrong with that and it's exciting to see all the innovation. However, our firm belief is that there is not a one size fits all solution to this market and that every modular vertical farming solution shares the same scalability challenges. These are the challenges we are trying to address through our remote management platform. The platform enables us to control semi-automated hydroponic systems through the cloud and aggregate the data from all the farms in our fleet. We combine this with an automated inventory fulfillment system that enables us to prepare and ship consumables to our customers while they interact with their farm through a simple app. The software infrastructure we are developing creates a superior user experience for the end consumer and provides data analysis that is critical to scaling support for a distributed network of vertical farms. In this way, we seek to be an enabling platform that can help grow the market for modular vertical farming solutions as an accessible alternative to large scale, capital intensive, commercial growers.
What is Babylon’s vision for the future?
See above. We envision a world where controlled environment crop cultivation becomes the predominant source of major highly-perishable produce categories, such as, leafy greens, herbs, vine crops, berries, etc.. As the market grows we need modular vertical farming solutions that are accessible and can scale more easily than the large scale, capital intensive, commercial operations that dominate the headlines today. These solutions are not mutually exclusive and we need both in order to reform our food system. New technologies and new business models are making modular vertical farms viable. We're aiming to be the platform that drives this segment forward.
About Alexander Olesen
Alexander Olesen, CEO, and Co-founder of Babylon has embraced and excelled at every opportunity he has encountered, from academic challenges to bootstrapping his second company, Babylon Micro-Farms, at the age of just 21 while still taking a full course load at the University of Virginia. Originally from England, Alexander relocated to attend the University and was actively involved in the Social Entrepreneur Program, a reflection of his values and determination to incubate a socially good company. The original research into the technology that became the basis for Babylon's success was based on research to provide low-cost food systems for refugees. He maintains the vision for the company and is an expert at managing people and bringing on partners and investors.
The content & opinions in this article are the author’s and do not necessarily represent the views of AgriTechTomorrow
Is AppHarvest the Future of Farming?
In this video from Motley Fool Live, recorded on Jan. 28, Industry Focus host Nick Sciple and Motley Fool contributor Lou Whiteman discuss AppHarvest, one such SPAC that is looking to disrupt the agriculture industry. Here are the details on what AppHarvest wants to do, and a look at whether the company represents the future of farming.
Special purpose acquisition companies, or SPACs, are red-hot right now, with investors clamoring to get into promising young companies.
In this video from Motley Fool Live, recorded on Jan. 28, Industry Focus host Nick Sciple and Motley Fool contributor Lou Whiteman discuss AppHarvest, one such SPAC that is looking to disrupt the agriculture industry. Here are the details on what AppHarvest wants to do, and a look at whether the company represents the future of farming.
Nick Sciple: One last company I wanted to talk about, Lou, and this is one I think it's -- you pay attention to, but not one I'm super excited to run in and buy. It was a company called AppHarvest. It's coming public via a [SPAC] this year. This vertical farming space. We talked about Gladstone Land buying traditional farmland. AppHarvest is taking a very different approach, trying to lean into some of the ESG-type movements.
Lou Whiteman: Yeah. Let's look at this. It probably wouldn't surprise you that the U.S. is the biggest global farm exporter as we said, but it might surprise you that the Netherlands, the tiny little country, is No. 2. The way they do that is tech: Greenhouse farm structure. AppHarvest has taken that model and brought it to the U.S. They have, I believe, three farms in Appalachia. The pitches can produce 30x the yields using 90% less water. Right now, it's mostly tomatoes and it is early-stage. I don't own this stock either. I love this idea. There's some reasons that I'm not buying in right now that we can get into. But this is fascinating to me. We talked about making the world a better place. This is the company that we need to be successful to make the world a better place. The warning on it is that it is a SPAC. So it's not public yet. Right now, I believe N-O-V-S. That deal should close soon. [Editor's note: The deal has since closed.] I'm not the only one excited about it. I tend not to like to buy IPOs and new companies anyway. I think the caution around buying into the excitement applies here. There is a Martha Stewart video on their website talking up the company, which I love Martha Stewart, but that's a hype level that makes me want to just watch and see what they produce. This is just three little farms in Appalachia right now and a great idea. This was all over my watchlist. I would imagine I would love to hold it at some point, but just be careful because this is, as we saw SPACs last year in other areas, people are very excited about this.
Sciple: Yeah. I think, like we've said, for a lot of these companies, the prospects are great. I think when you look at the reduced water usage, better, environmentally friendly, all those sorts of things. I like that they are in Appalachia. As someone who is from the South, I like it when more rural areas get some people actually investing money there. But again, there's a lot of execution between now and really getting to a place where this is the future of farming and they're going to reach scale and all those sorts of things. But this is a company I'm definitely going to have my radar on and pay attention to as they continue to report earnings. Because you can tell yourself a story about how this type of vertical farming, indoor farming disrupts this traditional model, can be more efficient, cleaner, etc. Something to continue paying attention to as we have more information, because this company, like you said, Lou, isn't all the way public yet. We still got to have this SPAC deal finalized and then we get all our fun SEC filings and quarterly calls and all those sorts of things. Once we have that, I will be very much looking forward to seeing what the company has to say.
Whiteman: Right. Just to finish up along too, the interesting thing here is that it is a proven concept because it has worked elsewhere. The downside of that is that it needed to work there. Netherlands just doesn't have -- and this is an expensive proposition to get started, to get going. There's potential there, but in a country blessed with almost seemingly unlimited farmland for now, for long term it makes sense. But in the short term, it could be a hard thing to really get up and running. I think you're right, just one to watch.
New Technology For Pesticide-Free Crops Launched
Terra Vera introduced its offerings in 2020, working with select clients in California, Arizona, Nevada, New Mexico, and Florida, and has now expanded its capacities to serve the agricultural industry across the United States
Terra Vera has launched solutions to replace conventional pesticides and increase product safety and consumer confidence within the agriculture industry. Using patented technologies compliant with EPA regulations, Terra Vera offers producers a safe, effective, and sustainable approach to rid crops of contaminants while preserving the quality and yield of their products.
"Our mission is to improve the quality, consistency, and yield for any grower interested in more sustainable agricultural practices," said Terra Vera CEO and Co-Founder Carlos Perea, who previously founded MIOX Corporation, a technology company with a proven track record of treating drinking water in over 30 countries.
"Our systems typically pay for themselves in a matter of months by replacing expensive, and often toxic, chemical treatments and by increasing yields. Safe and sustainable practices like Terra Vera also help business leaders create consumer confidence and build brand value."
Unwanted pathogens such as viruses, bacteria, and fungi can cause significant crop loss. The Food and Agriculture Organization of the United Nations (FOA) estimates that each year 20 to 40 percent of global crop production is lost or wasted due to plant diseases, animal pests, and weeds. Today, approximately 5.6 billion pounds of pesticides are used worldwide each year to preserve and protect against crop loss. Most available solutions to control and eliminate pathogens on crops are toxic substances that pose a significant contamination risk to the surrounding soil, water, non-target plants, and animals.
Terra Vera’s proven platform technology, which is modeled after the U.S. military’s approach to treating drinking water to EPA standards, is a safe and compliant alternative that is non-toxic for people and the environment. The technology mimics humans’ natural biological process for fighting infections by converting organic, inert compounds into an antimicrobial solution that is safe on live tissue, yet effective at inactivating pathogens, including viruses, bacteria, and fungi.
Terra Vera introduced its offerings in 2020, working with select clients in California, Arizona, Nevada, New Mexico, and Florida, and has now expanded its capacities to serve the agricultural industry across the United States. Its systems are scalable for both large and small agricultural operations in a variety of grow methods: outdoor, indoor, and greenhouse. In addition, Terra Vera’s experienced team works closely with clients to ensure their agricultural solutions are compliant with federal and state-specific regulations.
For more information:
Terra Vera
info@terravera.com
terravera.com
22 Jan 2021
USA: Living Greens Farm’s Salads To Sell In 80 Cub Stores In Midwest
Starting December 2020, LGF’s ready-to-eat bagged salad products (Caesar Salad Kit, Southwest Salad Kit, Harvest Salad Kit, Chopped Romaine, and Chopped Butter Lettuce) will be carried in 80 high-volume CUB Foods stores in Minnesota and Illinois. CUB is known for its focus on food quality and commitment to offering the best produce, period
January 27, 2021
FARIBAULT, Minn., Jan. 26, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Living Greens Farm (LGF), the largest vertical, indoor aeroponic farm in the U.S. that provides year-round fresh salads, salad kits, microgreens, and herbs, announced the addition of significant new retail distribution of its products in the upper Midwest.
Starting December 2020, LGF’s ready-to-eat bagged salad products (Caesar Salad Kit, Southwest Salad Kit, Harvest Salad Kit, Chopped Romaine, and Chopped Butter Lettuce) will be carried in 80 high-volume CUB Foods stores in Minnesota and Illinois. CUB is known for its focus on food quality and commitment to offering the best produce, period.
CUB will receive LGF’s products from UNFI BB #:158953, which distributes food products to thousands of stores nationwide. UNFI’s Hopkins, Minn., distribution center makes LGF products available to the CUB stores along with 100+ additional independent retail stores within their service area. This represents a significant amount of growth in the distribution of LGF products in 2021, continuing an impressive expansion trend for the company. LGF boasted a record sales year in 2020 with 190 new stores serviced and revenues more than doubling 2019’s figures.
LGF’s proprietary vertical indoor farming method yields the highest quality and freshest produce available. This is because there are no pesticides or chemicals used in the growing process. And because LGF’s growing, cleaning, and bagging process significantly reduces handling and time to the retail shelf, consumers enjoy the freshest product on the market. These benefits continue to attract new users and new retail distribution and could possibly lead to even more from UNFI.
For more information on why Living Greens Farm products are the cleanest, freshest, and healthiest farm salads and greens available, go to www.livinggreensfarm.com.
ABOUT LIVING GREENS FARM
Headquartered in Minnesota, Living Greens Farm is the world’s largest vertical plane aeroponic farm. Living Greens Farm produce requires 95% less water and 99% less land to grow year-round and all products are grown without pesticides or GMOs. Living Greens Farm has a full product line that includes salads, microgreens and herbs available throughout the Midwest. For more information, please visit http://www.livinggreensfarm.com.
Contact:
Jarrod Holland
910.431.3322
jarrod@fireworksbydesign.com
Tagged greenhouse, salads
VIDEO INTERVIEW: Fork Farms Experiences “Growth” In Vertical Farming
January 12, 2021
GREEN BAY, Wis. (WBAY) - Hydroponic farming is a way to grow fresh food year-round indoors.
Fork Farms in Green Bay is one company leading the way on vertical farming. You may have seen their hydroponic walls growing fresh greens at the Appleton International Airport. The company has more than 600 installations and just expanded into the overseas market.
On Action 2 News at 4:30, Fork Farms President Alex Tyvink talked about the growth (pun intended) in this industry and how vertical farming can make a difference in communities.
Rise Gardens Debuts Indoor Smart Garden With Alexa Integration
It’s hard to describe the feeling of pride that comes with eating something that you’ve grown yourself
By Cody DeBos
January 15, 2021
Image: Rise Gardens
Growing food looks a lot different than it did even 50 years ago. No longer do you need a sprawling outdoor garden to grow fresh produce for your family. Advancements in the agriculture industry like hydroponics, vertical farming, and smart gardens make it possible to grow things just about anywhere.
These high-tech approaches are highlighted by companies like Rise Gardens. As part of CES 2021, the company announced a new compact Personal Garden. The smart growing system is designed to fit in tight spaces like on a countertop or shelf. It is also equipped with a variety of smart features—including integration with Amazon’s Alexa voice assistant—to make growing produce at home easier than ever.
Indoor Farming
It’s hard to describe the feeling of pride that comes with eating something that you’ve grown yourself. Whether that tomato or bowl of power greens was grown in the ground or in a hydroponic indoor garden, enjoying the fruits (or vegetables) of your labor is extremely satisfying. Not to mention the health benefits that come with eating home-grown produce.
For those who don’t have the space (or desire) to plant an outdoor garden, an indoor solution is a great alternative. Rise Gardens’ proprietary systems make it possible to cultivate high-quality produce in a smart, simple way.
The company’s new Personal Garden joins the larger, modular Family Garden as Rise continues to expand its product lineup.
Consumers are able to grow up to four large plants (like peppers, tomatoes, kale, or swiss chard), eight medium plants (such as fresh herbs and certain flowers), or 12 small plants (like radishes, beets, chives, or lavender). It’s also possible to grow microgreens in the compact setup.
The Personal Garden is just 16-inches wide and 11-inches deep, making it a perfect growing system for those with limited space.
How Does it Work?
The thought of growing plants outside of soil might seem baffling to those who aren’t familiar with hydroponics. In essence, the process aims to replicate the ideal conditions that plants would experience if they were growing outside.
The Personal Garden boasts a unique water flow system to hydrate the plants on a continuous basis so they receive just the right amount of water. Naturally-occurring nutrients like nitrate, phosphorous, and potassium are added to the water to help the plants grow. This recreates the effect of adding manure to the soil in an outdoor garden.
Meanwhile, Rise Gardens’ Personal Garden uses an array of custom LEDs to bathe the plants in broad-spectrum light. This replicates the effects of sunlight, helping the plants grow very quickly and year-round.
Finally, the Personal Garden features a number of smart integrations. Rise Gardens is working on an Alexa skill that makes it possible to control the garden’s lights and water pumps hands-free.
In a press release, CEO and founder Hank Adams said, “Ever since Rise Gardens joined the portfolio of Amazon Alexa Fund companies this fall, we’ve been excited to add voice control to our products and work with the Alexa team. Now it’s easier and more fun to grow your own food at home, year-round, even if you’ve never gardened before.”
Rise Gardens also has a smartphone app that sends users reminders about their plants and when to do things like add water or nutrients. Thanks to this smart connection, you don’t need a green thumb to grow fresh, delicious produce.
For anyone that’s looking to get into hydroponics or gardening at home, something like the Personal Garden is a perfect starting point. Then, when you’re ready to expand, Rise Gardens’ larger systems make it easy to grow food for an entire family, entirely indoors.
TAGS CES 2021
Fifth Season Named The "Official Greens" of The Pittsburgh Penguins
In addition to feeding our players, this partnership represents another way the Penguins are cultivating strong ties with our local Pittsburgh community
Hyper-local, nutritious, and ultra-fresh produce from Pittsburgh-based vertical farming pioneer will fuel the team throughout the 2020-21 season
NEWS PROVIDED BY
PITTSBURGH, Jan. 12, 2021
The Pittsburgh Penguins have announced that Fifth Season, a vertical and robotic farming pioneer headquartered in Pittsburgh, will be the team's official greens provider for the 2020-21 season. The team chef, Chef Geoff Straub, will use Fifth Season's greens in the team's pre-game meals throughout the season.
"Proper nutrition is critical to peak performance, and having access to the freshest, highest-quality and most nutritious produce available will help position our team for success throughout the entire season," said Mario Lemieux, NHL Hall of Famer, Fifth Season partner and co-owner of the Pittsburgh Penguins. "In addition to feeding our players, this partnership represents another way the Penguins are cultivating strong ties with our local Pittsburgh community. Fifth Season's farm in Braddock not only provides delicious, fresh greens, but is helping to revitalize an area of our city forgotten by other businesses."
By delivering its produce within hours of packaging, Fifth Season is setting a new standard for fresh produce. All Fifth Season produce is grown locally and without pesticides, and has an average shelf life of weeks, not days.
Fifth Season salads come in a variety of pre-packaged sizes and are available across Pittsburgh at select Giant Eagle locations and can also be delivered directly to customers' doors. Currently, direct-to-consumer greens and salad subscriptions are available in the Pittsburgh-area at a 10% discount. Local residents and businesses can order Fifth Season salads and greens at www.fifthseasonfresh.com.
"The Penguins are a beloved part of the Pittsburgh community and are at the cutting edge of brand partnerships. We are thrilled to be fueling their pursuit of this year's Stanley Cup," said Austin Webb, co-founder and CEO of Fifth Season.
All produce is grown at Fifth Season's vertical farm located in Braddock, adjacent to the oldest still-operating steel mill in the country. The company has Carnegie Mellon roots and is committed to Pittsburgh by supporting local organizations including 412 Food Rescue and For Good PGH.
ABOUT FIFTH SEASON
Fifth Season is delivering an entirely new category of hyper-local, fresh food with their ready-to-eat salads and sustainable leafy greens grown inside their proprietary vertical farms with proprietary robotics and AI. Fifth Season's newest vertical farm in Braddock, Pa., a historic steel town on the edge of Pittsburgh, features a 25,000-sq.-ft. grow room with twice the growing capacity of traditional vertical farms. It is set to grow more than 500,000 lbs. of produce in its first full year of operation.
The company's fresh, tender lettuces, spinach, "Bridge City" and "Three Rivers" blends, and herbs each receive individualized attention as sensors monitor every condition — humidity, pH, light, nutrient mix — and adjust to each plant's needs. Fifth Season can even determine the perfect nourishment to give varietals their own buttery or crispy, soft, sharp, or tangy flavor and texture. For more information on Fifth Season, its technology and produce, visit www.fifthseasonfresh.com.
2020’s Indoor Farm Venture Capital Bonanza
"The industry raised US$565mm in 2020. This figure excludes several notable rounds where the amounts raised were not publicly disclosed," says Nicola Kerslake, CEO of Contain
In the face of a dismal year, indoor agriculture saw record fundraising from venture capital and other private investors in 2020. "The industry raised US$565mm in 2020. This figure excludes several notable rounds where the amounts raised were not publicly disclosed," says Nicola Kerslake, CEO of Contain.
"New Jersey-based vertical farmer AeroFarms was one of four recipients of funding from the Abu Dhabi Investment Office for its Dubai farm. Late in the year, automated vertical farmer 80 Acres raised a round from British bank Barclays. Elsewhere, at-home kit provider Back to the Roots added a prominent Saudi sustainable ag supporter to its existing investor list for an October 2020 round. Even without these rounds, 2020’s total was up nearly 50% on 2019 and represents a record for the industry, besting 2017’s US$391mm," states Nicola.
Credits: Contain
According to Nicola, vertical and greenhouse farms again represented the bulk of funding, thanks to large rounds from majors such as Bright Farms (US$100mm), Gotham Greens (US$87mm), InFarm (US$170mm), and Plenty Ag (US$140mm). Outside of this, a notable trend was that industry suppliers are now beginning to interest investors. For instance, greenhouse computer vision tech provider iUNU raised a $7mm round led by frequent agriculture investors S2G Ventures and Ceres Partners. Contain Inc, the fintech platform that I lead, has itself been a part of this trend, raising a funding round from the US and European investors at the tail end of 2020.
"This resurgence can be traced to several factors. Most important is the lure of all manner of sustainable agriculture in a world where everyone seemed to become food-obsessed during lockdowns. Increasing industry participation from large produce buyers has also played a part, as they’re seen as an indication of the industry’s viability by venture capital investors," Nicola adds.
In addition, venture capital funds are typically thematic investors, and COVID rendered several of these themes obsolete and encouraged venture capitalists to pivot to new ones. "For example, some parts of the ultra-hot sharing economy theme that spawned companies like Uber suddenly look less alluring when consumers are loath to share space. Meanwhile, themes around health and wellness became far more attractive, benefiting adjacent industries such as indoor agriculture," Nicola affirms.
Credits: Contain
"Going forward, venture capital funds still have plenty of dry powder for investment, after a healthy fundraising environment for them in 2020", says Nicola. Industry researcher PitchBook says that funds raised by venture capital firms rose by nearly a quarter over 2019 levels.[1] The year’s strong IPO (stock market listing) market helped, with tech favourites like AirBNB and DoorDash going public. Indoor agriculture remains a minority sport for investors, 2020’s record haul represents less than that raised in the year by stock trading app Robinhood alone. Nicola adds: "Given this, it’s perfectly possible that we may see another record-breaking year for indoor agriculture in 2021."
For more information:
Contain
nicola@contain.ag
www.contain.ag
5 Jan 2021
Author: ebekka Boekhout
© VRerticalFarmDaily.com
Tips To Reduce Vertical Farm Costs
Light Science Technologies offers a bespoke solution that helps growers to achieve maximum yield while saving costs and energy
There are a number of key variables to consider when setting up your own vertical farm that calls for considerable financial clout. Light Science Technologies offers a bespoke solution that helps growers to achieve maximum yield while saving costs and energy.
The rising AgriTech start-up offers the first of two features offering tips to help you to reap optimum results and high returns.
Tip 1: Location, location, location
While you don’t need as much land as traditional growing, finding the right location for your vertical farm is crucial. The wrong location can prove a costly mistake, so do your homework before committing. Do you have the right local infrastructure in place to get your product to your buyer as efficiently as possible? Can you source enough electricity? How much does water cost in this county compared to the next one over?
Tip 2: Minimize energy costs
However, energy-efficient your operation is, you’re still going to use a huge amount of electricity every year. The most cost-effective solution might be to create your own renewable energy. That isn’t possible for all sites, but even micro-generation could help to bring your OPEX down.
Tip 3: Engage the experts
Let’s be frank: vertical farming is no small subject. Start building relationships as early as possible with people who know everything on it, from lighting and data to botany.
Tip 4: Balance OpEx and CapEx costs
Think big picture in terms of cost. Spending more initially could reap rewards later on. For instance, heavier investment in technology in order to automate seeding, feeding, watering and harvesting will require a greater initial outlay, but a far smaller workforce; labour costs can easily account for over 50% of a vertical farm’s OpEx.
According to CambridgeHOK, a small vertical farm with minimal automation costs around £1,000 per square metre to set up. A large farm with full automation will cost in the region of £3,000 per square metre. You’ll also need to factor in OPEX differences to the growing system you choose (hydroponic, aeroponic, and/or aquaponic).
Tip 5: Don’t cut corners
Buy wisely. Avoid gambling on cheaper products, such as mass-produced imported lighting. Ensure major costs come with decent guarantees and support in place should anything go wrong.
Cutting corners now could cause repercussions later down the line, and not just in maintenance and replacement costs. Cheaper options could spell inflexibility, killing your vertical farm’s true potential.
6. Choose your crops carefully
There are pros and cons to different types of crops. Quick-growing plants tend to be cheaper to grow, resulting in an abundance of product. However, some slower-growing crops, such as medicinal cannabis, can earn you far more per plant. Some crops require less energy. Others take up less space so you can pack more in. Fastidious research and number crunching will help you to choose the best option for your own vertical farm.
Tip 7: Know your audience
Assuming there’s a market for what you’re growing is where you could fall short. Many vertical farmers focus on fast-growing salad crops. In an optimized environment, you could end up producing 30 tonnes of salad a day. But can you guarantee sales of lettuce through the depths of winter? Potentially, this could either mean considerable wastage or letting part of your vertical farm sit idle for weeks on end, which will mean diminishing returns.
Sound planning and organization from the start is essential and will enable you to factor in a different crop switch every few months with flexible lighting systems if required.
For more information:
Light Science Tech
Claire Brown, PR Consultant
claire.brown@lightsciencetech.com
www.lightsciencetech.com
Publication date: Fri 8 Jan 2021
Iron Ox Announces Next Robotic Farm In Lockhart, TX
Iron Ox has purchased nearly 25 acres of land and plans to build a new, state-of-the-art facility on the property
November 6, 2020
LOCKHART, TX, — Iron Ox, a leader in robotics and AI-enabled farming with a mission to solve food insecurity, and the City of Lockhart, Texas today announced that Iron Ox will expand their operations to the city with plans to break ground on a new facility this December, bringing new tax revenue and jobs to Lockhart.
Since 2015, Iron Ox has developed hybrid robotic greenhouses that support a range of produce offerings. To bring those produce offerings to new communities, the company identified Texas as the next state in their national expansion plan with its favorable business environment and rich history of agriculture.
“We’re proud to make Lockhart our next farm outside of California,” said Brandon Alexander, Iron Ox CEO & Co-founder. “Lockhart’s city government, as well as their planning and development staff, worked diligently with us throughout this process and made us feel right at home. In addition, the city's central location within the Texas triangle and short drive from Austin, allows for strong distribution lanes of same-day grown and harvested products throughout the entire state of Texas, making the city the ideal choice for our robotic greenhouse growing platform”.
Iron Ox has purchased nearly 25 acres of land and plans to build a new, state-of-the-art facility on the property. This new facility will house the company’s natural light greenhouses, processing operations and AI-enabled robots to bring fresh, clean and healthy food to new customers and communities throughout Texas.
“The addition of Iron Ox to the Lockhart business community represents synergy between our city’s storied history in agriculture and our growing technology sector,” said Lockhart Mayor Lew White. “The food and beverage processing industry is one of four business sectors Lockhart has targeted in its 5-year economic growth plan because our city’s unique advantages align perfectly with the needs of companies like Iron Ox.”
Mike Kamerlander, Director, Economic Development, represented the Lockhart Economic Development Corporation (CEcD) on this project.
“As Lockhart continues to grow, Iron Ox and companies like it are essential to our economic vitality and future. We thank them for their investment and commitment to Lockhart.”
About Iron Ox
Iron Ox launched the world’s first autonomous farm in October 2018, leveraging advancements in plant science, machine learning, and robotics. The Iron Ox team develops AI-enabled, autonomous technology that enables fresher, more consistent produce to be grown and distributed globally. The company’s goal is to service thousands of communities with the freshest and healthiest products, while establishing global reach and impact on food security.
For more information, visit www.ironox.com.
About Lockhart Economic Development Corporation
The Lockhart Economic Development Corporation, a department within the City of Lockhart, is designed to provide a range of business and economic development assistance. To learn more about opportunities in Lockhart, visit www.lockhartedc.com.
Contact Info:
Taylor Aldredge
570-534-4754
Indoor Ag Fintech Startup Contain Raises Investment Round, Adds Industry Veteran To Team
We have plans to introduce new ways to support the burgeoning indoor agriculture industry in 2021, and this funding round will allow us to do just that.”— Nicola Kerslake, Founder, Contain Inc
NEWS PROVIDED BY Newbean Capital
January 04, 2021
Image from Contain Inc
A Techstars graduate, Contain Inc works with industry vendors and more than 20 lenders to facilitate access to capital for North American indoor growers.
We have plans to introduce new ways to support the burgeoning indoor agriculture industry in 2021, and this funding round will allow us to do just that.”— Nicola Kerslake, Founder, Contain Inc
Image from Rooted Global
RENO, NV, UNITED STATES, January 4, 2021 /EINPresswire.com/ -- Contain Inc, a fintech platform dedicated to indoor agriculture, today announced that it has closed a round of funding from investors in the US and Europe. They represent investments from indoor agriculture, food and beverage, entertainment, and financial industries. The funds will enable further technology development as well as new initiatives that support indoor agriculture. The industry has become ever more relevant in the time of COVID as consumers and produce buyers alike recognize the benefits of local secure produce supply.
Image from Contain Inc
A Techstars graduate, Contain Inc works with industry vendors and a pool of more than 20 lenders to facilitate access to capital for North American indoor growers of all sizes. In 2020, Contain collaborated with Singapore family office ID Capital to introduce a microlearning platform, Rooted Global, that enables corporate employees to grow a little of their own food at home. Its clients include tech and food majors, such as Danone and Dole. Nicola Kerslake, founder of Contain Inc, added: “We have plans to introduce new ways to support the burgeoning indoor agriculture industry in 2021, and this funding round will allow us to do just that.”
In addition, Chris Alonzo, President, and CEO of Pietro Mushrooms, will join Contain Inc to provide consulting services to future leasing clients. Chris brings a wealth of experience in planning, constructing and managing indoor farms across two continents. He is a third-generation mushroom farmer in Kennett Township, PA, an area that supplies half of the US’s mushroom supply. Nicola Kerslake said: “we’re frequently approached by indoor farmers planning large new projects and are delighted to be able to offer the services of such an experienced grower to those looking to bolster their plans before seeking financing.” Chris Alonzo added: “I’m excited to bring my expertise to Contain Inc’s fast-growing team and to engage with a startup that has long supported indoor farmers”.
The Company will also be expanding its team in business development, marketing and product development over the coming weeks, and encourages those seeking roles in this exciting space to visit its website at contain.ag for more details.
About Contain, Inc.
Contain Inc is a US-based fintech platform dedicated to indoor agriculture, growing crops in warehouses, greenhouses, and container farms. The Company works with leading equipment vendors and with an expanding pool of lenders to aid indoor growers in finding funding for their farms. It is also home to microlearning platform Rooted Global, which works with majors such as Danone and Dole to enable employees to grow a little of their own food at home. The Company graduated from the 2019 Techstars Farm to Fork program, backed by Cargill and Ecolab.
More information: https://contain.ag, https://rooted.global
Nicola Kerslake
Contain Inc.
+1 7756237116
email us here
Visit us on social media:
Twitter
LinkedIn
PODCAST: Harry Duran - 2020 Year End Review
A 2020 wrap up by podcast
Be Sure To Check Out
Harry Duran's
Year-End Review Here!
VERTICAL FARMING PODCAST
Listen & Subscribe
PODCAST: An Interview With Henry Sztul - Chief Science Officer At Bowery Farming
In this episode, Harry and Henry discuss the promise that vertical farming provides to the world and why it resonated so soundly with Henry
Season 2 Episode 18
Join Harry Duran, host of Vertical Farming Podcast, as he welcomes to the show physicist, entrepreneur, and self-proclaimed tinkerer, Henry Sztul. Henry is the Chief Science Officer at Bowery Farming, a modern farming company on an ambitious mission to transform the future of food and change the face of agriculture.
In this episode, Harry and Henry discuss the promise that vertical farming provides to the world and why it resonated so soundly with Henry. Henry shares his personal career journey, his thoughts on the current state of agriculture, and what excites him most about the future of hydroponics and the AgTech industry in general.
Listen & Subscribe
Horticultural Glass Price Doubles From Growth In Solar Market
Since September, the price of horticultural glass has changed dramatically. “The glass price has been almost stable for ten years, it only drops a little bit year after year. Yet a couple of months ago, the price almost doubled,” says Michael Lee with Planti
Since September, the price of horticultural glass has changed dramatically. “The glass price has been almost stable for ten years, it only drops a little bit year after year. Yet a couple of months ago, the price almost doubled,” says Michael Lee with Planti. “It’s bad news for everybody, not in the least for growers and builders.” The cause for the price change is the high demand for low-iron glass from the solar industry.
Low-iron glass is a type of glass with – the name might give it away – very low amounts of iron, meaning that it is much clearer than glass with a high iron rate. This type of glass is highly in demand for greenhouses and is also being used in the solar industry.
“This summer the solar business in China developed a lot. It’s a very volatile market usually, but since this summer it has been a strong market, meaning that solar manufacturers are buying a lot of glass for their future business. Many factories like ours, have seen orders from solar panel buyers. The demand for the raw goods is high, and so is the pressure on the factories,” Michael explains. Planii solely serves the horticultural market and does not focus on the solar business. “But since solar panels come in a fixed size and are much easier and quicker to produce, suppliers can make more profit by delivering glass for them, instead of growers. There’s a big shortage of glass in the market.”
The higher price has an effect on greenhouse builders and on growers, depending on whether the price is enclosed in their services or whether they made a fixed price. “Then also we used to deliver glass within a month when we had an order, but due to the pressure on the market the delivery time is higher now: two months or even more.” And it’s not the end of the story. Also, the price of shipping has increased. “Shipping costs from China to Ontario have been stable for many years, yet on top of everything also these costs are higher than before. With a 50% increase, it’s a big issue with great effect on the project prices.”
It’s another unexpected trend that Planti, a relatively young company, is dealing with. Starting in 2017 with HPS and LED lights and expanding rapidly in horticultural glass, the company has seen fast growth. Although they started with the lights as their core business, the horticultural glass now is the majority of the business. “Although last year we delivered more than 10,000 sets of HPS lights in Middle Asia – another reason for the growth we’re enduring,” Michael says. “Yet the demand for horticultural glass rises even faster.”
“We see that diffused glass is being used on every market. Before mainly America and Europe opted for it, nowadays we also send it to Saudi Arabia. Growers all over the world are buying diffused glass instead of clear glass. Then also more growers opt for high haze instead of low haze,” Michael says.
In Europe, most growers buy medium haze, but in the rest of the world, they go for 70% haze, which is a high haze. “Once they’ve made up their mind about the benefits of diffused glass, they want the high diffusion and the higher the haze, the more the light is diffused. This is good for the crops, for the plants to grow in a uniform way – both in flowers and vegetables.”
2020 has of course been challenging for the company as well – both in terms of production and in terms of logistics, yet fortunately, the delays caused by COVID were overcome over the summer. In order to help more growers, the company has decided to keep their focus solely on the horticultural industry, not supplying glass to the solar business. “It’s a stable business. Of course, this market provides challenges, but that’s why we work hard – to deal with these challenges”, Michael says. “We’re working hard to develop the market and believe this is possible since we have more orders every year.”
Yet despite their dedication to the greenhouse industry, they are still dealing with the higher prices for raw materials and pressure on the market. “Horticultural glass is difficult to make, whereas solar glass is easier since it’s a fixed size. Robots can be used to produce glass for solar panels, so nowadays many glass factories are expanding their production. It will take two to three months to start a new line and another two before it runs smoothly, meaning that the prices will stay high until summer next year.”
For more information:
Planti
info@plantiinc.com
www.plantiinc.com
Publication date: Wed 23 Dec 2020
Author: Arlette Sijmonsma
© HortiDaily.com
Agrify Seeks $25 Million IPO For Indoor Agriculture Growth Plan
The firm develops products and related services for the indoor agriculture market
Written by: Donovan Jones Marketplace
Author of IPO Edge.
Dec. 28, 2020
Summary
Agrify has filed to raise $25 million in an IPO.
The firm sells proprietary products and software to the indoor vertical farming market.
AGFY has grown quickly from a very small revenue base and the industry has promising growth prospects.
Quick Take
Agrify (AGFY) has filed to raise $25 million in an IPO of its common stock, according to an S-1 registration statement.
The firm develops products and related services for the indoor agriculture market.
AGFY is a still tiny firm growing topline revenue quickly while operating in a promising industry.
I’ll provide an update when we learn more about the IPO from management.
Company & Technology
Burlington, Massachusetts-based Agrify was founded to provide proprietary hardware and software to enhance the efficiency of indoor agriculture operations.
Management is headed by CEO Raymond Change, who has been with the firm since 2019 and was previously the founder of GigaMedia (GIGM).
Below is a brief overview video of a vertical farming operation:
To read the full article, please click here.
Note: This report is intended for educational purposes only and is not financial, legal or investment advice. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. You should perform your own research before making any decisions. IPO investing carries significant volatility and risk of loss.
Editor's Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
VIDEO: Agroz Aims To Build Malaysia’s Largest Indoor Vertical Farms
Agroz Group Sdn Bhd has announced that it’s building 100,000 square feet of indoor vertical farms in Malaysia throughout 2021, making it the largest of its kind in the country. When completed, the vertical farms can produce 3 tons of clean and fresh vegetables daily
30 DECEMBER 2020
Agroz Group Sdn Bhd has announced that it’s building 100,000 square feet of indoor vertical farms in Malaysia throughout 2021, making it the largest of its kind in the country. When completed, the vertical farms can produce 3 tons of clean and fresh vegetables daily.
The Malaysian-based agriculture technology (agritech) company was founded by serial technopreneuer, Gerard Lim Kim Meng, who has experience in the Malaysian technology and digital industry. The group aims to address the issue of Food Safety, Food Security, and Sustainability in Malaysia with its commercial large scale and industrial-grade indoor vertical farms.
Vertical farms are an efficient way of producing fresh vegetables as it uses less space and water compared to traditional farming on open land. The environment can be controlled accurately which include temperature, humidity and lighting. Since the vegetables are farmed in a well-controlled environment, it also eliminates the need for pesticides and additional chemicals.
According to the press statement from Agroz, it claims that most fresh vegetables including organic ones are several days or weeks old and are preserved “fresh” with large amounts of chemicals and preservatives.
It added that these vertical farms can be built within the community so that they are placed closer to where it’s consumed for a “farm to fork” supply chain. As a result, consumers will be able to enjoy clean, fresh, chemical-free and high quality food within hours.
Agroz will be using a myriad of advanced technologies to ensure that its farming process is repeatable, scalable, and traceable. This would include IoT, big data analytics, artificial and augmented intelligence, machine learning, blockchain, and in the future, 5G, to create a sustainable approach to modern precision agriculture through indoor vertical farming.
The group is seeking to raise RM100 million through issuance of Redeemable Convertible Preference Shares (RCPS), with exit plans in 5 years through a proposed initial public offering (IPO) or via a trade sale to a Special Purpose Acquisition Company (SPAC), if applicable.
According to its founder and CEO, Gerard Lim, they currently have over RM5 million worth of contracts in its order books with millions of dollars more in the pipeline to design, build, operate and manage various indoor vertical farms. He shared that they are currently growing 200kg per month and will soon have the capacity to grow 1 ton per day from their various farms that are already committed.
Gerard added that the indoor vertical farms will create hundreds of new high valued jobs and generate income for local communities in the post-COVID-19 era.
Those who are interested, may drop an email to gerard@agrozgroup.com or visit their official website.
Welcome To The Future of Food!
A unique form of farming is ‘taking rise’ in the UK with fresh food and other crops being grown indoors on special towers using light, hi-tech food production equipment, and hot water
A unique form of farming is ‘taking rise’ in the UK with fresh food and other crops being grown indoors on special towers using light, hi-tech food production equipment, and hot water.
“We construct energy-efficient buildings and create vertical farms inside of them,” said Dr Paul Hilton, CTO of Solar 2 Food Ltd. “With Brexit and also the current crisis we are living through, people understand the value of hyper-local food production and also the benefits of a secure food supply for our communities. Now we have methods, thanks to advances in horticulture lighting, to be able to grow food within buildings in this way.”
But the key difference with other vertical farming operations elsewhere is the inclusion of solar, and in particularly ‘hybrid solar’ i.e. solar panels that produce both electricity and heat. Solar 2 Food parent company Advanced Solar Technologies Ltd are the developers of the technology and their business model is quite simple: capture the heat energy (as hot water) from the hybrid solar panels and use that to help power the vertical farm units.
Partners
“The solar panels produce the hot water really cheaply, so why not use it to help produce food for our communities at a lower cost?” said Solar 2 Food Chairman, Antos Glogowski. “Our vertical farming units are entirely hydroponic, using no soil whatsoever, so the system is effectively ‘plug and play’ with little waste. Our tech partner is Sananbio, part of one of the largest LED lamp manufacturers in the World and they have developed special LED lamps that give plants exactly the types of light they need to grow, and no more i.e. no wasted energy”.
The vertical farm units allow multiple crops to grow in a small space. And rather than one annual harvest each year, the controlled indoor environment of the Solar 2 Food facilities produce fresh food all year round without worrying about changes in the climate outdoors. “The technology also allows us to grow food locally that may usually grow in only certain parts of the world like Asia or Africa”, said Dr Hilton. “You get hyper-local, fresh produce that doesn’t have to travel halfway around the World to arrive on your dinner table, so we are making our own significant contribution towards sustainable, carbon-neutral societies that use only clean, green energy. Surely every business should operate this way?"
PODCAST: Hydroponic Growing System
Learn facts about hydroponic growing systems built out of plastic and metal, it runs on a couple of water pumps and some timers
Learn facts about hydroponic growing systems built out of plastic and metal, it runs on a couple of water pumps and some timers.
Listen
We Have Something New For You...
Our Commercial is designed with 16 trays. More work you think? Nope! They are designed to make (indoor) gardening even easier than before
NEW NEW NEW
We are super happy to present our latest development to you: our Urban Cultivator Commercial stainless steel edition! This timeless design fits seamlessly into any kitchen. Its luxurious appearance makes it a real eye-catcher at the same time.
Our Commercial is designed with 16 trays. More work you think? Nope! They are designed to make (indoor) gardening even easier than before. For more variety in your food and a colorful mixture on your plate. From farm to plate in less than 10 seconds!
DISCOVER NOW
VIDEO: CubicFarms Systems Corp. Announces $2.8 Million Sale of Commercial Scale Systems to Customer in Abbotsford, B.C.
The Company's commercial agreement with Aright for the sale of 16 CubicFarms machines includes 14 growing machines, two propagation machines, and an irrigation system, representing a total of approximately Cdn$2.8 million (including installation and shipping) in sales revenues to the Company
NEWS PROVIDED BY
Nov 23, 2020
The customer intends to evaluate the performance of the Company's technology in B.C. with the potential for international use in other countries where the customer operates
VANCOUVER, BC, Nov. 23, 2020,/CNW/ - CubicFarm® Systems Corp. (TSXV: CUB) ("CubicFarms" or the "Company"), a technology company developing and deploying technology to feed a changing world, announced today that its automated, controlled-environment growing system has been selected by Aright Greentech Canada Ltd. ("Aright"), a British Columbia-based agriculture investor-operator, to grow commercial quantities of fresh produce (the "Abbotsford agreement") for retail markets in the Abbotsford and Chilliwack regions in British Columbia, Canada.
Aright is an international company with interests in environmentally-focused companies in India and other countries, and this B.C. launch is a soft pilot for a potential future international roll-out.
Abbotsford Agreement
The Company's commercial agreement with Aright for the sale of 16 CubicFarms machines includes 14 growing machines, two propagation machines, and an irrigation system, representing a total of approximately Cdn$2.8 million (including installation and shipping) in sales revenues to the Company. The system is expected to be installed in Abbotsford by August 2021.
The Company has received a deposit from Aright with respect to the commercial agreement.
The Company's patented CubicFarms technology will enable Aright to grow high-quality foods, with predictable crop yields indoors, all year round.
Aright also plans to expand its systems after the successful completion of Phase 1 in Abbotsford.
CubicFarms CEO Dave Dinesen commented: "We believe the Abbotsford agreement with Aright helps to further validate the commercial upside of our technology. We are equally excited that Aright, through its parent company, has agreed to develop the Abbotsford site to serve the local market, and commence learning for potentially significant expansion into India. We are looking forward to a seamless collaboration between our teams to successfully grow high-quality, great-tasting, local produce here at home, and potentially in India."
Tanya Mehta, Founder & CEO of Aright, commented: "We are a family of impact operators and investors who aim to have a net positive impact on people, the community and the environment. As next-generation growers, we are driven to be a key player in innovation of AgTech that can feed the rising population through technologically advanced farms that can adapt and operate with consistent results. Planting and harvesting existing croplands on technologically advanced farms that consistently deliver food production without requiring new land is at the heart of this plan to work with CubicFarms. After thoroughly evaluating all available indoor growing options, we determined that it is in the best interests of Aright and our stakeholders to work with CubicFarms, which we predict will be beneficial to launch our BC operations, and to foster further innovations both in B.C. and internationally."
Potential Commercial Opportunities in India
CubicFarms and Aright India will launch a pilot project at Aright's Abbotsford location to assess CubicFarms machine production capabilities for a number of crop types.
After the evaluation is complete, it could culminate in a significant roll-out of the technology in the upcoming years. The potential India commercial opportunity will enable development and commercialization of the CubicFarms' technology, and align to Aright's focus on achieving wide-scale environmental efficiencies for urban areas.
The pilot and the potential commercial agreement with Aright India are not related to the signed commercial Abbotsford agreement, and performance of those units, between the Company and Aright.
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 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 CubicFarms™ system, which contains patented technology for growing leafy greens and other crops indoors, all year round. 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 labour 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, labour, 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.
For more information, please visit 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 CubicFarms' expected revenue recognition, and the completion of the sale and installation of the system by the customer. 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.
SOURCE CubicFarm Systems Corp.
For further information: Investor Information Contact: Adam Peeler, adam.peeler@cubicfarms.com
Phone: +1-416-427-1235, www.cubicfarms.com