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PitchBook Data Show VC Backs Vertical Farming
Discover this week's top 10 indoor vertical farming news
Good morning readers, Venture capitalists backing up vertical farming, new partnerships, expansions in new markets, and much more!
Here is this week’s top 10 indoor vertical farming news!
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1- PitchBook Data Show VC Backs Vertical Farming
In an article published on June 6th by David Stevenson on PitchBook, Data shows that Venture capitalists throughout the world further their investment in the vertical farming industry as the sector has already totaled nearly USD 800 million in the first 5 months of 2022 compared to USD 1.2Bn throughout 2021. Though the figure is inflated by Plenty’s USD 400 Million Funding round, it does represent to a certain extent the interest Venture Capitalists have.
And, not just VCs but governments also further their investment as the U.S. Department of Agriculture (USDA) recently announced significant investments to support urban agriculture, including USD 43.1 million for grants and cooperative agreements. USDA is investing USD 10.2 million in new cooperative agreements to expand compost and food waste reduction efforts and USD 14.2 million in new grants to support the development of urban agriculture and innovative production projects. Additionally, $18.7 million will fund 75 worthy grant proposals from the 2021 application cycle, which was oversubscribed. The United Arab Emirates also furthers its investment in indoor farming technologies as, according to the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), two agreements have been awarded, the first (Valued at USD 71 million according to ME Construction News) being with Emirates Hydroponics Farms to build and operate a hydroponic farm for the production of vegetables, fruits, and mushrooms in controlled environments with a surface area of 325,000 sqm.
Read the rest here.
2- LettUs Grow & Vertically Urban Partner To Light Up Container Farms
LettUs Grow has partnered with a light provider, Vertically Urban, to use their ultra-slim Horti-Blade LED light in DROP & GROW container farms.
DROP & GROW container farms are vertical farming systems inside a shipping container. This modular solution allows growers to pilot test their business plan, create perfect environmental conditions for different crops by using multiple containers, and scale up their operation as their business grows. LettUs Grow’s container farms use aeroponic technology, an irrigation system that uses no soil. Instead, water and nutrients are provided using a mist, created using ultrasonic technology.
Within an indoor farm, natural light is substituted for an artificial source, the most energy efficient being LED based. Using artificial light allows growers to control light intensity, photoperiod & colour spectrum – so plants can be given exactly what they need, when they need it. Choosing the correct LED luminaires within controlled environment agriculture is crucial, both for plant growth performance and energy efficiency.
3- FSG & PANGEA Global Technologies Join Forces to Deliver CEA Customer Success
Facility Solutions Group (FSG) announced today a new product and service delivery partnership with Los Angeles, California-based PANGEA Global Technologies (PGT). The new partnership is poised to significantly impact the Controlled Environment Agriculture (CEA) market through the delivery of products and services that represent an industry-first turnkey option for U.S. commercial horticulture operators.
As part of the new partnership, PGT’s market-leading lighting and control products will be offered as part of a package that includes FSG’s national distribution, installation, and service capabilities. For customers, this synergy between one of the CEA industry’s best product manufacturers and one of the nation’s Top 20 lighting and electrical contractors will result in a single-source solution for all their lighting, control system, and service needs.
4- Global Vertical Farming Show Set in July at Hotel Conrad Dubai
After the successful establishment of its 1st series of the Global Vertical Farming Show (Virtual Connect), its organizers TAB global are back with its 2nd edition—targetting the emerging industry of Vertical Farming, Indoor Farming and Controlled Environment Agriculture.
Global Vertical Farming Show 2022 (GVF 2022) – 2nd Edition is the trailblazing and ground-breaking Exhibition and Conference of its kind – which aims to bring the entire vertical farming value chain under one roof to gain insight into the latest developments within the Vertical Farming Industry, explore the market, meet international experts, introduce their brand, forge new partnerships and understand the opportunities to grow business.
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5- 4 Companies Shaping The Future of Farming in Ontario, Canada
Ontario farmers faced unprecedented challenges following a series of climate hazards, global supply chain disruptions, and important shortages in labor. Recently, Senator Robert Black has pointed out the problems the supply chain had due to labor shortages and vacancies of above 20% as the companies couldn’t find the required labor to fill in the product lines thus affecting the entire supply chain from producers to the end-users.
Companies thus seek alternative solutions to the issue in order to prevent further damages. Indoor vertical farming is seen by many, as a potential solution to some type of agriculture and has since attracted large investments to continue the research and expand operations throughout the country and sometimes throughout the world. Today, we take a look at 4 Ontario-based companies shaping the future of farming through their technology or their services. Read the rest here.
6- New HBCU Agribusiness Innovation Center at NC A&T State University
The U.S. Department of Agriculture announced today a $1.92 million investment to establish an Agriculture Business Innovation Center at North Carolina Agricultural and Technical (NC A&T) State University, a Historically Black College and University (HBCU) located in Greensboro, North Carolina.
“This new innovation center will serve as a technical assistance hub to enhance agriculture-based business development opportunities nationwide,” said USDA Deputy Secretary Jewel Bronaugh during a two-day strategy meeting with 1890 Land-grant Universities and USDA officials. “The Biden-Harris Administration is committed to supporting historically underserved communities and this new center will be pivotal as we continue to build back better the fabric of our nation’s communities and businesses. This latest investment will expand the capacity of our nation’s HBCUs to advance multidisciplinary teaching, outreach and integrated projects to build better markets, enhance economic development and support new and existing agricultural businesses.”
7- Zayndu Aurora Z25 Harnesses ‘Plasma Agriculture’ To Prime Seeds For Accelerated Growth
Ten percent more plants from the same number of seeds, faster germination, healthier plants, and 25% more fresh weight at harvesting* – by using ‘plasma agriculture’ to clean and prime the seeds in one operation, the new Zayndu Aurora Z25 system has been shown to increase productivity in Vertical Farms. The company is discussing its latest results at GreenTech Amsterdam (14-16 June 2022).
As energy costs bite, Controlled Environment Agriculture (CEA) is looking for incremental ways to boost productivity, and reaching a higher volume of produce in a shorter time is key to this. Read the rest here.
8- Signify Helps Kwekerij Loos Make The Switch To Full LED Lighting
Signify, the world leader in lighting, is set to provide Kwekerij Loos with 2.1 hectares of LED lighting this autumn. At its sites in Moerstraten and Lepelstraat – both located in North Brabant – the grower has opted for Philips GreenPower LED toplighting compact in combination with flowering lamps. With this investment, the nursery is switching over to a full LED installation in less than a year, enabling it to achieve energy savings of around 40%. It already made the partial switch to LED lighting last year, which has been a success. With the current high energy prices, the Brabant-based company didn’t need long in deciding whether to take the next step.
9- Serba Dinamik To Bolster Middle-East Presence With Vertical Farming
SERBA Dinamik Sdn Bhd has strengthened its presence in the Middle East by signing a memorandum of agreement (MoA) with the United Arab Emirates as reported by the Malaysian Reserve. The MoA signed on May 19 will focus on three areas: Vertical farming, infrastructure/ property development, and integrated solutions for the Oil and gas industry.