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Sunday Wrap-Up: New Acquisitions, New Funding Rounds & New Deals
Discover every Sunday a complete wrap-up of the week in the indoor farming sector.
Good morning readers, this week in Indoor Farming, Pure Flavor® has acquired DeTemporada Farms, a 25-acre greenhouse bell pepper farm located in Merlin, ON. This acquisition is part of the company's ongoing expansion efforts and will help to increase the company's owned acreage and drive efficiencies in their operations.
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Additionally, Voltiris, a Swiss company, successfully raised CHF 1.4M (USD 1.5M) to further scale its technology that creates photovoltaic modules made exclusively for glass greenhouses, allowing for the production of power from greenhouse surfaces without hindering crop growth.
Other notable news includes Siemens partnering with 80 Acres Farms to scale vertical farming, NASA awaiting the return of SpaceX Dragon Cargo to study results of hydroponic research, Urban-Gro reporting record backlog, and more.
This Week’s Editorial
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This Week in Indoor Farming
Pure Flavor® has acquired DeTemporada Farms, a 25-acre greenhouse bell pepper farm located in Merlin, ON. This acquisition is part of the company's ongoing expansion efforts and will help to increase the company's owned acreage and drive efficiencies in their operations. DeTemporada Farms, known for its unique micro-climate, will grow red, yellow, and orange sweet bell peppers and expansion is already underway for the farm’s next phase, set to be completed later this year. With the addition of this 25-acre farm, Pure Flavor® will have an even greater supply of fresh vegetables for its customers.
The management of Pure Flavor® are excited about this acquisition, as it is a strategic move that shows their commitment to growth and meeting the increasing demand for fresh, locally grown produce. Through its owned farms and family of growers, Pure Flavor® now manages nearly 1,000 acres of greenhouse-grown fruits and vegetables. The company's President, Jamie Moracci, stated that this acquisition will help them to grow alongside their grower partners and support their strategy of scaling up their operations to drive efficiencies.
The acquisition of DeTemporada Farms is a significant step forward for Pure Flavor® as the company continues to expand its operations and increase its owned acreage. This acquisition will help the company to meet the increasing demand for fresh, locally grown produce, and support its mission of providing high-quality, sustainable produce to customers. The company is also currently in the process of constructing a new Phase IV 40-acre organic greenhouse in Leamington, ON, which is set to be completed this month.
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GGBA Switzerland reported that Voltiris, a Swiss company, successfully raised CHF 1.4M (USD 1.5M) to further scale its technology. Photovoltaic modules made exclusively for glass greenhouses have been created by Voltiris. The modules make it possible to produce power from greenhouse surfaces by using them twice without hindering crop growth as usual. By utilizing this technology, greenhouse producers may become more self-sufficient in terms of energy, boost their profitability, and dramatically lower their carbon impact. The simultaneous preservation of biodiversity and the rapid deployment of renewable energy benefit society as a whole.
“Voltiris has created a special solution for greenhouse farmers that not only contributes to energy conservation but also strengthens the robustness of our food chain. This is a significant development and one of several that will be required to combat climate change.” Ivo Petrov, a member of Business Angels Switzerland and adviser at AgFunder, expressed his admiration for the Voltiris leadership and team and his confidence in their ability to carry out this ambitious objective.
The start-up has secured CHF 1.4 million in a pre-seed round headed by prominent Swiss investors Serpentine Ventures, Business Angels Switzerland, and SICTIC, in addition to obtaining assistance from the Swiss Climate Foundation, after securing money from the FIT in May 2022. By growing commercial pilots, laying the groundwork for industrial production, and bolstering the current team with crucial skills, the increased monies will be utilized to speed up research and commercialization.