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Sunday Wrap-Up: What Happened in The Indoor Ag Sector This Week?

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Sunday Wrap-Up: What Happened in The Indoor Ag Sector This Week?

Every Sunday, discover the recent news highlighting the week in the indoor ag sector.

Sepehr Achard
Oct 23, 2022
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Sunday Wrap-Up: What Happened in The Indoor Ag Sector This Week?

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This edition is sponsored by Ark Ltd & AmplifiedAg. Want to sponsor an upcoming edition? Contact us here.

Bill Gates Energy Venture Fund To Further Investments in Indoor Ag? Credit: Unknown

Good morning readers, today we are going over this week’s indoor ag stock performance and the news highlighting the week in the indoor ag industry.

Indoor Ag companies haven’t had a great week in stock markets as most of them lost more than 10% of their stock value as a result of surprising news, desperate attempts to save the company’s future on markets, and driven by overall market conditions.

In Indoor Ag this week, we have a couple of partnership announcements calling for future funding in the industry as well as a company expanding its product portfolio to meet its demand.

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Good morning readers, operations management in Indoor Ag is critical both in terms of the crop growth process and the construction of new facilities/solutions. Since the pandemic, transportation costs have increased both nationally and internationally driving the cost of consumables as well as the costs of goods sold up as companies started to acquire inventory for up to a year of operations…
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Stock Market Recap Over The Past 5 Trading Days

  • Agrify Corp AGFY 0.00%↑ lost 87.67% of its value since its 1:10 reverse stock split falling to USD 2.22 a share at closing on Friday

  • Kalera KAL 0.00%↑ lost 60.46% of its value since the beginning of the week driven by its decision to divest its seed subsidiary as well as international assets in the hopes of becoming cash flow positive sooner than anticipated. The stock closed at USD 0.28

  • Edible Garden EDBL 0.00%↑ lost 4.35% of its value this week but is at risk of a de-listing notice as the stock has been trading under USD 1.00 a share for over 30 days and received on the 11th of delisting notice from the Listing Qualification Staff of The Nasdaq Stock Market LLC

  • Urban-Gro UGRO 0.00%↑ gained 17.53% over the past 5 days driven by the company's announcement of USD 50M in signed contracts following the acquisition of Emerald Construction as well as the announcement of a binding letter of intent with a Texas-based Engineering company


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This Week in Indoor Ag

Besides, Kalera’s move to divest its Seed subsidiary and international assets, there have been certain announcements that marked the week in the indoor ag sector.

First, Vertical Harvest Farms and FundHer World Capital formed a partnership for long-term growth to support the indoor farming company’s plans to expand locations starting with the large-scale farm in Maine.

“Vertical Harvest Farms was founded by an all-female team and they have inspired us by their unique and successful approach to shaping a new model of civic infrastructure in the U.S. They co-locate their urban indoor vertical farms with affordable housing, all while creating jobs for the underemployed and producing sustainable nutrition-rich produce. While investments are typically transactional, I am looking for our investments to be transformational. Vertical Harvest speaks directly to this goal.” Rose Vitale, co-founding partner of DRA Family Office and Angel Investor with FundHer World

The company mentioned in its press release, that the partnership comes after the closing of their Series A and “lays the foundation for a Series B funding round, with the support of DRA Family Office”

“We have a clear path and vision for the future of U.S. cities that address climate solutions, nutritious food access year-round, and social equity for an underserved population. We are thrilled to partner with women who value this vision, see the sound business model, and want to be part of a better future for our cities and the people who live there,” comments Nona Yehia, co-founder and CEO of Vertical Harvest Farms

The other news is Bill Gates’ Energy Venture fund is said to consider other sectors including indoor farming in a bid to expand beyond climate mitigation towards climate adaptation as the world faces increasing disruption from climate change. Though the company is no stranger to indoor farming (They led the latest funding round by Texas-based Iron Ox), the firm is said to focus on several areas to assist farmers facing increasing droughtiness, and hotter temperatures and ensure crops remain productive.

This move follows a recent announcement made by the Gates Foundation with the Qatar Investment Authority to jointly invest up to USD 200 million over the next two years to help prepare farmers in developing countries to adapt to climate change. The partnership focuses on introducing climate-adaptive farming methods (such as indoor farming) and technology to communities that depend on agriculture for both food and income, primarily in sub-Saharan Africa, said Mark Suzman, chief executive officer of the Gates Foundation.

Lastly, Surna Cultivation Technologies, a subsidiary of CEAD industries is expanding its product portfolio offering water treatment solutions to its clients. In its press release, the company says that it “understands the need for pure, clean water to ensure consistent and healthy crops and will provide a comprehensive water treatment system based on clients’ unique water treatment needs”.

“Surna recognizes that not all water is the same and can vary widely from location to location,” stated Leandru Schiau, Surna Product Manager. “For example, a cultivator on the west coast may have different water chemistries than one on the east coast. Surna can now provide a holistic water purification solution, designed to the cultivator’s water quality, peak water demands, and storage needs.”

Other News

Revol Greens Doubles Its Romain Production With New Texas Facility

Partnership To Leverage Vertical Farming To Bring Personalized Nutrition to North America

Dutch Greenhouse Delta Leads Trade Mission in KSA

University of Surrey Launch USD 4.5M Tree Propagation Project With LettUs Grow

Gardyn Unveils the Next Generation of Its Indoor Garden

Heliospectra Publishes the Interim Report for July-September 2022

Iran Looms Indoor Farming For The Future of Its Agriculture Industry

Events To Attend

3rd Global Vertical Farming Show 29th & 30th November | Welcomhotel By ITC Hotels, New Delhi, India - Read more here.

5th annual Asia-Pacific Agri-Food Innovation Summit on October 26-28 - Read more here.

The Global Community for AgTech and FoodTech Innovators, Cumulus Event - Read more here.

Articles To Read

Food tech: satisfying investors’ appetite for growth? - a David Stevenson Article in Financial Times

Two Perspectives on Closing the Price Gap for Indoor-Grown Leafy Greens - a Greenhouse Grower Article by Janeen Wright

Climate change is fuelling a global hunger crisis — innovation could be the answer - A World Economic Forum Article

A food system for the future – an expert's view by Nestle UK

Fast Company Middle East Awards Red Sea Farms & Pure Harvest Smart Farms in Their 2022 Innovative Company List

Podcasts To Listen

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