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Tag: Scale

5 Questions With Plenty CEO Arama Kukutai

Indoor Ag-Con is excited to welcome Plenty CEO Arama Kukutai to our keynote stage to give the opening morning  address on Monday, February 27, 2023.  Ahead of his keynote, we asked  Arama about some of the company’s exciting developments;  the challenges, trends and opportunities he sees for our industry; and what’s next for Plenty.  Read more in this month’s CEO Q&A:

In  September of 2022 Plenty announced plans to build the world’s largest indoor vertical farm campus near Richmond, VA.  Can you share more details on this exciting project?

We’re building a first-of-its-kind campus of indoor vertical farms, which is significant for a few reasons. The structure of a cluster of farms on a shared site creates increased efficiencies as well as the opportunity to grow a wider variety of crops at scale on a single site. The Plenty Richmond Farm Campus has a potential annual production capacity of more than 20 million pounds of fresh produce. First up is our strawberry farm, which we broke ground on last fall and expect to deliver berries in market with our partner Driscoll’s in 2024.

Plenty and Indoor Ag-Con

Speaking of growth, can you also share any updates on your Compton, CA  farm – including why you selected that location and how it fits into Plenty’s mission and growth strategy? 

We want to be a part of building a food future where everyone has affordable access to fresh produce. The Plenty Compton Farm, which will be fully operational this year, is our first commercial farm, so it’s the culmination of nearly a decade of R&D and a major step forward in scaling our growing capabilities. We’re proud to be bringing agriculture back to Compton, and working with local retailers to increase affordable access to our produce for California and the western U.S.

In your opinion, what are the key challenges that the CEA/Vertical Farm industry must overcome?

Achieving scale, and scaling with positive unit economics, is the key challenge vertical farming has to overcome to be a permanent part of our food system. Energy consumption is also a challenge for our industry, so it’s important to prioritize energy efficiency as well as choose locations with access to cleaner energy sources.

As Co-Founder of Finistere Ventures, a venture firm dedicated to Agrifood investment, what trends or innovations in the industry are you most excited about?

There’s so much innovation happening to shape a new future for food that is more sustainable and equitable. The last decade saw more than $120 billion invested in innovation, now it’s time to demonstrate the commercial proof points. I’m most excited about the development of a hybrid agriconomy that brings together vertical farming, cultivation and fermentation to scale food production in ways that are better for the planet.

Plenty and Indoor Ag-Con 2023What’s next for Plenty?

Our focus for the immediate future  is applying our technology and plant science R&D to commercial farms so we can scale our reach here in the U.S. and build our first international site. Beyond that, we’re continuing to expand our plant science innovation work to diversify the crops we have in market – strawberries are coming next, tomatoes and more are on the horizon. We are also going to announce new partnerships around financing the indoor asset class.

To learn more about Plenty, visit the website.  And, make plans to join us for the 10th Anniversary Edition of Indoor Ag-Con, February 27-28, 2023 to hear Arama’s keynote address AND be part of the largest vertical farming & controlled environment agriculture gathering in the USA!  Learn more. 

Indoor Ag-Con,Brad McNamara, Farm Tech Society to Host Indoor Ag Financing Program | June 8-9, 2021

‘Crossing the Chasm: Financing Indoor Ag From Seed To Scale’ To Feature Panel Discussions With Successful Indoor Ag Entrepreneurs, Their Investors & Other Experts
On Nuances of Financing Across All Stages

What is each stage of financing? How does financing change as you grow?  Can you “skip the line”?  Attendees will get answers to these questions and many more during a special edition of the popular Indoor Ag-Conversations series, “Crossing the Chasm: Financing Indoor Ag From Seed to Scale,”  scheduled for June 8 & 9, 2021 from 1:00 – 4:30 PM each day.  Co-hosted by Indoor Ag-Con, Brad McNamara and the FarmTech Society, the virtual program will bring together successful indoor agriculture entrepreneurs. The program will include  6 panel discussions over two days offering an in-depth look at financing across all stages.

“In surveys on educational offerings, finance/funcing is  the most requested topic we receive,” says Brian Sulllivan, Co-Owner/Partner, Indoor Ag-Con. Crossing The Chasm Financing Indoor Ag Seed To Scale june 8 and 9 2021 “We are thrilled to have the opportunity to work with Brad McNamara and FarmTech Society Chair Ian Kanski for this special edition of our Indoor Ag-Conversations series. “Calling upon their own proven, hands-on industry experience and knowledge, Brad and Ian have put together an incredible program. It will give attendees a crystal clear roadmap to build their CEA funding strategy – from seed to scale.”

Day 1 | June 8, 2021| 1:00 – 4:30 PM EDT   — Seed to Series B – Presented By Brad McNamara 

Featuring 3 in-depth panel discussions with successful entrepreneurs and their investors. Host Brad McNamara, industry advisor, entrepreneur, will push for first-hand accounts of each round. The goal –  to pull back the curtain on funding an idea and creating an investment grade business in CEA.

Sessions will include:

  • Seed – Idea and Opportunity with Allison Kopf, Founder & CEO, Artemis and Ed Kim, Managing Partner, Red Dog Capital
  • Series A – Opportunity and Business with Virginia Emery, CEO & Founder, Beta Hatch and Louis Kang, Managing Director, AccelR8
  • Series B – Business & Growth
Day 2 | June 9, 2021 | 1:00 PM- 4:30 PM | Crossing The Chasm — Presented By FarmTech Society

2020 was a big year for CEA.  In addition,  the next two years are likely to see unprecedented growth and change in the sector. On day 2 of the  Indoor Ag-Conversations ‘Seed to Scale’ event, host FarmTech Society will focus on the maturing of the industry as CEA “crosses the chasm” into mainstream adoption.

FarmTech Society leadership will moderate three panel discussions. These will focuson the realities of profitability and scale in different CEA operations. Sessions will also report  on current trends. What’s more, sessions willl also focus on innovations in finance and investment for the CEA industry. And, forecasting on emerging opportunities and funding strategies for companies and new commercial projects.
Sessions will include:

  • Risks and Rewards -Reality Checking the Economics and Risk Factors of CEA
  • Growing Up – Moving Beyond High Risk, High Cost Investment Capital
  • CEA As Green Infrastructure – Positioning For Scale As Environmental and Social Impact Factors Become Essential to Investor Decisions

Admission to the two-day program, including all six panel discussions, is $49.  To register and learn more about sessions, speakers and additional details, visit www.indoor.ag/webinar.

ABOUT INDOOR AG-CON LLC

Founded in 2013, Indoor Ag-Con has emerged as the premier trade event for vertical farming | indoor agriculture, the practice of growing crops in indoor systems, using hydroponic, aquaponic and aeroponic techniques. The next edition is slated for October 4-5, 2021 at the Hilton Orlando.  Its events are crop-agnostic and touch all sectors of the business, covering produce, legal cannabis |hemp, alternate protein and non-food crops. In December 2018, three event industry professionals – Nancy Hallberg, Kris Sieradzki and Brian Sullivan – acquired Indoor Ag-Con LLC, setting the stage for further expansion of the events globally. www. indoor.ag

ABOUT BRAD McNAMARA

Brad McNamara is a 4x founder and 2x CEO, who thrives where bits & bytes meet the physical world. He is an idea to Series B operator with experience incubating, starting, and scaling hardware and software businesses.  As the Founding CEO of Freight Farms, Inc.,  an ag-tech company on a mission to enable on-site commercial food production anywhere in the world, he built the product, team, and business from zero to a global footprint.  www.bradmcnamara.com

ABOUT FARMTECH SOCIETY

The Farm Tech Society (FTS) is an international non-profit industry association that unites and supports the Controlled Environment Agriculture (CEA) industry, seeking to strengthen the sector through the development and implementation of resilient and future proof methods and technologies for indoor growing.   Board Chair Ian Kanski is also  He is the Director of the Center for Advanced Agriculture and Sustainability at Harrisburg University of Science and Technology.   In addition, he  is co-founder of INTAG, a developer of biological technologies for nutrient recycling, waste and water remediation in the Controlled Environment Agriculture (CEA) sector.  www.farmtechsociety.org