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Tag: vertical farming

A Unique Form of Funding Could Provide Relief For Indoor Vertical Farms

High Operating Costs and Shrinking VC Are Big Challenges

Indoor vertical farming has seen significant growth. In fact, the industry is expected to exceed $35.3 billion by 2032, up from $5.6 billion in 2022. It is also expected to achieve a compound annual growth rate of 20.8% by 2032, according to Market.us.

There’s a lot driving the trend. Supply chain issues have disrupted distribution for traditional farms. The climate crisis will continue to reduce crop yields. We’re seeing increasing demand for year-round access to fresh fruits and vegetables. And a growing population means we need more food for more people.

The world needs indoor and vertical gardening — and investors have taken notice. Last year, indoor vertical farming investments surpassed $2.4 billion.

Whether that type of investment continues is uncertain. According to PitchBook’s Q1 2023 AgTech Report, indoor farms raised $75.8 million globally across 14 deals in the first three months of 2023, down 70% in deal value from the previous quarter and 91% year-over-year. So far this year, there’s less VC funding available to fill indoor farmers’ coffers. It doesn’t mean the money’s not available; it just may be harder to obtain.

Current challenges eat away at capital

CSC Leasing Guest Post 1

Indoor farmers are facing some headwinds right now. Generally speaking, indoor and vertical growing facilities come with hefty operating costs. These organizations need significant capital to build out facilities and buy equipment.

Additionally, these facilities require a great deal of energy to operate, and that is particularly challenging as we saw electricity prices rise 10.2 percent over the last year, according to the U.S. Bureau of Labor Statistics. Organizations in the industry need cash reserves to cover these high costs.

Indoor vertical gardening also requires highly skilled, qualified people to run the operations. Organizations are competing for workers with a unique skill set in a small talent pool. They need the money to both recruit them and pay them their value.

For many organizations, the cost of building and running their operations is bleeding the equity well dry. They simply don’t have the capital for activities that enable them to scale, like expanding their facilities, hiring the right people, and marketing their product.

Overcoming these challenges requires thinking outside of the box in terms of funding.

Extending the cash runway with equipment leasing 

With the potential for less money coming in from outside sources—and both the cost of inflation and energy not going anywhere in the near term—indoor and vertical farming companies will need to figure out ways to stretch the money they do have.

One way to do that is through equipment leasing, which is a flexible low-cost way to finance the type of equipment needed to build and outfit an indoor growing facility. CSC Leasing, for example, offers a non-dilutive equipment lease line up to $20 million that doesn’t have warrants or require restrictive covenants.

Also, what many business owners don’t know is that they may be eligible for a sale leaseback, where an equipment financier purchases pre-owned equipment and places it under lease. For example, CSC offers up to 100% reimbursement, providing organizations with a much-needed influx of cash.

Equipment leasing can enable organizations to:

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  • Conserve equity capital and bank facilities for mission-critical growth and other key operating initiatives, rather than spending it on depreciating assets.
  • Plan more effectively and establish a safety net with predictable payments spread out over several years.
  • Hold on to equity in the business—if the lessor offers non-dilutive equipment financing options.
  • Gain the liquidity to respond quickly to overcome challenges, act on opportunities and avoid risks.
  • Stay on the cutting edge with new technology and avoid the burden of costly obsolescence and equipment disposal.

Ultimately, equipment leasing can provide indoor and vertical gardening organizations with the cash they need to continue to grow the business—even as challenges persist.

CSC leasingIf you would like to learn more about CSC’s variety of solutions, contact Jess Hawthorne at jhawthorne@cscleasing.com or 804-239-7368.

 

 

 

iGrow News Launches Market Research Division

Indoor Ag-Con media partner iGrowNews, a prominent news platform renowned for its extensive coverage of industries within the agriculture sector, has launched a new Market Research Division.

This new division provides tailored market research services based on each client’s unique needs and challenges. Leveraging the expansive database they have amassed over the years, iGrow News aims to offer unparalleled insights spanning various industries such as Controlled Environment Agriculture (including Indoor Farming, Vertical Farming, Greenhouses, and Container Farming), Robotics & AI in Agriculture, Crop Nutrition, Crop Protection, Agriculture Machinery & Equipment, Farm Management Software, and Sensors & IoT in Agriculture.

In the age of data-driven decision-making, iGrow News’ decision to launch this division reflects its ongoing commitment to meet the evolving needs of its clients. “We have always strived to bring relevant news and information to our audience. With this new division, we are taking it further by providing actionable insights derived from a deep analysis of our vast industry data. This move positions us as a news platform and a strategic partner for businesses,” says Sepehr Achard, CEO of iGrow News.

The Market Research Division will utilize the latest techniques and methodologies in data analysis to provide actionable market insights, in-depth reports, and strategic recommendations. This will equip clients with the knowledge they need to make informed decisions and stay ahead in their respective markets.

iGrow News invites all interested parties needing tailored market research services to reach out and explore how this new initiative can meet their unique needs.

iGrow News is a leading news platform specializing in the agriculture technology sector. They deliver industry news and information, helping professionals stay updated on current trends and developments. With its new Market Research Division, iGrow News is set to offer more personalized services to businesses, contributing to strategic planning and informed decision-making.

News website: igrownews.com

Reports: agtechreports.com

 

Press Contact:
Sepehr A. Achard
Chief Executive Officer
e: sepehr.achard@igrow.news

Revolutionizing Agriculture: AdeptAg Ushers in the Era of Sustainable Vertical Farming

In the green revolution of the 21st century, one organization stands as a beacon of innovation and sustainable practices—AdeptAg. Established by CEO Rick Parod in early 2022, AdeptAg’s mission has always been to redefine the concept of farming for a more sustainable and efficient future. To that end, they’ve assembled an industry-leading ‘Family of Experts,’ absorbing forward-thinking entities like AgriNomix Automation, Bellpark Automation, Plantech Control Solutions, and Zwart Irrigation Solutions. Their unique blend of expertise in Vertical Farming and Controlled Environment Agriculture (CEA) solutions has made them the horticulture industry’s frontrunner.

The concept of Vertical Farming is not as contemporary as it might seem, with roots plunging deep into ancient history, as far back as the Hanging Gardens of Babylon in 605 BCE. However, it wasn’t until the 20th century that it truly began to blossom as a practical method of farming. The turning point was during WWII, when hydroponics—a subset of Vertical Farming—was employed on a large scale to feed the Allied Forces in the South Pacific, yielding over 8,000 tons of produce. The concept was refined further at Columbia University between 1991 and 1999, under the guidance of Professor Dr. Dickson Despommier. Now hailed as the father of modern Vertical Farming, Despommier and his students successfully devised a way to sustainably feed New York City’s populace via rooftop agriculture, birthing the contemporary approach to multi-story farming.

This promising concept has seen substantial developments over the past decade, thanks to rigorous research, dedicated education, and a relentless drive for global sustainability. Vertical Farming, in conjunction with CEA practices, has enabled growers to raise crops using significantly less land and water. The cherry on top? Complete environmental control, empowering farmers to improve both crop quality and yield.

As we approach a future where our population is projected to surge to two billion within the next three decades, we must rally as a society to ensure sustainable food production. Here’s where AdeptAg steps in, poised to make a maximal impact on eco-friendly growth practices. Through its four business units, it offers an impressive array of solutions from over fourteen suppliers, catering to growers of all scales and requirements.

From the very first day, growers partnering with AdeptAg witness the benefits of a relationship forged in expertise and dedication. Recognizing the unique nature of each grower, environment, and crop, AdeptAg’s skilled team offers a personal experience, helping to formulate the best strategic decisions for your unique situation. Whether you need to augment an existing facility or seek a full-scale turnkey solution, AdeptAg aims to enhance your product quality, increase capacity, tackle labor shortages, advance sustainable practices, and ensure a return on investment.

AdeptAg’s expertise transcends size and product, serving large and small growers alike: whether they cultivate produce or cannabis, operate a vertical farm or maintain a greenhouse, use traditional practices or automation – and everything in between. Their commitment to quality care and expertise is a constant, backed by 24/7 service and support, as well as a fully equipped dedicated parts department. As we navigate the green revolution, AdeptAg leads the way, ensuring that the future of farming is sustainable, efficient, and inclusive.

To discover our solutions, visit our website: adeptag.com

Hydrofarm and CEA Advisors Announce Strategic Alliance

hydrofarm and growtainer Hydrofarm Holdings Group, Inc. (“Hydrofarm”), a leading manufacturer and distributor of equipment and supplies for controlled environment agriculture (“CEA”), today announced that it has entered into an exclusive strategic alliance with CEA Advisors, a global design/build consultancy to the vertical farming industry and manufacturer of Growtainers® and Growracks®, to accelerate their expansion into the growing and evolving CEA space for both food and non-food production.

(Photo above — (L-R) Glenn Behrman and Chris Mayer – compliments of Vertical Farm Daily)

Hydrofarm’s Innovative Growers Equipment (“IGE”) commercial division will serve as the North American manufacturing and marketing hub for Growtainers® and Growracks®. IGE’s Sycamore, Illinois facility combines manufacturing, research and development, and warehouse space serving the global market.

“We are excited about our relationship with Glenn Behrman and CEA Advisors. It will bring great enhancements to the creative solutions and support we provide to the CEA market,” said Chris Mayer, SVP and Head of Hydrofarm Commercial. “Our priority is to be one of the most important global providers of CEA products and services. We believe that the CEA industry has tremendous potential, and we are very excited to have a 50-year veteran of the global horticulture industry on our team.”

“Working with the Hydrofarm team, IGE, and Chris Mayer is a dream come true for a company like CEA Advisors,” said Glenn. “I’m convinced that collaboration is the key to success in today’s challenging economic environment. We strongly believe that in CEA, there is great opportunity for new farmers globally, and that is why our first initiative will be the design and distribution of an affordable entry level Growtainer®. The beginning CEA farmer can learn and experience this type of production with minimal investment and then move on to other more sophisticated systems that are available.”

About Hydrofarm Holdings Group, Inc.

Hydrofarm is a leading independent manufacturer and distributor of branded hydroponics equipment and supplies for controlled environment agriculture, including grow lights, climate control solutions, growing media and nutrients, as well as a broad portfolio of innovative and proprietary branded products. For over 40 years, Hydrofarm has helped growers make growing easier and more productive. The Company’s mission is to empower growers, farmers and cultivators with products that enable greater quality, efficiency, consistency and speed in their grow projects.

www.hydrofarm.com

www.innovativegrowersequipment.com

About CEA Advisors LLC

CEA Advisors provides Consulting services on the global development of turnkey innovative investment grade indoor farming projects from concept to implementation, including design, engineering, technology procurement, installation, and hands on project management for a wide variety of international clients including Start-Ups, Biotechnology firms, Government Agencies, Universities, Commercial Growers, Researchers, Pharmaceutical Manufacturers, Food Manufacturers, Food Processors and Grocery Retailers.

Glenn Behrman has always been a disruptor and an industry pioneer, a hands-on “C’ level executive in the Horticulture industry for over 50 years and laser focused for the past 13 years on Controlled Environment Agriculture as founder and President of CEA Advisors LLC.

www.cea-advisors.com

www.growtainers.com

Winter Farm Cultivates Success With Integrated Farming Approach, Sustainable Solutions

 

Winter Farm Q&A with Indoor Ag-Con
Winter Farm leaders (L-R) Yves Daoust, Founder and CTO and Alain Brisebois, President and CEO

Winter Farm’s focus on environmental sustainability, achieving food autonomy, and strategic partnerships has garnered attention and headlines, with recent funding of $46 million raising the bar for its ambitious goals. Indoor Ag-Con had the chance to catch up with the innovative Quebec-based company’s leaders — Yves Daoust, Founder and CTO (pictured above left) and Alain Brisebois, President and CEO (pictured above right)  — to discuss the advantages of their approach, their goal of helping growers replace 10% of Canada’s strawberry imports, the renowned Fraise d’hiver strawberry, funding strategies and future opportunities in the CEA industry.

 Winter Farm is described as a “tech company that designs, deploys, and operates controlled environment agriculture (CEA) solutions that work in harmony with existing agrifood systems.” Can you share how your technology and approach differ from other vertical farms and advantages it offers in terms of yield, quality, and cost-effectiveness?

Yves Daoust: Winter Farm’s concept fully integrates a strawberry vertical farm with an adjacent greenhouse: this shows the company’s deep understanding of the grower’s reality. As a result, our strawberry vertical farm is capable of efficiently heating the greenhouse in the wintertime. As heat recuperation is a major concern in controlled environment agriculture (CEA), this solution constitutes a major innovation that reduces the dependence of greenhouses on fossil fuels and lowers their carbon footprint. In addition, the integration allows for additional revenue generation as farmers can grow strawberries in the vertical farm, as well as peppers, lettuce, eggplant, or tomatoes etc. in the greenhouse using the same amount of energy. The Winter Farm solution exemplifies that it is possible for CEA to be both profitable and environmentally sustainable at the same time. To realize this dual objective, we use a multidisciplinary approach to intelligent automation –  integrating producers’ knowledge, agronomy, engineering,  and artificial intelligence (AI). Our system of environmental digital control, CERVEAU, aims to optimize yield, maximize energy efficiency, and improve revenues by fully characterizing the strawberry plant’s behavior in CEA by data,  physical modeling and machine learning.

One of Winter Farm’s goals is to help growers replace 10% of Canada’s strawberry imports.  Can you speak to some of the environmental and economic benefits that could come from achieving this goal, and how Winter Farm is working to make it a reality?

Alain Brisebois: Vertical farming is a promising new agricultural advance that holds potential for sustainable agriculture in the future.  At Winter Farm, in addition to providing efficient heating of the adjacent greenhouse, vertical farming eliminates the need for chemical pesticides well known for their harmful effects on both the environment and human health. Additionally, since Winter Farm allows local production, it minimizes transportation needs, further reducing the carbon footprint of fruit and vegetable production. Further benefits of our production practices include significantly lower water usage compared to traditional field production and the maximization of cultivable areas with the vertical stacking of the production. By utilizing heat management and recovery technology, we enable growers to produce an array of greenhouse produce in winter, thereby jointly promoting food autonomy and generating additional revenues for the growers. Our goal is to offer sustainable solutions for agriculture, not just for Quebec, but for the communities worldwide that face challenges related to food security.

Please share a little more about the Fraise d’hiver Strawberry and what makes it so special. 

Alain Brisebois: Fraise d’hiver literally translate to “winter berry”. Quebec is renowned for its tasty field strawberries. It brings us a lot of pride to be able to offer consumers that special Quebec taste during the winter months!  Thanks to an optimally controlled environment that ensures high quality, freshness and flavor, the Fraise d’hiver strawberry’s natural sweetness and vibrant red color are truly what make it stands out in the market.

Congratulations on the recent announcement of your $46 million raise! We read that this funding is coming from a variety of sources, including government organizations and private partners.  Can you talk about Winter Farm’s approach to securing funding and building strategic partnerships? 

Alain Brisebois: Thank you very much! In an emerging industry like ours, financing is crucial. This funding was especially important to us as it demonstrates that our concept can be successfully integrated into the agricultural industry and that CEA can be both sustainable and profitable. Winter Farm’s approach to securing funding and building strategic partnerships has always been guided by a strong commitment to innovation and a profit-driven mindset. Additionally, our company’s goals and vision are in line with government priorities, such as promoting food autonomy, reducing greenhouse gas emissions, and developing a more sustainable economy. When we designed the solution, it was paramount that it be eligible to the available agricultural financing and support programs. We have also demonstrated how the agricultural sector can embrace the digital era with cutting-edge technology that is ready to deploy, which has been instrumental in our success so far. Our Vaudreuil location will soon be producing nearly 1 million kilos of strawberries per year, which is a significant achievement for us and the vertical farming movement. We are now thrilled to continue partnering with growers and building new sites!

What do you see as the biggest opportunities for the CEA industry as a whole in years to come, and how is Winter Farm working to seize them?

Yves Daoust: Currently, a major focus in CEA is on energy accessibility and cost. Winter Farm’s success has been based on addressing this aspect from the outset. This has provided us with the momentum to continue building an increasingly sustainable and profitable CEA solution for fresh produce agriculture. Innovation is crucial for the future of the industry, and as such, Winter Farm is committed to furthering our AI-driven work in agronomy and engineering. Our goal is to ensure that our technologies are profitable and accessible to growers worldwide.

To learn more,visit the Winter Farm website. 

 

AGEYE Technologies CEO Nick Genty Talks Profitability, AI and the Future of Indoor Farming With HYVE Partnership

As the indoor farming industry continues to grow, the need for profitability remains a significant challenge for commercial growers. AGEYE Technologies is helping lead the way in automated platform monitoring for vertical farms and greenhouses and CEO Nick Genty provides insight into how they are addressing this challenge, as well as their advancements in AI and machine learning.    In this month’s CEO Q&A Nick also talks about AGEYE’s new partnership with HYVE Indoor Farming Systems, their recently announced indoor farm project in Nebraska and future growth plans.

What is one of the biggest challenges facing the indoor farming industry today and how is AGEYE working to address it.

AgEye TechnologiesThe most significant challenge we see is the need to reach profitability. We’ve all seen the recent headlines of farms shutting down, being delisted, or going through intensely difficult and desperate financial times. We’re starting to see that for many stakeholders, the hype is waning, the honeymoon is over, and investors want to see a return on their investment – or at least a very substantive and believable path to it. For CEA to truly become commercially viable and scalable, farmers need systems and support that help them produce a marketable product in a reasonable timeframe, and with enough margins to see a profit.  As an industry, we need to focus more on celebrating the farms that reach profitability and less on how much money has been raised.

How does AGEYE stay ahead of the curve when it comes to advancements in AI and machine learning, and what impact do these technologies have on your monitoring platform?  

AgEye TechnologiesAI is evolving faster than any other technology we’ve ever seen. Generative AI like ChatGPT can produce an entire screenplay or write the code for a new app in a matter of minutes.  However, the current version is already being replaced with an even more powerful version, GPT-4, which is said to be capable of creating full movies from simple text prompts. This massive jump in performance is due to a 10x increase in data parameters used for training.  At AGEYE, we believe the future of indoor farming is data-driven, and our commitment to this goal drives everything we do. In 2019 we started training our vision models to detect crop stress.  Fast forward to today, and we’ve expanded our AI platform to cover every aspect of an indoor farm. We’re collecting thousands of data points per plant, per cycle, that we aggerate with environment, energy, and labor data to produce powerful insights and unprecedented visibility across an entire operation.  We’re empowering growers with the technology and tools they need to become efficient, sustainable, and, most importantly, profitable.

Can you tell us more about the partnership between AGEYE and HYVE Indoor Farming Systems- – How did this collaboration come about and what are the main benefits the partnership will bring to commercial growers?

Our first introduction actually happened at a previous Indoor Ag-Con. There are a lot of moving parts in this industry, and things change so rapidly. It’s easy to be sucked in by what might turn out to be smoke and mirrors, but there was something about our initial meeting with HYVE that led us to believe there was substance backed by significance and passion.

The combination of automation, crop intelligence, exceptional hardware and lighting – it all seemed like it was there. It was evident that we both had tangible evidence and proof of concept for what we could do on our own, but more importantly, together. Collaboration has often been a theme in this industry and we could see early on that we complemented each other well in areas where one might not be as strong as the other. We both had experiences apart and we shared and leveraged those experiences on an early trial project together. This project proved to us both that we really felt that the sum of our parts was greater than what it should have been – almost like adding 1 + 1 to get 3.

For our customers and prospects, the main benefits are just immense. We believe that we have a revolutionary turnkey system that combines the absolute best in hardware, lighting, infrastructure, software, and AI controls and monitoring. These are some very tangible attributes. What we also think is a huge benefit is our flexibility in what we do. We have scalable systems and feel invested in the commercial farmer as if it were our own money. We see a pathway to profitability for the commercial farmers we work with by being a ‘right-sized’ entity with experience to back what we say we can do. Our methodology removes much of the guesswork and mitigates some of the risks that growers encounter. It’s really an exciting time to be invested together in a partnership where we share such diverse talent sets, system integrity, and vision for what indoor farming can become.

What challenges do you anticipate in building the new indoor farm in Nebraska, and how will AGEYE work with HYVE to overcome them?

There are some very fundamental challenges that come with any installation, and while each installation is a bit different, many things we see are common. In the Nebraska installation, we will be retrofitting an existing building. This is quite common. One could argue that an optimal vertical farm would be created in a building specifically designed for vertical farming because everything from airflow to automation and intelligence would fit perfectly into a well-designed and very intentional space. This removes some of the challenges of altering what can sometimes seem like a square peg that needs to be implemented into a round hole. But, realistically speaking, there are real benefits to also retrofitting an existing building. We’re good enough at understanding what has to happen to know if it can successfully happen. A perfect building might be beyond the reach of many people who want to enter vertical indoor farming, while an existing space might mean that someone doesn’t need tens of millions of dollars to set up a successful indoor commercial farm. Repurposing buildings has an inherent appeal in that you are taking something that could be non-productive and turning it into something very productive at a cost point that makes sense for the owner and can create something beneficial in terms of actual production or job creation.

One of the very essential things we seek to do is to create a system that can produce a saleable product for our customers each and every day in a cost-effective way. The process has to be repeatable and successful. Profitability is always the challenge and without good market data and an efficient distribution methodology that includes an understanding of the market, there isn’t a way to get there. We’re not in the business of just selling equipment so that people fail. For this reason, we will be assisting the client in Nebraska with some expertise in understanding the market opportunities. We will help them look at the product mix and provide relevant data that puts them on a path to see a return on their investment.

Looking ahead, what other types of project or collaborations do you see as possibilities for AGEYE and HYVE and how do you envision your partnership evolving in the future?

AGEYE and HYVE are both really good at very distinct and yet dissimilar things that together can produce great results. One of the things we talked about even early on was how we were both so innovative and solutions-based, which we highlight in our joint tagline of ‘Matched Innovation. Unmatched Solutions.’ We believe that together we can offer solutions that others really can’t, and much of it is not only the very real and measurable tangible evidence of our quality and system intelligence but also the passion and knowledge of the people involved.

Looking forward HYVE will include the AGEYE platform as a very critical and integrated piece of the puzzle for growers. We’ll look at each individual project and see where the marriage of automated functionality and artificial intelligence makes both logistical and financial sense for the grower and our respective companies.

We also will likely look at each respective strength and ability in the stand-alone entities. For instance, it might make sense for one entity to capitalize on technical support from the other because of specific expertise that resides within a certain sector. We truly believe that at the end of the day, our common mission is about creating a system that makes the most sense for the grower in an economic and qualitative sense.

For more information, visit the AGEYE Technologies website.

Record Attendee, Exhibitor Growth Headline 10th Anniversary Edition of Indoor Ag-Con

 62% Attendance Increase For Las Vegas February 27-28, 2023 Event That Drew CEA Industry Members from 48 US States, 29 Countries

(MARCH 3, 2023) — Indoor Ag-Con marked its 10th Anniversary Edition with record increases in attendee and exhibitor participation for its February 27-28, 2023 run at Caesars Forum Las Vegas. The exhibitor booth roster doubled with a sold-out show floor featuring 134 companies in 174 booths vs 70 companies in 80 booths for 2022.  Attendance saw a 62% increase over 2022 with 1453 attendees from 48 US states, the District of Columbia and US territories, as well as 29 other countries. Attendees included C-level execs and other decision-makers involved with every sector of controlled environment agriculture — growers, investors, tech providers, start-ups, academia, government, food service retail, suppliers and more.

 

For the second year, Indoor Ag-Con once again co-located with the National Grocers Association (NGA) Show, attracting 200+ attendees from that event to the Indoor Ag-Con expo floor — taking the total attendance number over the 1600 mark.

 

“We are thrilled with the incredible growth Indoor Ag-Con continues to experience year-on-year,” says Brian Sullivan, CEO, Indoor Ag-Con. “This tremendous response from the industry — particularly our growing international attendance – positions Indoor Ag-Con as the global event for CEA  and confirms the growing importance and potential of vertical farming and controlled environment agriculture.  As we continue to evolve and adapt to the changing needs of our community, we are committed to delivering a high-quality event that provides unparalleled education, networking, and business growth opportunities for our attendees and exhibitors.  We look forward to an even brighter future for Indoor Ag-Con and the entire indoor agriculture industry”

 

Among the 10th Anniversary Edition highlights:

CEO Keynote Sessions
Attendees had the chance to hear different perspectives from key executives from both the investment and farm operation sectors.  Arama Kukutai, CEO, Plenty kicked off day one with the opening morning keynote on February 27, 2023.  During the second part of his address, he welcomed surprise guest, Mark Hagan, Chief Investment Officer, Realty Income, who joined him on stage for a fireside chat sharing more about the recently announced strategic  real estate alliance to support the development of Plenty’s indoor vertical farms. Later that day Vonnie Estes, Vice President of Technology for the International Fresh Produce Association (IFPA) moderated the keynote panel, “The Ever-Changing Business Model Of Controlled Environment Agriculture Farming,” with Steve Platt, CEO, BrightFarms; Matt Ryan, CEO, Soli Organic; and Dave Vosburg, CIO, Local Bounti. On day two, February 28, 2023,  Dave Chen, CEO, Equilibrium, took the stage to share his thoughts on  “The State of CEA and the Road Ahead.”
Indoor Ag-Con 2023 Keynotes

Educational Tracks & Expo Floor Theater Panel Discussions

The 2023 edition featured 3 educational tracks – Grower, Trends & Innovation and Funding & Guidance– that brought industry experts together covering a  wide range of topics from lighting solutions outside of standard wavelengths, to lessons learned from business failures, food security, strawberry production and workforce development and more.  In addition, the Expo Floor Theater featured a Hardball session on the state of vertical farming; and fireside chats with leaders from Unfold and GoodLeaf and a session on installation success.  In addition, the 2023 edition welcomed a  new debate format with sessions like greenhouse v. vertical farming, pre-built v. custom-built controlled environments and container v vertical farming.

Indoor Ag-Con 2023 Sessions

Sold Out Expo Floor
Doubling in size over 2023, this year’s expo floor was home to some of the biggest names in CEA as well as up-and-coming suppliers.  From lighting and grow systems to substrates and irrigation, growers were able to see the newest innovations all under one roof.

Indoor Ag-Con 2023 Expo Floor

Indoor Ag-Con |Philips VIP Welcome Party

Back by popular demand, Philips Horticulture LED Solutions teamed up once again with Indoor Ag-Con to tee-up the 2023 edition with a VIP Welcome Par-tee on Sunday evening, February 26 at Topgolf Las Vegas.  Indoor Ag-Con conference speakers and other industry VIPs came together for an incredible evening of golf, networking, cocktails, food, music and fun – all compliments of Philips LED Horticultural Lighting.

Indoor Ag-Con | Philips LED Horticultural Lighting 2023 VIP Welcome Par-Tee

Networking Opportunities
Daily lunches and an afternoon cocktail reception on the expo floor expanded the show’s networking opportunities.

Indoor Ag-Con 2023 Networking

 

Looking ahead, Indoor Ag-Con Las Vegas will return to Caesars Forum March 11-12, 2024 and will once again co-locate with The National Grocers Association Show.

 

About Indoor Ag-Con

Founded in 2013, Indoor Ag-Con has emerged as the largest trade show and conference for vertical farming | controlled environment agriculture in the United States. Its events are crop-agnostic and touch all sectors of the business, covering produce, legal cannabis | hemp, alternate protein and non-food crops. More information – www.indoor.ag

Unfold, Goodleaf Partner To Develop Premium Quality Leafy Greens

Companies will collaborate in Unfold’s Innovation Partner Program to enhance GoodLeaf’s leafy greens production, particularly spinach, utilizing Unfold’s proprietary genetics and vertical growing expertise.

DAVIS, CA, Feb. 27, 2023 – Unfold, an industry-leading seed and digital solutions company advancing the vertical farming industry, and GoodLeaf Farms, Canada’s largest commercial vertical farm, today announced their partnership to commercialize premium lines of vertically-farmed spinach and other leafy greens through Unfold’s Innovation Partner Program. Chief Executive Officers of both companies will discuss the partnership tomorrow in a fireside chat at the 10th Annual Indoor Ag-Con in Las Vegas.

Micro Broccoli from GoodLeaf’s Vertical Farm, Guelph, Ontario

“We’re very excited to collaborate with GoodLeaf to unlock the potential for improved quality and yield for their indoor growing operations,” said Unfold CEO Sonia Lo. “As a former vertical farm operator, I understand first-hand the importance of seeds that are specifically developed for indoor growing. GoodLeaf is the largest vertical grower in Canada and has already demonstrated its ability to successfully grow leafy greens in large-scale, fully commercialized vertical farms. Now, through our partnership, we will accelerate their product evolution with seed developed and optimized for their specific environment.”

GoodLeaf is currently expanding across Canada, building new facilities in Montreal and Calgary to increase upon its current production out of Guelph, Ontario. With the completion of these two farms, GoodLeaf will  produce over four million pounds of leafy greens annually, which is especially important for Canada where spinach, lettuce and other leafy greens remain amongst the country’s top imports. Both farms will be fully operational in late second quarter/early third quarter of 2023.

“Now that we have a solid foundation in place for our operations, it’s the perfect time to partner with Unfold,” said GoodLeaf President and CEO Barry Murchie. “Having the right seeds to ensure our success is crucial as we grow our operations throughout Canada and help the country lessen its dependence on imported produce. Unfold will help us make that goal possible.”

Goodleaf Unfold
LED lighting nurturing GoodLeaf’s vertically farmed spinach

GoodLeaf and Unfold’s collaboration is part of Unfold’s Innovation Partner Program, which provides vertical farm leaders unique access to Unfold’s leading plant biology expertise, digital tools and germplasm. This access is a competitive advantage to vertical farmers who often lack proficiency in seed genetics and agronomics for indoor farming, and, as a result, are left to rely on suboptimal seeds that generate reduced quality and yields. Through industry collaborations such as this, Unfold is working to address these core challenges head on.

“All of our leafy greens are grown with passion, care and precision,” Murchie continued. “Our partnership with Unfold will help us accelerate the development of even more productive, premium-quality leafy greens. Our R&D team is excited to collaborate with their counterparts at Unfold to take our efforts a leap forward and develop new varieties with enhanced yield, taste, nutritional value and sustainability.”

In fact, both organizations have sustainability as a core value. Working together they aim to develop varieties of leafy greens, most notably spinach, that require less time and energy to produce while enhancing traits valued by consumers, like crunch, colour and taste. These new varieties will boost GoodLeaf’s produce output while lowering its production costs, allowing the Company to increase the accessibility of fresh vegetables closer to consumers’ homes  as they continue to expand across Canada.

Video Announcement

Check out this video to learn more about the Unfold / GoodLeaf IPP: https://youtu.be/oRmED2mxd1I

Indoor Ag-Con Presentation

Tomorrow, February 28, 2023, Unfold Chief Operator Officer David Nothmann will be moderating a fireside chat featuring a conversation between Unfold CEO Sonia Lo and GoodLeaf CEO Barry Murchie. The fireside chat, entitled “Bringing the Knowledge Inside, Transforming Vertical Farming through Seed Genetics,” will take place from 9:15 to 10:00 am PST in the Expo Theater. For more information on the conference, please visit https://indoor.ag/conference-program/.

About Unfold

Unfold is accelerating the “seed to table” capabilities of vertical farming with an integrated offering of superior seeds, digital services, and agronomic insight. Based in Davis, California, Unfold’s mission is to create a world where the freshest, most nutritious, and most delicious produce is available to every person on the planet. For additional information about Unfold or to hear about potential career opportunities, please visit our website at unfold.ag.

Unfold’s Innovation Partner Program provides vertical farm leaders with access to Unfold’s leading plant biology expertise, digital tools and germplasm. Learn more about the program at unfold.ag/partner-program.

About GoodLeaf Farms

With a passion for delicious, nutrient-rich greens, GoodLeaf was founded in Halifax in 2011. Using innovative technology and leveraging multi-level vertical farming, GoodLeaf has created a controlled and efficient indoor farm that can grow fresh produce anywhere in the world, 365 days of the year. The system combines innovations in LED lighting with leading edge hydroponic techniques to produce sustainable, safe, pesticide-free, nutrient-dense leafy greens. GoodLeaf has ongoing collaboration programs with multiple universities in Canada, USA and Europe as well as several other partners in the commercial sector. GoodLeaf is a wholly owned subsidiary of TruLeaf Sustainable Agriculture.

Learn more at goodleaffarms.com.

 

 

 

 

 

 

Execs From IFPA, Bright Farms, Soli Organic, Local Bounti Join Indoor Ag-Con Las Vegas 2023 Keynote Line-Up

February 14, 2023Indoor Ag-Con is excited to announce the latest addition to its headliner keynote schedule for the upcoming February 27-28, 2023 edition at Caesars Forum Las Vegas. Titled “The Ever-Changing Business Model of Controlled Environment Agriculture Farming,” this keynote panel will be moderated by Vonnie Estes, Vice President of Technology, International Fresh Produce Association (IFPA), and will feature Steve Platt, CEO, BrightFarms; Matt Ryan, CEO, Soli Organic; and Dave Vosburg, CIO, Local Bounti. The keynote is scheduled for Monday, February 27, 2023 at 11 am PST.

“From greenhouse growing operations and indoor vertical farms to heavy labor and automation, it seems like the CEA industry has an identity crisis.  The business model is often in flux between being a produce provider or a technology provider,” says Brian Sullivan, CEO, Indoor Ag-Con.  “Our panel of CEA industry leaders will explore the reasons for this shift and offer predictions on where the business model is headed in the future.”

This panel joins the Indoor Ag-Con 2023 CEO headliner keynote line-up, which also includes the opening morning kick-off session with Arama Kukutai, CEO, Plenty and the day two morning keynote from Dave Chen, CEO, Equilibrium, as well as full roster of panels, debates and fireside chats.

Keynote panel participants include:

VONNIE ESTES, VICE PRESIDENT OF TECHNOLOGY, IFPA
Vonnie’s role as VP of Technology at the IFPA is to bring technology to the produce industry across the supply chain, working with both technology companies and the industry to identify and solve pressing needs. Her career has been driven by a passion for agriculture, technology and sustainability. She has held leadership positions at prominent companies including DuPont, Monsanto, and Syngenta along with start-ups including DNAP, Emergent Genetics, and Caribou Biosciences to identify revolutionary science and bring products to market. Vonnie is a sought-after voice, speaking and publishing frequently.

STEVE PLATT, CEO, BRIGHTFARMS
Steve Platt is CEO of the mission-driven indoor farming leader BrightFarms, and a veteran CPG executive with a proven record of growing brands. Under Steve’s leadership, BrightFarms was acquired by lead investor Cox Enterprises in 2021, resulting in a clear roadmap for future growth and a positive exit for initial investors. His passion for BrightFarms’ mission and products led him to the company, which grows pesticide-free leafy greens in its 6 high-tech facilities across the country.  Before joining BrightFarms, he was CEO of Icelandic Provisions, where he led the company to become the fastest-growing brand in dairy yogurt. Previously, he was an Executive at Danone, spearheading brands like Dannon, Oikos, Danimals and YoCrunch.
MATT RYAN, CEO, SOLI ORGANIC
Matthew Ryan serves as chief executive officer (CEO) at Soli Organic. As CEO, his focus is on strengthening the company’s competitive advantages and achieving scaled topline growth. Prior to his role at Soli Organic, Ryan served as the chief marketing officer and chief strategy officer at Starbucks where he developed and executed marketing and strategy plans, managed the food and beverage portfolio and led all other marketing, product, brand, and consumer functions. As the head of brand management for The Walt Disney Company, he oversaw the company’s brand management, brand development, franchise management, customer data, and CRM.

DAVE VOSBURG, CIO, LOCAL BOUNTI
Dave Vosburg is Chief Innovation Officer of Local Bounti. With two decades of international financial, business development and technology experience, Dave has spent his life career founding, growing and scaling technology businesses that create social value. Previously he was CFO and Head of Emerging Technology at Sensei Ag, a market changing AgTech venture founded by Oracle co-founder Larry Ellison. For five years prior, Mr. Vosburg served as CFO and Head of Business Development of Crop One Holdings, a vertical farming company based outside of Boston, MA. He is also Co-Founder of Conception Nurseries, a micro-propagation company based in Sacramento, CA.

2023 CONFERENCE SCHEDULE FEATURES NEW FORMATS, 70+ SPEAKERS
In addition to these headliner keynotes, the 2023 educational conference will also feature insightful panel sessions featured within three comprehensive educational tracks – grower; trends & innovation; and funding & guidance. Attendees can also look forward to new friendly debate formats and fireside chats, too.

EXPANDED EXHIBIT FLOOR
2023 will welcome the largest number of exhibitors in the event’s 10-year history. From irrigation and LED lighting to environmental control systems, substrates, greenhouse equipment, energy solutions, business services and more, attendees will have the chance to see the latest introductions and innovations from vertical farming and controlled environment agriculture leaders in 174 booths.

CO-LOCATION WITH NATIONAL GROCERS ASSOCATION SHOW
Indoor Ag-Con will once again co-locate with the National Grocers Association (NGA) Show, the leading trade show and conference for independent grocers, offering even more networking and business opportunities for attendees and exhibitors alike. The NGA Show and Indoor Ag-Con visitors will have the opportunity to explore both exhibit halls as part of the full conference pass offerings.

MORE NETWORKING
Exhibitors and attendees can enjoy complimentary luncheons on the show floor each day, a show floor cocktail reception, breakout sessions and other opportunities to reconnect with friends and meet new business partners.

QUICK FACTS:
WHEN: Monday, February 27 – Tuesday, February 28, 2023
WHERE: Caesars Forum, 3911 Koval Lane, Las Vegas, NV 89101
INFO: For information on exhibiting or attending visit www.indoor.ag or email suzanne@indoor.ag

ABOUT INDOOR AG-CON LLC
Indoor Ag-Con is the largest US trade event for vertical farming | indoor agriculture |controlled environment agriculture, the practice of growing crops in indoor systems, using hydroponic, aquaponic and aeroponic techniques. Its events are crop-agnostic and touch all sectors of the business, covering produce, legal cannabis | hemp, alternate protein and non-food crops. More information: www.indoor.ag

 

So… what do the retailers and food service distributors think about vertical farming now?

At this interesting phase where the vertical farming industry currently stands, Netled took a deep dive into the retailers’ and food service distributors’ minds to find out their perspective and future plans regarding sourcing from vertical farms. The results look promising.   

For Indoor Agriculture, 2022 ended on a down note, providing much fodder for speculation on the well being of our industry. It was unsettling to those of us dedicated to improving the modern agriculture system and provided no clear direction on where to turn. Often market indicators can be found outside the narrow scope of a single business sector. We thought it wise to tune out the chorus of opinions from indoor agtech experts and gain perspective from other members of the fresh produce supply chain.

Netled partnered with Iowa State University CyBiz Lab to perform a deep dive on market interest in vertical farming from U.S. grocery retailers and food service distributors. How did they interpret the consolidation of CEA growers / suppliers in the last several months? What are their expectations for the market in the short term and the long term? What can their insights tell us about the need for indoor agriculture in the coming years?

In January 2023, a team of four student researchers from agriculture, finance and management disciplines at Iowa State completed U.S. market research on the CEA industry for lettuces and herbs. The CyBiz Lab is lead by Program Direct Mr. Alex Andrade with research and analysis work from Mr. John Imerman, Ms. Morgan Hawkins, Mr. James Chism and Mr. Ian Johnson. The research focused on buyers interest in sourcing vertical farm grown produce and the factors of greatest influence on that interest. The research also sought to understand the dynamic between lettuce and herb buyers and growers.

Reasons not to source from vertical farm depend on the region

Survey participants included category buyers, merchandisers, business development managers, and directors of fresh produce from the top ten US food service and retail distribution companies based on annual sales volume as well as the top fifty US grocery retailers based on regional market share. 42% percent of participants identified as having operations in the Mid-Atlantic states, 27% in New England, 27% in the Mid-west or South and 4% in the West.

Majority of the respondents had sourced from vertical farm grower suppliers in 2022.
Majority of the respondents had sourced from vertical farm grower suppliers in 2022.

All participants confirmed they currently source organic lettuce and herbs, however only 57% are currently sourcing lettuces from CEA growers and 43% are currently sourcing herbs from CEA growers. 67% had sourced from vertical farm grower suppliers in the last year while 33% had not looked into this sector at all.

As for reasons why this group had not sourced from vertical farms already, the answer seemed to depend on the region. For those in the southern most states, there was lack of demand for high quality product during the winter months and a disbelief that vertical farms could operate successfully in areas of high heat or humidity. To the north, it seemed that the growers were unable to meet the consistent supply of high quality product required. Others said that they were satisfied with seasonal products from local suppliers and did not yet have demand for local product in the colder months. There was also a group of respondents who were still researching options and had not determine which vertical farm company to partner with yet.

Nearly 70% of the group who had not sourced from vertical farms yet, said it was likely or somewhat likely that they would do it in the future.   
Nearly 70% of the group who had not sourced from vertical farms yet, said it was likely or somewhat likely that they would do it in the future.

It is also interesting to note that of the group who has not sourced from vertical farms yet, only 17% said it was somewhat unlikely that they would ever source from a vertical farm grower. Of those who are currently sourcing from vertical farms, 33% responded that they are extremely likely to expand sourcing from this sector in the future while the remaining 67% said they were somewhat likely. No respondents replied that they were undecided or not likely.

Of those who are currently sourcing from vertical farms, everyone was either somewhat or extremely likely to keep doing it in the future. 
Of those who are currently sourcing from vertical farms, everyone was either somewhat or extremely likely to keep doing it in the future. 

When asked the reasons why these buyers had sourced from vertical farms in the first place, most respondents listed concerns about supply from California, Arizona and Mexico as well as higher costs that they must pass along to their customers.
Consistency and reliability of supply are the key 

Although there are concerns about the consistency and reliability of lettuce and herb supply from vertical farms, there is equal or greater concern about conventional supply for the same reasons. There may not be direct demand from end consumers for vertical farm grown produce yet, but there is hesitation on the part of the retailer and distributor in not offering these alternatives to their customers. It is reasonable to infer that there will be forgiveness in the supply chain as the vertical farm industry improves upon growing techniques and financial planning to ensure the success of their businesses. As one retailer noted, “it is now the responsibility of the grower and the retailers to successfully market vertical farm grown produce and educate the consumer on the benefits”.

At Netled, we interpret that as a sign of great things to come for our industry. We recognize the importance of building strong partnerships with our business customers and focusing efforts on promoting our industry and educating our end consumer. We are also confident in both our proprietary Vera® vertical farm technology and our farm management abilities. The data points we are monitoring at our two commercial scale farms in the Nordics as well as our demo farm in Canada continue to outperform expectations. This is on levels of energy consumption as well as quality of the product. We look forward to discussing our research findings and sharing information on our commercial scale Vera® vertical farm systems at Indoor Ag-Con and The NGA Show later this month. You’ll find Netled at the booth #517 and CEO Niko Kivioja speaking at the panel ‘Hardball: The State of the Vertical Farming Industry’ on Monday at 2:00pm.   

Read more: https://netled.fi/

Kasey Snyder is Sales Operations Manager at Netled, supporting new business development globally. As a native of New Jersey, she has lived in Finland for the last seven years and enjoys exploring international opportunities to expand vertical farming.