Money Buzz! Europa

Tag: urban vertical farming

  • The largest vertical farm in Europe will be built in Copenhagen

    The largest vertical farm in Europe will be built in Copenhagen

    Several developers have decided to transform an industrial building on the outskirts of Copenhagen into the largest vertical farm in Europe.

    Here, lettuce, herbs and kale will grow on 14-storey scaffolding, from floor to ceiling, Reuters reports.

    The vertical farm in Copenhagen, installed in a former industrial hall with an area of ​​7,000 square meters, will first focus on the cultivation of herbs, kale and lettuce, but the developers claim that in two years they will be able to grow fruits in five to ten years and rooted.

    Developed by Nordic Harvest and YesHealth Group (Taiwan), the vertical farm aims to reach an annual production of 1,000 tons by 2021 and be profitable.

    This type of farm is designed to use less space than traditional vegetable growing and will use an LED lighting system that will mimic sunlight.

    According to World Bank, in 2016 about 37% of the globe’s land area was used for agriculture.

  • Infarm raises $170M to grow largest urban vertical farming network in the world

    Infarm raises $170M to grow largest urban vertical farming network in the world

    Infarm announced $170 million investment raised in the first close of a Series C funding round expected to reach $200 million.

    Led by LGT Lightstone, the first round included participation by investors Hanaco, Bonnier, Haniel, and Latitude, and was supported by existing Infarm investors Atomico, TriplePoint Capital, Mons Capital and Astanor Ventures.

    With a mix of equity and debt financing, the capital infusion brings Infarm’s total funding to date to more than $300 million.

    By 2025, Infarm’s farming network is expected to reach more than 5.000.000 square feet to become the largest distributed farming network in the world.

    With operations across 10 countries and 30 cities worldwide, Infarm harvests 500,000+ plants monthly and growing while using 99.5% less space than soil-based agriculture, 95% less water, 90% less transport and zero chemical pesticides.