Climate change might make growing produce indoors a necessity. But despite taking in more than a billion dollars in venture capital investment, most companies in the industry seem to be withering, unable to turn a profit on lettuce. …
The entire Elevate New Jersey facility measures 14,000 square feet (1,300 square meters) which includes 4,750 square feet (441 square meters) of unmanned, fully autonomous, grow room space along with processing, packaging and administration. The farm has a capacity to produce up to 11,000,000 plants, or equal to 500,000 pounds (227,000 kilograms) of plants, annually. …
Under the terms of the agreement, Realty Income will acquire and provide development funding for properties that will house Plenty’s indoor farms. These properties will be leased to Plenty under long-term net leases. The agreement provides for up to $1 billion of development opportunities. …
If we did find a way to overcome the problems of cost and energy use, what would a world where all our food is grown in such farms look like? …
The company announced it is expanding that work, scaling its R&D capabilities by building the world’s largest and most advanced vertical farming research center in Laramie, Wyoming. The project is supported by a $20 million grant from the State of Wyoming through the Wyoming Business Council to the City of Laramie to help with construction and infrastructure costs. Additional funding, land and support for the project is being provided by the City of Laramie and the Laramie Chamber Business Alliance. …
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