Scotland's first vertical farm gets £5.4m funding boost

quarta-feira, junho 19, 2019

Using different colours of light, IGS managed to cut the growing time of trial herbs by half
Credit: IGS
The start-up behind Scotland’s first vertical farm he start-up behind Scotland’s first vertical farm has received £5.4m in funding from US investors to further develop its technology.

Vertical farming is an emerging industry in which crops are grown in layers in a controlled environment to save space and reduce waste. Ultimately, they could help crowded cities produce their own food. 

Dundee-based Intelligent Growth Solutions (IGS) has created a vertical farming system that it claims can successfully grow plants using half the energy of its competitors.

Last year, the company opened its demonstration facility in Invergowrie featuring LED lights and app-controlled air vents to create the ideal conditions for crops to grow.

Using different colours of light, IGS managed to cut the growing time of trial herbs by half.

The latest funding has been received from Chicago-based agri-tech food investor S2G, online venture capital firm AgFunder, and the Scottish Investment Bank.

IGS said it would allow it to create jobs in areas such as software development, engineering, robotics and automation.

“Indoor agriculture production is at a tipping point,” said  Sanjeev Krishnan, managing director of S2G Ventures.

“Grocery and food service firms have never been more interested in adopting this in their future supply chain.”

The global market growth in the industry predicted at 24pc per year over the next three years.

Earlier this month, Ocado revealed it had invested £17m into the emerging "vertical farming" industry.

"[The vertical farm] has the potential to be located near the consumer, it doesn't need a field, it can be put in a building," said Duncan Tatton Brown, chief financial officer at Ocado.

"We don't know how or when it is going to play out. It's an exciting time.”

Page: Telegraph

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