With the world’s population continuing to grow, vertical farming has emerged as an innovative solution to meet increasing food demands in a sustainable way. By growing crops indoors in stacked layers, vertical farming allows food production to happen year-round near urban centers, reducing transport costs and emissions. As interest in vertical farming rises, many companies are entering the market. Here we look at 3 promising vertical farming companies that are worth investing in 2023.
AeroFarms – A Vertical Farming Pioneer with Scaled Operations
As a leading vertical farming company, AeroFarms is a pioneer in the industry with over 10 years of experience perfecting their patented aeroponic growing system. The New Jersey-based company operates one of the world’s largest vertical farms, with annual production capacity of over 2 million pounds of leafy greens. AeroFarms is scaling up quickly, with plans to build over 150 vertical farms globally. They have raised significant funding, including a recent $100 million Series E round in 2021. For investors looking to bet on an established vertical farming brand, AeroFarms is a compelling choice.
Bowery Farming – Leveraging AI and Robotics for Efficiency
New York’s Bowery Farming takes a high-tech approach to vertical farming, using AI, automation and IoT sensors to precisely control growing conditions and maximize efficiency. Named to the 2021 CB Insights AI 100 list, Bowery’s proprietary FarmOS platform analyzes plant health to optimize yields and quality while reducing costs. With autonomous mobile robot carts to plant, feed and harvest crops, Bowery aims to make vertical farming scalable and cost-competitive with traditional agriculture. With multiple commercial-scale facilities near major East Coast cities and strong growth, Bowery Farming is an appealing option for investors bullish on ag tech.
Infarm – Bringing Vertical Farming to Grocery Shelves
While many vertical farming companies focus on centralized mega-farms, Berlin-based Infarm places modular farms right in grocery stores and distribution centers. Infarm’s spherical Growing Centers allow fresh herbs, greens and vegetables to be grown on-site and sold direct-to-consumer, maximizing freshness. With contracts to install its modular farms in retailers across Europe and the U.S., including Kroger, Whole Foods and Marks & Spencer, Infarm is bringing vertical farming direct to consumers in an innovative way. For investors excited by the potential of in-store vertical farming, Infarm presents a strong opportunity.
Plenty – Leveraging Vertical Farming for Global Impact
With backing from high-profile investors including Jeff Bezos and Softbank Vision Fund, California’s Plenty takes a big-picture view of transforming the global food system through vertical farming. Plenty’s flagship South San Francisco farm features a patented process using less land and far fewer pesticides than traditional agriculture. Aiming to build large indoor vertical farms near every major world city, Plenty has bold ambitions to expand the world’s vegetable production capacity up to 500 times in the coming decades. For investors seeking a vertically farmed vision at global scale, Plenty is an exciting venture.
In summary, vertical farming represents an innovative approach to sustainably meeting global food demand, and there are many promising companies to invest in during this growth stage of the industry. AeroFarms, Bowery Farming, Infarm and Plenty have each carved out unique niches and offer appealing options for investors looking to add vertical farming exposure.