Plenty Investing $300M, Building World’s Largest, Most-Advanced Indoor Vertical Farm Campus

September 16, 2022

By Lynda Kiernan-Stone, Global AgInvesting Media

Leading vertical farming pioneer Plenty announced it has secured 120 acres of land near Richmond, Virginia, where it will  invest $300 million over the next six years to build the largest, most advanced indoor vertical farming campus in the world. 

Moving for the first time beyond the U.S. West Coast, Plenty plans to deploy several large-scale vertical farms on the campus over the coming years, with a potential annual production capacity across multiple crops including strawberries, leafy greens, and tomatoes exceeding 20 million pounds.

This first farm at the campus will grow Driscoll’s strawberries – the first facility of its kind to grow indoor, vertically farmed berries at scale.

“This farm will combine Driscoll’s patented berry varieties with Plenty’s patented indoor vertical farming technology,” said J. Miles Reiter, chairman and CEO, Driscoll’s. “We are excited to take the next step in the journey to understand what it takes to bring fresh, flavorful berries locally grown all year-round.”

A joint development agreement between the two companies to grow Driscoll’s berries on a year-round basis in Plenty’s vertical indoor farms was initially announced in October 2020.

The companies came together with a common vested interest in bringing superior berries to market year-round. Under the terms of the agreement, Plenty will synergize Driscoll’s proprietary genetics and expertise with its own advanced indoor farming technology and plant science knowledge to consistently deliver berries of optimum flavor, texture, and size.

Using data analytics, machine learning, and customized lighting, Plenty is able to deliver at an unprecedented rate – leveraging more than 200 years worth of growing data generated by its platform each year. Over the past 24 months, Plenty’s advanced agri-food platform has resulted in more than a 700 percent improvement in leafy green yields grown using 100 percent renewable wind and solar energy.

For consumers, vertical farming presents an option that allows them to feel better about their choices by producing clean, high-quality fresh food using a fraction of the land and natural resources needed in the field. But perhaps just as attractive to consumers is the great taste of produce grown indoors compared to field-grown varieties that are bred for resilience against long supply chains.

“It’s clear that Plenty’s vision and capabilities of pioneering the potential of indoor farming technology makes them the leader in this space,” said J. Miles Reiter, chairman and CEO at Driscoll’s at the time. “As one of the few berry companies with a dedicated global R&D program, we believe our proprietary berries, which are focused on flavor, combined with Plenty’s technology leadership will create a competitive market edge as we expand to more effectively meet the future consumer.”

Over time, the campus will expand to include additional farms growing other produce, such as Plenty’s pesticide-free leafy greens, using the company’s patented platform that uses advanced technology to optimize each individual plant to produce yields up to 350 times more per acre using a fraction of the water required by conventional farms.

“Plenty’s decision to establish its first major east coast vertical farming campus in Virginia shines a spotlight on the advantages that make the Commonwealth the best location in the nation for companies growing our food safely and sustainably indoors,” said Virginia Governor Glenn Youngkin.

“This transformational project further bolsters Virginia’s agriculture and technology industries and positions the Commonwealth as a leader in this next generation of agriculture. I am pleased to welcome Plenty to Virginia and look forward to the company’s growth and success in Chesterfield County.”

 

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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