Walmart just invested in vertical farming start-up Plenty. Plenty is a company that specializes in vertical farming. Walmart official Charles Redfield stated in a statement that the partnership will enable the firm to provide "highest-quality foods at the greatest pricing." The headquarters of Plenty is in San Francisco, California. Walmart is a global company headquartered in Bentonville, Arkansas.
Vertical Farming and its proud farmers
Vertical farmers are proud of their methods. Vertical farming, they claim, produces more food while using less water and land. Chemical pest control is also not used in this method. It also allows vegetables to be produced year-round near transportation hubs, increasing supply reliability.
Walmart did not comment on the extent of its investment or the financial parameters of the deal. When the deal is done, a Walmart representative will join Plenty's board of directors, the company said.
A Startup rapidly expanding field of indoor farming
Plenty is one of the numerous firms operating in the rapidly expanding field of indoor farming. AppHarvest in Morehead, Kentucky, and Gotham Greens in New York City are two other vertical farming companies. Agritecture is a business consulting firm. It was reported recently that in 2020, at least 74 indoor farming companies would be established throughout the world.
Plenty was established in the year 2014. In South San Francisco, it has a vertical farm. In Laramie, Wyoming, it also operates an indoor science research facility. Plenty is currently constructing a center in Compton, California. The project will be the world's most productive vertical indoor farm, according to the firm. It'll open in the second part of this year, as per estimates.
Plenty's vertical farming towers are meant to produce many crops on one floor in a building the size of a large store. Vertical plant towers, customized lighting, and robots are among the technologies used to plant, feed, and harvest crops. Plenty claims that its farms require only 1% of the land needed for an outdoor farm. The farm may generate anything from 150 to 350 times more food per hectare at the same time.
Plenty's Compton farm will send leafy greens, such as lettuce, to Walmart's California store locations beginning later this year, according to the deal. Vertical farms will complement rather than replace traditional farming practices. It also stated that vertical farms will increase food supply in an environmentally friendly and resource-efficient manner.
