AeroFarms Set to go Public with Valuation of $1.2Bn
AeroFarms, Inc. is set to go public at a valuation of $1.2 billion following a merger with Spring Valley, a special purpose acquisition company.
AeroFarms intends to transform agriculture with vertical farming. Using their innovative aeroponic technology, they can cultivate healthy plants with reduced environmental impacts. They grow pesticide free produce and have eliminated seasonal produce limitations all while reducing the water input required.
Revolutionary agricultural methods have come into the spotlight following the scare in food security created by COVID-19. The fragility of the agriculture supply chain was high-lighted as shelves went bare and farmers struggled. AeroFarms believes their technology could help to re-stabilize and de-risk the food supply chain, offering local food production at the required scale. They plan to continue developing their proprietary technology as well as plants and seeds specifically for use in vertical farms through future R&D work.
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