Springworks Farm Raises $22M to Expand Aquaponics Venture
Springworks Farm has raised $22 million to expand its aquaponic greenhouse system that combines fish and plant farming in Maine.
The company uses aquaponics to grow their crops. This cross between hydroponics and aquaculture uses buoyant rafts, letting roots dangle in water to gather nutrients. The water has a healthy fish population which produce nutrients and waste – two things that help the plants grow. The plants, in turn, filter the water, making it safe for the fish to thrive in.
The latest funding round will support the development of their fourth aquaponic greenhouse. This new center will add 120,000 sq ft of greenhouse space in the next six years.
The expansion will allow Springworks, which already supplies more than 300 stores, to meet increasing demand for local, safe and sustainable food. By investing regionally, Springworks cuts thousands of food transportation miles for customers such as Hannaford, Whole Foods Market and Roche Bros. Supermarkets to increase access to high-quality, local food year-round.
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