The Van Trump Report

Walmart First Large US Retailer to ‘Significantly Invest’ in Vertical Farming

The nation’s largest retailer announced yesterday that it is investing in indoor vertical farming company “Plenty”, a San Francisco-based startup, uses indoor warehouse facilities in California to house rows of hydroponic towers to grow leafy greens like lettuce, kale, and arugula. The operation incorporates engineering, software and “sustainable crop science” to grow several crops on one platform at “unprecedented speed,” according to Walmart.

​​​​​​​The company says it can condense hundreds of acres of farmland into the size of a big box retail store and deliver up to 350 times more food per acre. The crops are also grown without pesticides and aren’t affected by unpredictable weather.  

From what I understand, Walmart stepped in as part of a $400 million Series E funding round or the startup. Walmart did not disclose the size of its own investment or the financial terms of the deal, but said a Walmart executive will join Plenty’s Board of Directors as part of the partnership.  

“We are focused on identifying and investing in innovative food solutions to bring our customers the freshest, highest-quality foods at the best prices,” Charles Redfield, chief merchandising officer at Walmart, said in a statement. Walmart plans to carry Plenty’s leafy greens in its California locations later this year.

We’ve all seen it coming… now here it is on the “food” side of farming. You can visit the Plenty website to learn more HERE

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