The company will install CubicFarms systems in Indiana in the first half of next year
Vertical Acres Farm has reached a commercial agreement with Canadian agtech company CubicFarm Systems to acquire indoor growing systems.
The Indiana-based produce company has selected CubicFarm’s automated, controlled-environment growing technology to grow commercial quantities of fresh produce for the region.
Under the terms of the deal, the company will acquire 21 CubicFarms machines, including 17 cultivators, three propagators, and one fertigator, for a complete CubicFarm installation.
CubicFarms said that the order includes a deposit received from Vertical Acres and it represents nearly C$3.8m ($2.9m) in expected revenue to the company.
CubicFarms technology allows Vertical Acres to grow foods all year round
With CubicFarms deal, Vertical Acres will gain a technology that is expected to enable it to grow foods, with predictable crop yields indoors, all year round.
Vertical Acres owner Fred Schakel said: “We evaluated a large number of indoor growing systems and chose CubicFarms as the optimal commercial-scale fresh produce system solution. We love the idea of the perfect growing environment, the fraction of water it takes to grow our greens, and the freedom from contaminants that the Cubic system affords.
“We are excited that we will be able to supply our local community with fresh, perfect greens every day of the year without the influence of bad weather always weighing on our production model. With CubicFarms’ excellent technology, we are truly looking forward to this partnership.”
Furthermore, CubicFarms’ technology is expected to be installed in Indiana in the first half of next year.
In August this year, Ospraie Ag Science, an investor in agricultural technology, has acquired 7,500,000 common shares in CubicFarm and increased its stake from 19% to 25%.