Post by account_disabled on Feb 25, 2024 2:07:40 GMT -5
Ontario, Canada-based vertical farming company GoodLeaf Farms has raised $ million in equity capital.
Canadian frozen food giant McCain Foods led the round, along with agri-food private equity investor Power Sustainable Lios .
GoodLeaf will use the new funding to expand across Canada, with plans for new farms in Calgary and Montreal.
Why it matters:
While Canada has a significant amount of indoor greenhouse production , lettuce remains one of the country's top imports from the US.
“Traditional sourcing of leafy greens into Canada from California and Arizona is a problem now and will continue to be a problem,” GoodLeaf Farms CEO Barry Murchie said in a statement.
He added that long transportation routes increase the risk of food spoilage and waste, not to mention supply chain emissions and the current megadrought in the US.
GoodLeaf, a wholly owne C Level Executive List d subsidiary of TruLeaf , hopes to change this by placing its automated vertical farms in more sites than Canada. The company notes that with the completion of the Calgary and Montreal farms, it will be able to supply Canadian consumers from coast to coast.
GoodLeaf currently operates a , square foot fully automated farm in Guelph, Ontario.
The Calgary and Montreal farms will be “highly automated” and will add , square feet to GoodLeaf's production capacity. The company says this will result in about million pounds of leafy greens annually.
Both farms will grow leafy greens starting in late Q and early Q
Founded in , GoodLeaf is an old flagship in the vertical farming space with an evolving approach and business model. McCain's involvement in the company dates back to , when CPG initially invested .
“McCain is, at its core, an innovative agricultural company and sustainability leader, which makes GoodLeaf a perfect fit for our values,” Peter Dawe , chief strategy and growth officer at McCain Foods, said in a statement.
Canadian frozen food giant McCain Foods led the round, along with agri-food private equity investor Power Sustainable Lios .
GoodLeaf will use the new funding to expand across Canada, with plans for new farms in Calgary and Montreal.
Why it matters:
While Canada has a significant amount of indoor greenhouse production , lettuce remains one of the country's top imports from the US.
“Traditional sourcing of leafy greens into Canada from California and Arizona is a problem now and will continue to be a problem,” GoodLeaf Farms CEO Barry Murchie said in a statement.
He added that long transportation routes increase the risk of food spoilage and waste, not to mention supply chain emissions and the current megadrought in the US.
GoodLeaf, a wholly owne C Level Executive List d subsidiary of TruLeaf , hopes to change this by placing its automated vertical farms in more sites than Canada. The company notes that with the completion of the Calgary and Montreal farms, it will be able to supply Canadian consumers from coast to coast.
GoodLeaf currently operates a , square foot fully automated farm in Guelph, Ontario.
The Calgary and Montreal farms will be “highly automated” and will add , square feet to GoodLeaf's production capacity. The company says this will result in about million pounds of leafy greens annually.
Both farms will grow leafy greens starting in late Q and early Q
Founded in , GoodLeaf is an old flagship in the vertical farming space with an evolving approach and business model. McCain's involvement in the company dates back to , when CPG initially invested .
“McCain is, at its core, an innovative agricultural company and sustainability leader, which makes GoodLeaf a perfect fit for our values,” Peter Dawe , chief strategy and growth officer at McCain Foods, said in a statement.