Vertical Farming

5 Vertical Farming Companies in 2024: Key Developments

Vertical Farming Companies focused on expanding global operations and diversifying crops, with a shift towards high-value produce.

A Year of Growth, Innovation, and Strategic Shifts

The vertical farming sector in 2024 saw significant consolidation, technological advancements, and global expansion. Key players like Plenty Unlimited, Bowery Farming, and Oishii focused on scaling operations, diversifying product offerings, and integrating cutting-edge technology to boost efficiency and output. Despite challenges related to operational costs and market competition, the industry continued to grow, driven by increasing demand for sustainable and locally grown produce.

Disclaimer: This article does not rank or compare vertical farming companies in terms of performance. It is intended to showcase notable developments from 2024. The inclusion of specific companies does not imply superiority over others. For all the articles regarding Vertical Farming Companies, please visit the following page.


Key Takeaways

  • Vertical Farming Companies have focused on expanding global operations and diversifying crops, with a shift towards high-value produce like strawberries.
  • Strategic partnerships and investments have driven innovation, particularly in AI and renewable energy integration.
  • Carbon-negative and sustainable farming models are gaining traction to address climate and energy concerns.
  • Financial challenges persist for some vertical farming companies, prompting restructuring and operational pivots.
  • Government and industry support continue to play a role in scaling vertical farming technology globally.

1. Plenty Unlimited: Strategic Shift to Strawberries and Global Expansion

Strawberry Focus and Compton Closure

Plenty Unlimited (Profile) made headlines with its pivot to exclusively grow strawberries, planting the first commercial batch at its Richmond, Virginia farm. This strategic shift leverages modular growing systems to meet the rising demand for year-round, high-quality strawberries. As part of the transition, Plenty closed its leafy greens facility in Compton, California, citing rising operational costs.

World’s First Indoor Berry Farm

The Richmond facility, a $300 million project, is the world’s first vertically farmed berry facility capable of producing 4 million pounds of strawberries annually. In partnership with Driscoll’s, Plenty integrates AI to monitor plant health and optimize yield.

Wyoming R&D Expansion

Plenty also announced the construction of the largest vertical farming R&D center in Laramie, Wyoming, set to open in 2026. The facility will focus on advancing AI, genetics, and environmental systems for crop development beyond leafy greens.

Global Expansion with Mawarid Holding

Internationally, Plenty partnered with Mawarid Holding to build vertical farms in the GCC, starting with a $130 million farm in Abu Dhabi. The farm, producing 2 million kg of strawberries annually by 2026, marks the first of five planned facilities, backed by a $680 million investment.


2. Empire State Greenhouses (ESG) and IGS: Building Carbon-Negative Farms

New York GigaFarm Project

Empire State Greenhouses (ESG) and Intelligent Growth Solutions (Profile) broke ground on a 385,000 sq. ft. GigaFarm in Cobleskill, New York. Featuring 100 IGS Growth Towers, the facility integrates solar PV, energy storage, and a gasifier to achieve carbon-negative production. The farm will yield 8 million pounds of produce annually and cultivate over 50 crop varieties.

Leadership Insights

ESG President Louis Ferro highlighted the project’s contribution to addressing climate challenges through renewable energy, while IGS CEO Andrew Lloyd emphasized the farm’s role in shaping resilient U.S. food systems.

Global Expansion and UAE GigaFarm

IGS raised £22.5 million in Series C funding to scale its technology globally, including the Dubai GigaFarm, a 900,000 sq. ft. facility set to produce 3 million kg of food annually by 2025. Supported by the UAE government, the farm aligns with national food security goals.


3. Bowery Farming: Growth, Innovation, and Operational Challenges

Pioneering Vertical Farming

Bowery Farming expanded its retail partnerships, supplying produce to over 2,600 stores, including Whole Foods and Amazon Fresh. Bowery’s proprietary platform, BoweryOS, uses AI to optimize growth environments and enhance crop yields.

Product Diversification

In response to consumer demand, Bowery introduced ready-to-eat salad kits and expanded into delicate crops like strawberries through AI-driven robotic harvesting.

Operational Hurdles

Despite growth, Bowery faced financial strain from high energy costs and operational complexities, resulting in layoffs and restructuring which ultimately led to the company stopping its operations.


4. Oishii: Premium Produce and Global Expansion

Series B Funding and Expansion

Oishii (Profile) secured $150 million in Series B funding to expand its luxury Omakase Berry® production. The Tokyo facility, the company’s first international site, aims to meet growing local demand for high-end, pesticide-free strawberries.

Strategic Automation
Oishii collaborates with NTT and Yaskawa Electric to integrate automation, targeting fully automated vertical farming by 2030.


5. Soli Organic: Sustainable Growth and Logistics Innovation

Electric Truck Deployment

Soli Organic (Profile) piloted its first electric truck to reduce emissions and improve logistics for its Virginia operations. The initiative aligns with Soli’s commitment to sustainability.

Farm Expansion

A new 140,000 sq. ft. facility in San Antonio expanded Soli Organic’s production, reinforcing its leadership in organic indoor farming and creating over 100 jobs.


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As a dedicated journalist and entrepreneur, I helm iGrow News, a pioneering media platform focused on the evolving landscape of Agriculture Technology. With a deep-seated passion for uncovering the latest developments and trends within the agtech sector, my mission is to deliver insightful, unbiased news and analysis. Through iGrow News, I aim to empower industry professionals, enthusiasts, and the broader public with knowledge and understanding of technological advancements that shape modern agriculture. You can follow me on LinkedIn & Twitter.

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