Texas Vertical Farms Ventures Inc. (TVFV) has recently secured a Territory License to exclusively use and distribute Agriplay Ventures Inc. (Agriplay) Technologies within Texas. With several initiatives already in the pipeline, this partnership is anticipated to improve food security in the state significantly.
Maria Tochilina, President of TVFV, expressed enthusiasm about this venture, “Bringing Agriplay’s technology to Texas opens up enormous opportunities. Merging a food security leader with a sluggish commercial real estate market presents a triple-win opportunity. The timing couldn’t be better.”
The Territory Licensing Agreement grants TVFV exclusive rights to utilize Agriplay’s technologies in Texas for ten years. The target area has an estimated population of 29.2 million as of 2022 and is valued at approximately $3.2 million.
Agriplay’s territory definition includes any legally recognized jurisdiction within a country, encompassing municipalities, counties, provinces, states, or the entire country. As part of the agreement, Agriplay will supply all necessary materials and equipment for integrating an urban indoor farm into Texas’s commercial assets and system support. In addition, TVFV gains total control over operations within the territory, utilizing Agriplay’s proprietary technology and establishing inter-territory partnerships for its benefit.
The President of Agriplay commended TVFV, stating, “TVFV is a formidable team dedicated to food security initiatives in Texas and beyond. They are already embarking on up-and-coming projects in the heart of Texas. It’s fantastic to work with a team that aligns so well with our company’s mission.”
Agriplay’s cutting-edge growing system enables operators and territory licensees to grow over 150 varieties of fresh fruits, vegetables, and flowers on a considerably smaller footprint than traditional indoor farming. In addition, these systems can cultivate almost any fresh fruit and vegetable variety, consume up to ten times less energy, and are up to forty times more scalable than conventional vertical farms.
The company is collaborating with Territory Licensees to transform over 9 million square feet of commercial real estate into productive indoor farms globally.
Agriplay’s President and Founder spoke on the adaptability of their technology, “There’s a significant need for repurposing commercial real estate beyond residential conversions. Our system is the only scalable solution currently available for the adaptive reuse of nearly any commercial asset class. Integrating our system into a commercial asset is adaptively transformed into a profitable urban indoor farm without long-term structural changes. Given the surplus of vacant office towers and the need for onshore food production in nearly every market, this is a multifaceted solution. Licensing enables us to scale to meet the demand operationally, allowing this concept to materialize faster, thus reducing the food scarcity gap.”
Photo by Petr Magera on Unsplash
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