Future Crops
Claim This Profile
Is this your business?
Claim your company profile on iGrow News to showcase your business, share updates, and connect with the global AgTech community. Enjoy features like customizable profiles, press release submissions, event promotions, and job postings, with premium plans offering enhanced visibility. Take control of your presence and reach key industry decision-makers today!
Claim Now!Company Profile
Future Crops Overview
Future Crops was an Israeli-Dutch vertical farming company based in Poeldijk, Netherlands, within the ABC Westland industrial park. Founded in 2016, the company focused on indoor, soil-based cultivation of herbs and leafy greens. On January 24, 2024, Future Crops Cooperative U.A. was officially declared bankrupt.
Operations and Production
The facility in Poeldijk featured 2,500 square meters of growing area spread across nine vertical layers. The company produced approximately 85 tons of crops annually, including basil, cilantro, parsley, dill, and baby lettuce. Unlike many vertical farms, Future Crops used soil-based growing methods.
The site also housed an in-house test laboratory and had the potential to expand up to 8,000 square meters of cultivation space.
Retail Distribution
The company supplied products to retailers, including supermarket chain Albert Heijn, where several varieties of herbs were sold under white-label branding.
Investment and Development
The company was established with support from the Israeli Agricultural Research Organization (ARO) and A&F Ventures, an investment firm led by the Lerman family. In its initial funding round, Future Crops raised $30 million. A second investment round was announced in early 2022, led by Tencent.
In addition to its own farming operations, the company was working on an “Agro as a Service” model, aiming to share its cultivation systems and technical expertise with partners. Memorandums of understanding (MOUs) had reportedly been signed to support international expansion.
Future Crops Bankruptcy Details
In late 2022, Future Crops scaled back a significant portion of its production, citing rising energy costs. On January 24, 2024, bankruptcy was filed under reference number 09.dha.23.23.F.1300.1.23. Mr. J.J. Wittekamp, based in The Hague, was appointed as the trustee.
Gallery Pictures
