Key Highlights
- Significant CAPEX Reduction: iFarm announces a 28% decrease in the capital expenditure required to start vertical farms using its Leafy Greens technology.
- Strategic Partnerships: Collaborations in Indonesia, Saudi Arabia, and the UAE cut shipping costs and transportation volumes by half.
- Cost-Effective Sourcing: High-quality, lower-cost vertical farming components sourced from China.
- Enhanced Growing Technique: Adoption of the Deep Flow Technique (DFT) for optimal growth of leafy greens.
- Affordable Investment Level: Capital investment needed per square meter for setting up a farm reduced to $800.
Reducing Barriers for Urban Farmers
iFarm, a leading innovator in the vertical farming industry, has made significant strides in reducing the financial barriers associated with establishing vertical farms, particularly in the MENA (Middle East and North Africa) and Asia-Pacific regions. By achieving a substantial 28% decline in capital expenditure (CAPEX) for urban farmers, iFarm is opening new doors for sustainable urban agriculture.
Lowering Initial Costs for Greater Accessibility
The high initial costs, encompassing equipment, automation, design, and setup expenses, have traditionally deterred prospective urban farmers from investing in vertical farming technologies. However, iFarm’s latest achievement in reducing CAPEX means that the financial burden of starting a vertical farm has significantly decreased, promising a shorter payback period and making it a more viable option for many.
Strategic Moves to Cut Costs
iFarm’s approach to CAPEX reduction includes forging agreements with machinery and equipment manufacturers in Indonesia, Saudi Arabia, and the UAE, leading to a 50% reduction in both transportation volumes and shipping costs. Additionally, the company has managed to source high-quality yet more affordable components for vertical farming technologies from China, including essential items such as trays and racks.
Investment Breakdown for New Farmers
For a new vertical farm with a 1,000 m² growing area in one of the MENA countries, the capital investment required now stands at an average of $800 per square meter of growing area. This significant reduction in investment requirements is poised to revolutionize the entry threshold for new players in the vertical farming sector.
Leveraging Advanced Techniques for Efficiency
At the heart of iFarm’s vertical farming solution is the Deep Flow Technique (DFT), a method that enhances the growth of leafy greens and herbs throughout the year, irrespective of external climate conditions. iFarm’s research indicates that this method is not only conducive to producing high-quality produce year-round but also plays a crucial role in ensuring the economic viability of vertical farms.
A Sustainable Future in Agriculture
This development marks a significant milestone in making vertical farming more accessible and economically feasible across the MENA and Asia-Pacific regions. By lowering CAPEX, iFarm not only supports the growth of urban farming initiatives but also contributes to a more sustainable and resilient food production system. As urban populations continue to rise, innovations like those from iFarm are essential in meeting the increasing demand for fresh, locally grown produce, fostering a healthier planet and population.
iFarm Latest News
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iFarm is the winner of the Future 100 Award in the UAE (2023/12/12)
iFarm has been selected as an emerging Agritech company on the Future 100 Companies for 2023 list. The Future 100 initiative, led by the UAE Ministry of Economy, focuses on accelerating the growth of startups and scaleups operating in innovative industries and developing high-tech in the UAE. Shortlisted candidates were assessed based on rigorous criteria, including business viability, market potential, sustainability, and more. The winning companies operate in sectors such as Agritech, Renewable energy, Space, Robotics, FinTech, Web 3.0, and Biotechnology. The full list is published on Entrepreneur Middle East.
Develops Technology for Indoor Radish Cultivation (2023/09/26)
iFarm has developed technologies for indoor radish farming after three years of research. They have formulated optimal techniques to ensure prolific radish yields with a low defect rate throughout the year. Radishes are primarily cultivated on mineral wool or peat substrates within vertical farms powered by iFarm technologies. On average, iFarm’s indoor vertical farms yield an impressive 5.56 kg of radishes per square meter monthly.
Opens Their Latest Facility With Green Farm In Dubai (2023/05/12)
iFarm recently celebrated the grand opening of its first vertical farm in the UAE, utilizing iFarm technologies. This pioneering event in Dubai drew notable attendees from the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), Agritecture, Red Sea Farms, Google, and various stakeholders from the public and private sectors, all keen on advancing high-tech farming in the region. Nikita Zubko, managing director of Green Farm, highlighted the significance of the event as a platform for iFarm to establish its presence as a key agricultural player in the UAE. Green Farm, showcasing the novel iFarm Multigreens technology, offers tours for those interested in exploring the innovative approach to growing multiple plant varieties simultaneously. This technology enables flexible production tailored to market demands and seasons. The farm’s strategic focus targets premium retail and hospitality sectors, with an ambition to produce over 3 tonnes of fresh produce monthly.
Will Construct the World’s Largest High-Tech Vertical Farm in Mexico (2023/04/25)
A new Smart City called Tehuantepec is being built in Mexico, which includes heavy industries and aims to create 75,000 jobs. As part of this, iFarm will launch a pilot vertical farm in 2024, which has the potential to produce over 288 tons of high-quality crops per month. The goal is to eventually build 22 automated vertical farms in the city by 2028, producing a range of crops. Opus 2G Group is leading the Smart City project and is excited to collaborate with iFarm to make a social and environmental impact.
Furthers Presence In Middle-East With New HQ In UAE (2023/02/12)
iFarm has expanded to the Middle East and is now headquartered in the United Arab Emirates (UAE). The region is investing heavily in the agtech industry due to its reliance on imports to feed their growing demand for fresh, healthy food. The company already operates a farm and is constructing a new farm in Dubai. They are collaborating on a new vertical farm in Dubai using iFarm Leafy Greens technology. The MENA region is a prime target for iFarm’s expansion to provide fresh and healthy food year-round, promoting healthy living.
Markets StackGrow Automation With Game-Changing Efficiency (2022/06/27)
iFarms’ StackGrow automation, powered by AI, increases a vertical farm’s production by 50% per square meter, reduces electricity costs by up to 30%, and drops labor costs by 12%. With fully automated conveyors, lights, irrigation, and climate systems, iFarm’s StackGrow technology approaches total automation. The system uses 30% less energy than the previous generation of vertical farms. The GrowTune online interface automates all the key processes involved in vertical farming. StackGrow technology also enables a 50% increase in yield per square meter.
Image provided by iFarm
