Key Takeaways
- Infarm’s Decline and Rebirth: Once a major player in vertical farming, Infarm faced financial collapse due to inefficiencies, energy costs, and competition. It has re-emerged under a new entity, Infarm Technologies Limited.
- New Focus on Kosher Products: The rebranded Infarm is now focusing on producing kosher, insect-free salad leaves in a controlled environment, primarily in Toronto, Canada.
- Acquisition of Old Infarm’s Assets: The new Infarm acquired the old company’s assets, including intellectual property, for just over €40 million, with its IP valued at only €1.
- Legal Issues Persist: Despite the new start, legal challenges linked to the old entity remain, including a lawsuit involving a former investor alleging misleading investment information.
- North American Market Focus: The new Infarm is targeting the North American market, specifically the Jewish communities in the tri-state area, for its kosher products.
- Competitive Market: Infarm faces competition from other vertical farming companies like Bowery, which is also pursuing the kosher market.
Infarm’s Journey from Collapse to Rebirth
As first reported by Sifted, once a leading name in the vertical farming industry, Infarm has undergone a significant transformation after facing financial collapse due to inefficiencies, rising energy costs, and intense competition. The company has re-emerged under a new entity, Infarm Technologies Limited, with a revised business strategy aimed at carving out a niche in the competitive market.
Acquisition of Assets and Intellectual Property
In its rebirth, Infarm Technologies Limited acquired the assets of the old Infarm company, including its intellectual property, for just over €40 million. Notably, the intellectual property was valued at only €1, reflecting the challenges the company faced during its decline. Despite this, the acquisition allows the new entity to build on the foundation established by its predecessor while charting a new course.
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Infarm Latest News
Infarm Systems To Be Auctioned By Greenfield Auctions (2024/07/31)
Greenfield Auctions, an online auction house based in Hamburg, is holding an auction featuring Infarm GmbH’s growing systems. The auction includes vertical growing systems, packaging equipment, and other plant equipment previously used by Infarm GmbH. Interested bidders can view the systems before the online auction, which runs until August 29, 2024. To participate, interested parties must register on the auction house’s website and complete telephone verification.
Sifted Article Sheds Light On Company’s Journey (2023/12/18)
A recently published Sifted article traced back the story of Infarm, a Berlin-based startup that specializes in urban farming. Founded in 2013, the company started as a small experiment with an ambitious vision to revolutionize the way we grow and consume food. In just a few short years, Infarm has grown into a major player in the sector, with partnerships in multiple countries and a valuation of $1 billion. Despite its early success, however, Infarm has faced challenges in recent years. The company has struggled with over-promising and under-delivering, as well as with technological and operational inefficiencies, according to Sifted. In particular, Infarm’s ambitious expansion and innovation in vertical farming have proven to be costly and difficult to scale. These challenges have resulted in financial struggles, market exits, and reduced public visibility for the company.
Read the complete article on Sifted
Infarm Enters Administration In The UK & Wales (2023/09/10)
Infarm – Indoor Urban Farming GmbH entered administration on September 4, 2023, under England & Wales Insolvency Rules. The appointed Joint Administrators are Gordon Thomson and Damian Webb of RSM UK Restructuring Advisory LLP. For stakeholders requiring information on how this affects them, they should contact Clem Tibber or Gordon Bettany in the UK.
Changes Head Office To The UK (2023/07/10)
Infarm – Indoor Urban Farming GmbH (HRB 152466 B) has officially announced that it has relocated its head office and principal place of business to London, England. Effective immediately, the new address for all notices or communications will be 1 Warwick Street, London, W1B 5LR. However, it is important to note that the registered address of the company will remain at Gartenfelder Str. 28, HW 13, 13599 Berlin, Germany. Moreover, the board of directors of the company has been reconstituted and currently consists of only Robert Gilmore.
Infarm Restructuration Continues As They Close Facilities in Frankfurt, Copenhagen, UK, France, Netherlands, and Japan (2023/04/17)
Infarm – Indoor Urban Farming Gmbh closes its operations in several countries. Last November, the company announced its intention to downsize and shut down some of its facilities to cut costs and streamline operations. At the time of the announcement, it was revealed that the facilities in Frankfurt and Copenhagen were set to be consolidated. At the same time, operations in the UK, France, and the Netherlands would be downsized. Fast forward to February 9th of this year, and the company announced that it would be closing down operations in the UK, France, the Netherlands, and Japan. The restructuring continued in April as the company announced the closure of its facilities in Frankfurt on the 6th and Copenhagen on the 14th. However, Infarm’s operations in the US, Canada, and other facilities in Germany are expected to remain (for now, at least). Last year, during Bloomberg’s event in Doha, Qatar, Infarm announced its plans to open a new facility by the end of the year, for which no updates have been given.
Gets B Corp Certification (2023/02/13)
Infarm -indoor urban farming gmbh announced in a press release that it became certified as a B Corporation. The company has vowed to have a sustainable impact over the years, releasing a sustainability vision, setting the objective to become net-zero by 2045, and being part of the vertical farming manifesto (signed with 20 other companies during the Vertical Farming World Congress In Brussels. This certification requires a minimum score of 80 points on the B Impact Assessment. Infarm has exceeded this requirement by scoring 83.6 points.
Infarm Announces Strategy Shift, Cuts 50% of Workforce, Focus on ROI (2022/11/29)
Infarm – Indoor Urban Farming Gmbh announced the challenging market conditions it was facing, including rising energy prices and challenging financial markets. The co-founders acknowledged that the company needed to adapt its growth targets and increase efficiencies to ensure profitability and continue its long-term mission. As a result, approximately 500 employees, half of the workforce, would be leaving the company. Infarm cited reasons such as escalating energy prices, inflation rates, and supply chain disruptions for the changes. The company plans to consolidate its operations in Frankfurt, Copenhagen, and Toronto, where it has solid retail partnerships and secured contracts. Operations in the UK, France, and the Netherlands will be downsized. Despite these adjustments, Infarm remains committed to its sustainability, climate, and food security goals, including its net-zero emissions targets and recently acquired B-Corp certification.
Ambition To Be Net-Zero By 2045 (2022/11/11)
Infarm submitted its climate ambitions to the Science Based Targets project (SBTi), aiming to achieve net-zero emissions by 2045. The company has set short-term reduction targets for its Scope 1, Scope 2, and Scope 3 emissions, committing to a 42% absolute reduction in Scope 1 emissions by 2030 and a combined intensity reduction of 48% for Scope 2 and Scope 3 emissions. Infarm plans to achieve a total reduction of 90% of Scope 1 and 2 emissions and a total intensity reduction of 97% by 2045, with any remaining emissions addressed through permanent carbon removal technologies. Infarm recognizes the significant role of food systems in global greenhouse gas emissions and aims to drive change in the food production industry through its tech-driven approach. The company acknowledges that its supply chain emissions account for around 70% of its overall carbon footprint and intends to collaborate with strategic suppliers to decarbonize the supply chain. Infarm’s climate strategy aligns with its commitment as a certified B Corporation and its resource-efficient and climate-friendly food production goal. The company emphasizes the importance of limiting global emissions to mitigate the impacts of climate change as outlined in the Paris Climate Accord.
Manages To Grow Wheat Indoors (2022/11/10)
During the Food Systems Pavilion at COP 27, Infarm announced that it has successfully grown wheat on an indoor farm, becoming the first vertical farming company to tackle staple crop production in a controlled environment. The trials yielded exceptional results, projecting a yield of 11.7 kg per square meter per year, equivalent to 117 tonnes per hectare per year, 26 times that of traditional outdoor farming. This achievement is significant for global food security, as wheat is a calorie-dense and resource-intensive crop that plays a crucial role in diets worldwide. Growing wheat indoors provides a climate-resilient alternative, particularly in the face of climate change and the ongoing Russian-Ukrainian war impacting wheat farms. Infarm aims to increase wheat yields through improved genetics, hardware, and optimized growth environments.
Infarm Co-host COP27 Food Pavillon (2022/08/18)
The coalition comprises more than 15 public, private, and non-profit leaders, including farmers, policymakers, and scientists. The diversity of expertise and perspectives sets this coalition apart, as they commit to collaborative efforts in addressing trade-offs, showcasing solutions, and overcoming barriers. The participating organizations include co-hosts like Clim-Eat, Coalition of Action for Soil Health (CA4SH), EIT Food, Environmental Defense Fund, FOLU, Good Food Institute, Infarm, SNV, and Yara International, along with session partners and supporting partners. With agriculture and food systems accounting for significant greenhouse gas emissions, transforming these systems presents substantial challenges and opportunities. The Food Systems Pavilion aims to drive action and champion #ActionOnFood at COP27, recognizing the critical role of food and agriculture in reducing emissions and promoting social justice and food security.
Opens a 10,000 sqm Facility in Bedford, UK (2022/06/27)
In June 2022, Infarm officially opened one of Europe’s largest urban farms in Bedford, UK. The facility, spanning 10,000 sqm, is Infarm’s first high-capacity Growing Centre in the UK and can accommodate up to 40 cloud-connected farming units, each capable of growing over 500,000 plants per year. Government officials attended the opening ceremony, highlighting the importance of domestic food production, innovation, and environmental sustainability. The facility’s advanced technology allows for low carbon footprint cultivation without chemical pesticides, using minimal water and land compared to traditional agriculture. The Bedford facility is part of Infarm’s global expansion plans, aiming to establish vertical farms in 20 countries by 2030.
New Largest Infarm Growing Centre will supply the Northeastern US (2022/06/22)
Infarm announced the establishment of its largest Growing Centre in the US to date, located in Columbia, Howard County, Maryland. The new facility, along with existing ones in Seattle and Austin, Texas, marks a significant step in Infarm’s US expansion plans, aiming to roll out its network of cloud-connected farming facilities across the country. The Maryland Growing Centre, spanning approximately 18,600 square meters, will add to Infarm’s US portfolio and produce up to 45 million crops annually. The facility is expected to create over 50 jobs in Howard County. Infarm’s data-driven approach and focus on sustainability contribute to its goal of making fresh and nutritious food accessible globally, with partnerships already established with major retailers.
Partners With Carbmee for Carbon Data Management (2022/06/16)
Infarm has integrated Carbmee’s carbon management software to monitor and report its Scope 3 emissions. Infarm is committed to setting Net Zero Science-Based Targets and reducing its carbon footprint in key impact areas such as local production, land use, water, and energy. By partnering with Carbmee, Infarm gains visibility into the emissions embedded within its supply chain, allowing for collaboration with suppliers to reduce emissions. Infarm’s focus on sustainability and its dedication to a Net Zero future align with the Paris Climate Agreement and the Science-Based Target initiative. The company plans to set and communicate its Net Zero Science-Based Targets by the end of 2022.
IKEA & Infarm to Grow Healthy, Sustainable Herbs (2022/06/14)
IKEA has partnered with Infarm to grow herbs inside the restaurants of three IKEA stores in Germany, aiming to offer customers sustainable and locally-grown produce. Infarm’s modular vertical farming technology will cultivate herbs like dill, curly parsley, and Italian basil in-store, providing customers with fresh and flavorful meal ingredients. The partnership aligns with IKEA’s focus on sustainability and healthier living, as it seeks to inspire and empower people to make more sustainable food choices. By combining their expertise, IKEA and Infarm aim to revolutionize their respective industries and promote a more sustainable food production and consumption approach.
Infarm Publishes Its First Sustainability Vision (2022/06/01)
Infarm has released an Impact Vision Paper outlining its vision for the future of food and its commitment to sustainability. As the first company in the vertical farming sector to publish such a comprehensive document, Infarm highlights its strengths, challenges, plans, and ambitions in areas like local production, land use, carbon and energy, and water. The company aims to create a new and sustainable food system by growing fresh and tasty produce locally and sustainably. Infarm sets ambitious sustainability targets and hopes its transparency and approach will inspire other companies in the Food and AgTech industry to enhance their sustainability efforts.
Infarm Gets Backing From Qatar Wealth Fund (2021/12/16)
Infarm raised $200 million in a Series D funding round, with participation from new and existing investors, including the Qatar Investment Authority (QIA). The funds will expand the company’s vertical farming deployments in the US, Canada, Japan, and Europe and enter new markets in the Asia-Pacific and Middle East. Infarm plans to open its first Growing Centre in Qatar in 2023 and aims to grow a wide range of crops close to consumers globally. The company’s cloud-connected farming network, which collects data from lab-grade sensors, enables continuous improvement of growing conditions and has already achieved significant cost reductions and yield improvements.
Image provided by InFarm
