LONDON, July 7, 2022 /PRNewswire/ — Duncan Bannatyne brings his expertise and entrepreneurial skill to agricultural technology company, Innovation Agri-Tech Group (‘IAG’), having joined the Board of the Company as a Non-Executive Director.
Bannatyne, best known for founding the Bannatyne Group which in 2006 became the largest independent chain of Health Clubs in the UK, has a unique set of entrepreneurial skills, a bank of knowledge, and true business dexterity.
Having joined the Royal Navy at just 15, Bannatyne started his business career at the young age of 20 on Jersey, buying an ice cream van for just £450, before eventually selling the business in order to fund Quality Care Homes – a care home business he sold for £26 million in 1996 – and a children’s nursery chain Just Learning, which was sold for £22 million. Bannatyne is a philanthropist and author of seven books, and famous for being a business angel on BBC TV’s ‘Dragon’s Den’. In 2004, he was awarded the Order of the British Empire (OBE) for his services to charity. His vision, values and passion for enabling successful business launches in the UK and globally, make him such a valuable addition to the board.
Mr Bannatyne joins the IAG board as a Non-Executive Director, having been impressed by the technology developed by the team at IAG and how the future of vertical farming is set to revolutionise the way that we grow food on a global scale.
Duncan Bannatyne, Non-Executive Director at IAG, comments: “On visiting the IAG farm, I was quite amazed at how simple it is to grow food indoors and – importantly – vertically. There is no denying the massive issues effecting people today – such as the terrible situation in Ukraine. However, this isn’t by any means the sole factor when considering the global food shortage which has been apparent for decades. As populations continue to grow, we need a new way of producing food as traditional farming methods alone aren’t meeting demand, and in my opinion vertical farming is the perfect solution. It complements the work farmers around the world are already doing, and by using aeroponic technology it combats the issues of soil degradation, food miles, seasonality and water usage.
“While many might see vertical farming as some strange Sci-Fi project, it’s certainly anything but. Once set up, it’s easy to use and can quickly grow a range of produce which is high in nutrition, as well as tasting fantastic. This is exciting – and it’s only the beginning. I’m looking forward to the journey with IAG – and how vertical farming will play an increasingly vital role in the food chain supply moving into the future.
Jaz Singh, CEO, Innovation Agri-Tech Group says: “We’re delighted to welcome Duncan to the board of IAG. Having such a fantastic ambassador for vertical farming can only be beneficial for us as we look to take our business from the R&D phase to market. It’s a really exciting moment and we genuinely believe that vertical farming is the technology of the future.”