9th August 2022
Corporate Stock Market

Kalera & Agrico Completes SPAC For NASDAQ Listing

Kalera SPAC

Through a press release published by Kalera, Kalera Public Limited Company and Agrico Acquisition Corp have announced the completion of their business combination after Agrico shareholders’ give their go-ahead. The combined business will keep the Kalera name and will start its listing on NASDAQ under the new ticker symbol “KAL” on Wednesday, June 29, 2022.

Jim Leighton, Kalera’s President, and Chief Executive Officer said, “Today is an incredibly proud moment and a milestone for the entire Kalera team. We founded Kalera with the goal of increasing access to the freshest and cleanest produce for a growing global population faced with climate change, reduction of fertile farmland, and soil erosion. Today’s announcement is another step in making that vision a reality, reflecting years of innovation and focus. The closing of this combination will accelerate widespread commercial growth across all our nutritious products while enabling us to embark on the next phase of our journey as a public company to solidify our position as a market leader.”

 

Agrico’s Chief Executive Officer, Brent De Jong, said “Kalera is unrivaled in its technology and ability to deliver healthy and nutritious produce for consumers around the globe. As a public company, Kalera will have the platform to fully execute against its vision, further accelerate its commercial programs and expand its growing portfolio and position in the market. We are excited about the future and continuing to work alongside Jim and the entire management team in its public phase.”

Kalera greens are pesticide-free and non-GMO, offering consumers fresh, clean, great-tasting lettuce. The climate-controlled environments at Kalera facilities allow for sustainable farming methods, such as water recycling and optimization of plant nutrient formulas that maximize production. Recently, the company opened their newest farm, located at 18000 E 40th Avenue, in Aurora, Colorado, a 90,000-square-foot-facility, increasing the footprint of the company in the US.

Globally, Kalera operates farms in Munich and Kuwait with a farm set to open in Singapore later this year. The Denver facility has already started production with first harvests done for May.

3 Comments

Leave a Reply

Your email address will not be published.

Cultivatd
X
%d bloggers like this: