Pure Harvest and Richel Group Ink $150 Million Partnership

Key Takeaways

• Pure Harvest Smart Farms partners with Richel Group in a three-year, exclusive strategic alliance.
• The partnership aims to deploy over $150 million in smart growing systems, focusing initially on the Middle East and Asia.
• Both companies share a vision for industrializing and standardizing the Controlled-Environment Agriculture (CEA) industry.
• The collaboration is already working on projects in Singapore, Kuwait, and Saudi Arabia.
• The partnership aims to accelerate growth, reduce building costs, and deliver technologically advanced farming solutions.

Pure Harvest Smart Farms (Pure Harvest), a leading sustainable, tech-enabled agribusiness, has entered into a three-year exclusive strategic partnership with Richel Group, a global provider of turnkey mid-to-high tech greenhouse solutions. The collaboration aims to invest over $150 million in smart growing systems, initially focusing on the Middle East and Asia, with the potential for future geographic expansion.

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A Shared Vision for Agriculture

Both companies aim to industrialize, standardize, and professionalize the Controlled-Environment Agriculture (CEA) industry. Richel Group will support the design and construction of smart farms across the Middle East and Asia, leveraging Pure Harvest’s extensive experience in challenging climates. The partnership is already working on projects in Singapore, Kuwait, and Saudi Arabia.

Leadership Insights

Sky Kurtz, Founder and CEO of Pure Harvest, praised Richel Group’s performance in a recent project, stating that the partnership would help achieve long-term growth objectives while consolidating project timelines and reducing build costs. Benjamin Richel, CEO of Richel Group, lauded Pure Harvest’s unique approach, combining horticultural talent with best practices from technology and construction industries.

Future Prospects

Pure Harvest aims to become the world’s most efficient tech-enabled agribusiness, serving additional markets and attracting more capital. Through this partnership, both companies anticipate rapid growth within target markets, reduced building costs, and the delivery of bespoke, technologically advanced farming solutions.