Ten-year licensing deal with UK-based developer Groundworks marks a major milestone for vertical farming start-up founded in 2016. Vertical farming start-up Vertical Future has signed a £4.5m licensing deal enabling its "fully automated" vertical farming system to be rolled out across various locations over the next ten years, it announced.
The London-based firm, which claims its vertical farming system can dramatically boost food production per square metre compared to traditional growing methods, said the ten-year agreement would see UK-based developer Groundworks supply Vertical Future with a number of services, including construction support, project management and operations.
"Licensing deals ensure we can share our advanced hardware and software technologies and bring the benefits of vertical farming to urban and rural sites across the world in order to service an increasing need for sustainable food," said Vertical Future's chief executive and founder Jamie Burrows.
The firm claims its "one-of-a-kind" technology offers a 172 per cent increase in output per metre squared compared to traditional growing methods by relying on a number of patent-pending innovations that combine automation with more efficient use of space.
Read more at Business Green (Cecilia Keating)