“I’m thrilled to announce our newest farmer partner in Australia, as the initial launch of our global markets expansion, bringing our technologies to another continent,” said Dave Dinesen, CEO, CubicFarm. CubicFarm announced the sale of 18 modules of the CubicFarm System onsite indoor growing technology at a sale price of USD$2.7M.
BoomA Food Group will operate the commercial-scale vertical farm in Australia. BoomA Food Group will use these modules to grow commercial-scale amounts of produce in New South Wales, specializing in herbs and microgreens.
“We searched the world over for the right sustainable growing technology to serve our communities in New South Wales and beyond,” said Cory Robertson, Managing Director, BoomA Food Group. "Australia has experienced the challenges of climate change, the devastating effects of drought, and significant impacts on our food production. CubicFarm’s patented technology is superior to other vertical farming options because it provides commercial-scale output while minimizing environmental impact and maximizing cost efficiencies."
Food production in Australia has been significantly impacted year over year by devastating wildfires and major flooding. Farming currently covers 385 million hectares, or 58 percent of Australia, and accounts for 59 percent of the water extracted¹. Crops and horticulture in Australia are generally concentrated near the coast, while areas of New South Wales have been cleared at more than double the rate of the previous decade—and agriculture was responsible for more than half the area cleared.
The CubicFarm System was purchased by BoomA Food Group with funding provided by Baillie Asset Management as trustee for the Pokolbin Vertical Farm Infrastructure Fund.
Dave noted, “For a region that’s been devastated by natural disasters and food scarcity, our local chain ag-tech will empower local farmers to improve independent food production with predictable fresh produce 365 days a year. Our technology was founded by farmers as a solution to help farmers to succeed despite unpredictable outdoor growing conditions.”