Netled and Oh My Greens (OMG) have signed a contract for a three-year investment program worth 15 million euros over three years. The project will see Netled deliver its Vera vertical farm to OMG, a Swedish supplier of potted herbs.
The contract signed in June 2021, also includes a five-year maintenance and cultivation consultancy service and is estimated to be one of the largest turn-key technology deals specifically between the technology providers and farm operators in the indoor agriculture market to date.
“We considered 17 different vertical farming technology providers and came to the conclusion that, in terms of its technology, know-how, and delivery capabilities, Netled is years ahead of the competition,” says CEO of OMG, Moses Isik.
The first delivery for the project is underway and is valued at 3.2 million euros; it is due in Q2 of 2022. After commissioning, Netled will continue to provide technical and consultancy services while OMG will focus on producing and supplying vegetables to retailers in Stockholm. The second phase of the investment plan is due to start Q4/2022.
OMG is a farm operator company providing consumers with potted herbs and has ambitions to achieve a major market share in Sweden by the end of the investment program, as they cover 40% of the total population as of yet.
“Netled’s technical and horticultural knowledge, and decades of experience of growing technologies, combined with OMG’s superb logistic network and existing customer relationships, creates an unbeatable competitive advantage which will allow us to quickly increase our market share and supersede traditional herb production with sustainable and ecological vertical farming that will disrupt the existing supply structures.” Moses continues.
“Netled’s Vera vertical farming technology will allow us to provide customers throughout Sweden with fresher herbs and leafy greens, grown hyper-locally and with a significantly reduced carbon footprint”, Moses adds. “Not only does the customer benefit, but the planet does too!”
“The cooperation with OMG and its sister company, Bake My Day (BMD), creates a huge opportunity for Netled to increase its market presence in Sweden. It also solidifies our position as the global leader in vertical farming technology,” says CEO of Netled, Niko Kivioja.
This contract is the first industrial-scale operation for Netled, which was previously focused on urban farm scale.
“This contract not only allows OMG to produce fantastic products for customers throughout the whole of Sweden, but it also functions as a clear example to other farm operators of the industrial-scale applications and opportunities our Vera vertical farming technology is capable of.” Kivioja continues.