Poeldijk-based vertical farm Future Crops has been declared bankrupt. For this reason, all equipment belonging to the baby lettuce and herb producer will be auctioned through Troostwijk Auctions' platform. The lots can be bid on from Wednesday, April 5, 2023, at 16:00. The auction closes on Wednesday, April 26, 2023, at 10:00.
The Dutch-Israeli company Future Crops, based in Poeldijk, South Holland, had been producing various herbs, including basil, coriander, parsley, and dill, on a commercial basis since 2018. In addition, the 2,500-square-metre production site was used to grow baby lettuce. Annual production was around 85 tonnes, some of which was purchased by supermarket chain Albert Heijn. Future Crops also owned its own testing laboratory.
In early 2023, Future Crops was declared bankrupt. Sharply increased energy costs make it difficult for vertical farms to compete with regular growers in the European Union and the United States.
The former Business Unit Director at Future Crops hinted at the National Horticulture Congress at Floriade in Almere last October that Future Crops was struggling financially. "We operate in a capital-intensive industry. Partly because of this, we are still a long way from recouping our investment." It is unknown whether high energy costs or the level of investment underlie Future Crops' bankruptcy.
Growing systems, seeding lines, and growth systems
Due to Future Crops' bankruptcy, all the company's machinery will be offered online in an auction by Troostwijk Auctions. Items appearing under the hammer include an automatic growth chamber cultivation system (high-rise system) consisting of nine sections with nine growth levels each, an Urbinati drum seeding line and an Urbinati planting robot (year of construction 2017), a cutting robot IG Agri systems (year of construction 2019), multi-story growing systems, a deep-drawing packaging machine Multivac (year of construction 2018), R&D department, cooling systems, water purification system, weighing systems, hygiene sluices and more. View all 217 lots in this auction here.
About the auction
The online auction of equipment from Poeldijk-based vertical farm Future Crops closes on Wednesday, April 26, 2023, at 10:00. Would you like to view the lots before bidding? You can do so during the viewing day on Thursday, April 20, 2023, from 10:00 to 15:00. Address: ABC Westland 246, 2685 DC in Poeldijk.