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UAE: Hybrid farm partners with food caterer to expand globally

David and Goliath Farms have formed a partnership with Vintage Foods. This collaboration is set to extend David and Goliath's farming model to a wider audience. Vintage Foods will adopt and scale these practices globally.

Dr Lal Bhatia, chairman of David and Goliath Farms, commented, "This is about more than just expanding our operations; it's about fostering a greener future. Our successful carbon credit strategy and ongoing expansion demonstrate that sustainability and profitability are mutually reinforcing, proving a robust model for the future of agriculture."

"Our partnership with David and Goliath Farms and the employment of their innovative approach aim to achieve a multi-pronged strategy of environmental preservation, food security, product price stability, increased access to capital, and greater profitability. We are excited about the collaboration and foresee the establishment of a test setup by Q4 of 2024," said Paul Kotowski, managing director, of Vintage Trading/Vintage Foods.

Carbon credits
Based in Ajman, UAE, David & Goliath Farms recently secured €5 million through carbon credit monetization, owing to its hybrid farming systems. This approach generates an annual revenue of $833,430 and prevents the emission of 15,000 metric tons of CO2.

This move results from David & Goliath's recent negotiation of a carbon credit rate of €50 per ton, which culminates in an annual return of €750,000 in carbon credits locked in for seven years. With forecasts suggesting an ascent in carbon credit prices to the €70-90+ range by 2030 within regulated markets like the EU ETS, the investor remains prudently secure with the credits locked in at a conservative €50.

Source: Khaleej Times

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