Freight Farms expands container farm adoption in nonprofit sector
Added on 07 February 2024
To meet this demand, Freight Farms saw customers scaling the number of farm units in their operations increase by approximately 70%, driven primarily by growth of 147% in non-profit and healthcare customers and 27% in education customers.
This continued momentum sets the stage for the newest iteration of Freight Farms’ container farm, the Garden. This year, Freight Farms expects to unveil the Garden through strategic partnerships – starting with the Museum of Science, Boston – to showcase how it seamlessly integrates into educational settings, public areas and institutions within the hospitality and nonprofit sectors. Market production is expected to begin in 2025.
In addition, this growth report follows the previously announced public business combination between Agrinam, Freight Farms and Agrinam Merger Sub, Inc., a wholly owned subsidiary of Agrinam, whereby Agrinam will acquire all of the issued and outstanding shares of Freight Farms by way of a triangular merger (the “Business Combination”). This includes, as a condition to closing, that the resulting company from the Business Combination be listed on the Toronto Stock Exchange.
The Garden builds upon the success of the Greenery, a commercial-scale, modular farm leveraging the most advanced hydroponic, vertical farming and controlled-environment technology. Greenery farmers can produce 2-6 tons of annual harvest with 90% less water and land usage than traditional field-based farming – all within a 40′ shipping container.
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