Indoor farming pioneer receives €50M growth capital

Scale-up finances further expansion in North America and Europe.

Over the last 10 years, PlantLab has developed a breakthrough technology for innovative urban farming. This patented technology is already being used at its 15,000 m˛ commercial production location in Amsterdam as well as locations in Indianapolis and the Bahamas. Enough crops can be grown on an area no larger than two football fields to supply a city of 100,000 residents with 200 g of fresh vegetables every day. Plantlab is presently focusing on growing salad vegetables, herbs, tomatoes and cucumbers but has already done the research necessary for cultivating a great many other commercial crops.

Ready to scale up further

"Over the last 10 years, we have worked really hard together with the pioneers of the company to further develop our technology", explains Leon van Duijn, one of PlantLab's founders. "Our technology solves important issues in our food system and is already being successfully applied at commercial production sites in the Netherlands, the USA, and the Bahamas. We are now ready to take the next step and scale our operations up to the next level, that is also why we have doubled our workforce over the last year."

"We are happy that De Hoge Dennen is investing in our further growth", says Eelco Ockers, CEO of PlantLab. "This innovative technology will enable us to shape the future food supply of our planet for many years to come. The potential is enormous. Our production location in Amsterdam has already proven that the technology is very suitable for large-scale urban farming. Our client base in the Netherlands already includes Van Gelder and Picnic, and our locations in Indianapolis and the Bahamas are also seeing rapid growth. This latest injection of capital will enable us to now accelerate our expansion outside the Netherlands."

De Hoge Dennen is part of the investment arm of the De Rijcke family, the former owners of Kruidvat. Its previous investments included investments in the online supermarket Picnic, the Felyx shared scooter concept, and the electrical bicycle brand QWIC. PlantLab's CFO Jelle Roodbeen: "We think that PlantLab's innovative technology will be a game changer on a global scale. It will make fresh, healthy and delicious vegetables available to consumers wherever they are, and it will do so affordably and sustainably."

Less CO2 emissions 
PlantLab's technology makes it possible to grow vegetables all over the world, including crops such as tomatoes, cucumbers, basil, and mint. This can even be done on barren soils or in urban areas. Thanks to optimised temperature, moisture, and light regulation, the crops can reach their full potential with a 95% reduction in the amount of water needed and zero use of chemical crop control agents. Light is provided by specially developed LEDs, which generate the specific wavelength needed by the plans for photosynthesis. As the production locations can be situated near client companies and consumers, the crops no longer have to be transported over long distances, which in turn greatly reduces CO2 emissions, costs, and food waste.

PlantLab has its R&D centre in Den Bosch, the largest such centre for vertical farming in the world. Its commercial production location in Amsterdam is the largest such location in Europe. In addition to its Amsterdam location, PlantLab also has production locations in Indianapolis (Indiana, USA) and the Bahamas. The company is presently also expanding its activities in the US and Europe. It presently employs over 100 people internationally.

About PlantLab
PlantLab specialises in technology for innovative indoor farming, and aims to supply the planet with a sustainable source of food for the future. The company was founded in 2010 in Den Bosch with the goal of revolutionising the production of food for our planet. Over the past 10 years, the company has already invested €70 million in the development of technology that makes it possible to grow healthy, day fresh vegetables close to the consumer anywhere in the world without the use of chemical crop agents sustainably and environmentally friendly, while at the same time reducing water consumption to an absolute minimum. Enough crops can be grown on an area no bigger than two football fields to supply a city of 100,000 residents with 200 g of fresh vegetables every day. As the new technology can be used all year all over the world, it also makes it possible to radically rethink and restructure the logistics chain. The benefits: superior product quality, longer shelf life, less food wastage, and practically no CO2 emissions or nuisance associated with long-distance transport. PlantLab aims to make its technology accessible to everyone and therefore make fresh and sustainably grown food also accessible to everyone.

Source and Photo Courtesy of PlantLab

Source: HortiBiz