Aquaponics greenhouse company kicks off massive expansion

Added on 23 February 2023

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Aquaponics greenhouse company kicks off massive expansion

Springworks, a Northeast-based certified organic aquaponic greenhouse, has announced a $22 million round of new funding that will fuel the company’s regional 120,000 square-foot expansion. The capital, raised through a combination of equity and debt, will fund the construction of Springworks’ fourth and largest greenhouse. This is Phase One of Springworks’ plan to build 500,000 square feet of greenhouse space over the next six years.

Springworks uses aquaponics to grow organic bibb, romaine, and green leaf lettuce. The expansion will allow Springworks, which already services over 300 stores, to meet the increasing demand for local, safe, and sustainable food. By investing regionally, Springworks cuts thousands of food transportation miles for customers such as Hannaford, Whole Foods, and Roche Bros. to increase access to high-quality, local food year-round.

“Regional agriculture is core to the sustainable future we want to help build,” says Trevor Kenkel, who founded Springworks in 2014 at the age of 19. “By delivering organic greens to customers faster, we are able to cut food waste and improve quality.”

Karin Gregory led the investment for Blue Highway Capital.

“We first met the Springworks team in 2021 and began to follow their progress. We look in rural areas for companies with strong management teams in sectors positioned for growth and are pleased to have participated in this financing with Farm Credit East,” Gregory says.