Is Infarm set for a comeback?

Added on 20 August 2024

Tags

Infarm’s Decline and Rebirth: Once a major player in vertical farming, Infarm faced financial collapse due to inefficiencies, energy costs, and competition. It has re-emerged under a new entity, Infarm Technologies Limited.

New Focus on Kosher Products: The rebranded Infarm is now focusing on producing kosher, insect-free salad leaves in a controlled environment, primarily in Toronto, Canada.

Acquisition of Old Infarm’s Assets: The new Infarm acquired the old company’s assets, including intellectual property, for just over €40 million, with its IP valued at only €1.

Legal Issues Persist: Despite the new start, legal challenges linked to the old entity remain, including a lawsuit involving a former investor alleging misleading investment information.

North American Market Focus: The new Infarm is targeting the North American market, specifically the Jewish communities in the tri-state area, for its kosher products.

Competitive Market: Infarm faces competition from other vertical farming companies like Bowery, which is also pursuing the kosher market.