Plenty says its vertical towers can grow multiple crops on one platform with consistent flavor and deliver higher yields per acre compared to that of a field.
NEW YORK (AP) — Walmart said Tuesday it has taken a stake in agriculture startup Plenty, becoming the first large U.S. retailer to significantly invest in indoor vertical farming as a way to deliver fresher produce to its stores.
Vertical farmers tout their high-quality produce that brings higher yields while using less water and land. The method also doesn't use pesticide, and the produce can be grown year round near the point of distribution, increasing the reliability of supply.
Walmart, the nation's largest retailer, declined to comment on the size of its investment or the financial terms of the deal. But the retailer based in Bentonville, Arkansas, said that it will join Plenty's board at the close of the transaction.
The deal comes as grocery stores are under pressure to have more environmentally friendly practices. Plenty, based in South San Francisco, is one of many players in the fast-growing field of indoor farming. Others include Morehead, Kentucky-based AppHarvest, and New York-based Gotham Greens.
In a recent global survey, consulting firm Agritecture — which works with urban farmers — found that at least 74 indoor farming companies were founded in 2020 alone.
Plenty, which was founded in 2014 and has a vertical farm in South San Francisco, also operates an indoor plant science research facility in Laramie, Wyoming. It is now building in Compton, California, what it says will be the world's highest output vertical indoor farm, due to open in the second half of this year.
Plenty said its vertical farming towers are designed to grow multiple crops on one platform in a building the size of a big box retail store. Its systems feature vertical plant towers, LED lighting and robots to plant, feed and harvest crops. It says its farms use 1% of the land that an outdoor farm requires while delivering anywhere from 150 to 350 times more food per acre.
Walmart said that under the deal, Plenty's Compton farm will send leafy greens to Walmart's California stores beginning later this year. It said the vertical farms will supplement, but won't replace, traditional farming practices, while helping increase the food supply in a sustainable way.
___
Follow Anne D'Innocenzio: http://twitter.com/ADInnocenzio
Please purchase a Premium Subscription to continue reading.
To continue, please log in, or sign up for a new account.
We offer one free story view per month. If you register for an account, you will get two additional story views. After those three total views, we ask that you support us with a subscription.
A subscription to our digital content is so much more than just access to our valuable content. It means you’re helping to support a local community institution that has, from its very start, supported the betterment of our society. Thank you very much!
Only subscribers can view and post comments on articles.
Already a subscriber? Login Here
What the Constitution Means to Me Read moreWhat The Constitution Means To Me
You're invited to our Sale Like a Celebrity event, hosted by Expedia Cruises. Join us at Rou… Read moreCelebrity Cruises Special Event
Join us for community fun! Free antique and collectible appraisals by Clars Auction. Over 30… Read moreMillbrae Senior Showcase
Mike Caggiano said:
Bravo Mjones, well said
Mike Caggiano said:
Success! An email has been sent to with a link to confirm list signup.
Error! There was an error processing your request.
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
| Rate: | |
| Begins: | |
| Transaction ID: |
A receipt was sent to your email.
(0) comments
Welcome to the discussion.
Log In
Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.