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- Vertical Harvest's Major Financing, Ponix's USDA Grant, and Nature's Miracle Launches 'MiracleTainer'
Vertical Harvest's Major Financing, Ponix's USDA Grant, and Nature's Miracle Launches 'MiracleTainer'
Discover this week's latest development from the world of Controlled Environment Agriculture.
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This Week in Indoor Farming: Vertical Harvest's Expansion, Ponix's USDA Project, and Nature’s Miracle's New Tech
Vertical Harvest Farms has secured $59.5 million to establish a 51,000 square-foot vertical farm in Westbrook, Maine, aimed at bolstering local food production in line with the New England Food Vision's goal of locally producing 30% of the region’s food by 2030. The project will generate 2.5 million pounds of fresh greens annually, enhancing nutritional intake by providing produce within 24 hours of harvest and reducing food waste. It continues the company's mission of offering meaningful job opportunities, especially for people with disabilities. This initiative has drawn support from various sectors, with funding comprising federal and private loans, a pioneering C-PACE loan, and contributions from the American Rescue Plan. This model, first used in Wyoming and now in Maine, shows the potential for future expansions like the planned facility in Detroit, demonstrating a robust approach to improving local food systems and creating inclusive employment through public-private partnerships.
The Coalition for Food Security (CFS), spearheaded by the AgTech startup Ponix, is using a $5 million USDA grant to advance climate-smart agriculture, including launching an inclusive marketplace for sustainable vegetable producers, primarily benefiting minority and underserved communities. This initiative is part of the USDA's Partnerships for Climate-Smart Commodities program, and includes comparative studies of the environmental impacts of hydroponic and traditional farming to potentially support a new carbon credit system. The coalition, comprising various partners like minority-focused organizations and educational institutions, aims to broaden agribusiness opportunities and enhance professional development in agriculture. Ponix's pilot hydroponic farm in Decatur demonstrates space efficiency and is anticipated to start harvesting in May, potentially leading to the establishment of a carbon credit system if it successfully reduces greenhouse gas emissions. This project represents a broader USDA effort to promote environmentally sustainable agricultural practices and expand market opportunities for climate-smart commodities.
Nature’s Miracle Holdings Inc. has launched its innovative “MiracleTainer” container farms, shipping the first two units to Growterra, LLC. These containers feature advanced technologies such as LED grow lights, hydroponic systems, and environmental sensors, all designed to optimize conditions for crop growth and increase production yields significantly over traditional farming methods. Alongside this product rollout, Nature’s Miracle has also acquired Agrify, planning to integrate its Agrify Insights™ SaaS Software into the container farms to enhance their functionality further. This integration aims to reduce the initial capital expenses for vertical farmers, thereby boosting sustainability and profitability within the sector. James Li, CEO of Nature’s Miracle, emphasized that these advancements are part of the company's broader strategy to lead in providing efficient and economically viable solutions for the vertical farming industry.
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