How much is AeroFarms worth?
$1.2 billion
Vertical farming firm AeroFarms and Spring Valley Acquisition Corp., a publicly traded special purpose acquisition company (SPAC), have agreed to call off their planned merger, effective immediately, the companies said in a statement. The deal, announced in March, would have valued the new company at $1.2 billion.
What grows AeroFarms?
‘More like a factory than a farm’ AeroFarms has grown over 250 types of leafy greens and sells more than 20 varieties of greens such as arugula, kale and spinach but hopes to expand their offering in the future.
Where is AeroFarms located?
Newark, New Jersey
AeroFarms is a sustainable indoor agriculture company based in Newark, New Jersey and uses a patented aeroponic growing system to grow produce.
How many employees does AeroFarms have?
Aerofarms LLC has 84 total employees across all of its locations and generates $25.07 million in sales (USD).
Can I invest in AeroFarms?
Currently, AeroFarms is not a buy, but it should be on a watchlist for investors to watch closely to see how well they can execute.
What happened to AeroFarms?
Indoor farming pioneer AeroFarms and Spring Valley Acquisition Corp., a publicly traded special purpose acquisition company (SPAC), have mutually agreed to terminate a previously announced agreement to take the company public.
What is the main benefit of AeroFarms?
AeroFarms uses an aeroponic system to provide the right amount of water and nutrients, with temperature and humidity constantly fine-tuned, so that each crop has the perfect growing conditions. As a result, they can grow a variety of produce all year round, defying the seasons.
Is vertical farming Profitable?
Without significant innovation in lighting technology or ag-focused automation, both of which are still in their infancy, traditional vertical farms will struggle to achieve profitability.
How tall is AeroFarms?
AeroFarms, a vertical farm in Newark, New Jersey, is nothing like that. Instead of stretching down through the soil, plants are placed in trays stacked 30 feet high. The greens don’t thrive on sunlight, basking in LED lights instead.
How did AeroFarms start?
In 2004, Ed built our first commercial aeroponic farm in the Ithaca, NY area, selling locally grown leafy greens to supermarkets and restaurants for four years. In 2009, a shift to LED lights was made to lower the energy consumption of the artificial lighting.
Is AeroFarms on the stock market?
Through a merger with Spring Valley Acquisition Corp, a SPAC, AeroFarms will become a publicly traded company on the Nasdaq exchange.