New vertical farm secures £100m investment

By Gwen Ridler contact

- Last updated on GMT

GrowUp Farms has secured investment £100m for a new vertical farm in Kent
GrowUp Farms has secured investment £100m for a new vertical farm in Kent

Related tags: Fresh produce

GrowUp Farms has secured £100m from green infrastructure investment firm Generate Capital to fund the creation of its new vertical farm at Discovery Park, Kent.

The first of a number of planned large, low-carbon indoor farms intended to serve the wholesale and retail markets in the UK, the site is being designed to use 95% less water than conventional growing methods, with the salads grown potentially saving annually up to three million lorry miles by avoiding imports. 

The Net Zero team from independent UK law firm Burges Salmon advised GrowUp Farms on all project aspects. 

‘Important milestone’ 

Marcus Whately, Managing Director at GrowUp Farms, said: "We've worked closely with Alec, Nick, and other members of Burges Salmon’s Net Zero team to achieve another important milestone in the GrowUp journey. The team's energy and pragmatic advice have helped enormously and we look forward to working with them again." 

According to GrowUp, its proprietary renewable energy system and energy contracting structure made its farms ideally placed to deliver fresh, long-lasting salads consistently that can withstand mounting environmental and economic pressures from inflation in transport, labour and commodity costs. 

Nick Churchward, client partner for GrowUp Farms commented: “We are delighted to have brought together experts from our energy, food & land use and built environment teams to help deliver this fantastic project for GrowUp. 

Sustainability challenges  

“It was a superb team effort from all involved. This is a really exciting time for projects addressing key sustainability challenges and we look forward to assisting GrowUp and others as they work towards transforming the impact of UK businesses.” 

In May last year, sausage maker Heck announces the installation of a new vertical farm to grow herbs and vegetables for its Italia and Veg with Edge Product lines, as part of a £3.5m expansion of its Kirklington, North Yorkshire Factory. 

Meanwhile, last month, vertical farming firm Vertical Future secured a £21m investment​ in Europe’s ‘largest ever’ Series A funding round in the sector. 

Related topics: Fresh produce, Environment

Related news

Show more

comments

Post your comment

We will not publish your email address on the website

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.