Set to begin construction this year, the site will boast a 20,000m2 growing area and will be one of the largest controlled environment agriculture infrastructure facilities worldwide.
Planet Farm’s new development will replicate the company’s facility in Cirimido (Como) in Italy, which supplies more than 25% of the total distribution of Italian retailers as well as top retailers in Switzerland.
The move followed the announcement of a newly established joint venture between Planet Farms and Swiss Life Asset Managers – part of European insurance and asset management group the Swiss Life Group – with an initial capital endowment of €200 million (£169.9 million).
Projects across Europe and Asia
The joint venture will develop multiple facilities across EMEA, replicating the Cirimido technological blueprint, including projects currently under development in the UK and Scandinavia.
Luca Travaglini, chairman and chief technical officer of Planet Farms, said: “Reliable supply chains are mission critical to our customers and this partnership allows us to deploy the infrastructure to structurally address topical issues, including climatic volatility, a shifting global trade landscape, and sustainability.
“Compared to traditional agriculture, our process will continue to reduce water consumption by 95% and soil consumption by 93%, while ensuring total control over quality, safety and traceability.”
Planet Farms will continue to provide all know-how relating to engineering, software, robotics and agronomy that is required to develop farms and optimise operations.
End-to-end automation
The industrial-scale, end-to-end automated facilities will serve large retailers, foodservice operators and global companies in the specialty food sectors, beverages, beauty and cosmetics sectors, strengthening their strategic supply chains and protecting them from geopolitical, climate and logistical risks.
Carlo Forattini, senior investment manager value-add infrastructure at Swiss Life Asset Managers added: “Controlled environment agriculture (CEA) infrastructure is establishing itself as the essential modality to produce essential food, becoming mission-critical for its direct and indirect customers.
“This is validated by strong infrastructure characteristics, such as strong cash flow stability, long-term agreements, asset heaviness and increasing regulation. We are excited to work with Planet Farms Holding management to continue capitalising on the business’ strong growth potential and to be the architect of a new infrastructure sub-vertical.”
Initial production at the new UK site is planned for 2027. Planet Farms began supplying Waitrose stores in the United Kingdom as of April 30th with a range of Planet Farms branded salad SKUs, and is looking to announce another major retail partnership in the near future.
Meanwhile, Rodda’s has secured a £4.5 million funding package from HSBC UK to support the expansion of its manufacturing capabilities and upskill its staff.
