In early March the Clarion Invest development team went to visit a new prototype vertical farming company and met with senior management and staff of new ‘budding’ agri-tech company, Innovation Agri-Tech
The company has positioned itself firmly at the forefront of a blooming new vertical farming technologies market which is set to be a prominent field of future agricultural solutions.
Innovation Agri-Tech Group (IAG) is a British agricultural technology company providing cutting-edge solutions to the traditional challenges of farming. The company specialises in Indoor Vertical Aeroponics.
IAG offers patented technologies and expert services to help growers improve and expand their vertical farming systems or build new vertical farms from scratch, as well as full-service solutions including the design, installation and ongoing management of a complete vertical farm. It is also in the process of completing its own vertical farm facility in Berkshire.
The company has developed a new patented vertical farming technology called GrowFrame. The technology can harness integrated automated software to maximise crop productivity and growth.
The modular and scalable design can be installed anywhere from a single shipping container to industrial size warehouses. A closed loop irrigation system recycling water uses up to 95% less water than conventional farming and 70% less than hydroponics technology.
So, what is indoor vertical farming?
Indoor vertical farming is a common method of growing produce in an indoor environment with carefully controlled conditions and specially designed lighting.
It takes precision farming to its natural next stages by maximising all the resources surrounding it for efficient and sustainable output. By doing this, producers can maximise both yields and the value of space. The implication of this is large profitability potential.
Vertical farming has the potential to repurpose existing infrastructure and can be deployed and utilised efficiently in environments such as; unused factories, skyscrapers, office buildings or other suitable resources.
IAG owns three registered US patents for its Aeroponic systems and enclosures. It also has a partnership with Co-Alliance Cooperative, one of the largest agribusinesses in the Midwestern USA, with over 56,000 farming operations, giving it significant transatlantic reach.
Although the British market lags behind the US, indoor farming is now seeing a significant spike in interest and funding in the UK. Blue-chip companies like Ocado are investing £17 million in the space, and the British government has committed to spending £90 million to the Transforming Food Production Challenge.
IAG is scaling up its operations, team and product & service offerings. The company expects to increase its sales and revenues via strategic partners as it expands both in the UK and internationally.
By making use of Co-Alliance Cooperative’s supply chain and distribution capabilities, IAG hopes to dramatically enhance its revenues from the US market.
IAG both develops and markets its own technologies to growers and grows & sells its own fresh produce – the company is perfectly placed to take advantage of both types of growth opportunity.
Meeting with IAG was an incredibly eye-opening experience. The technologies are something from a sci-fi movie, but their applications are very real and helping to aid the development of solutions for the ever increasing demand of produce worldwide.
The company is certainly courting some very interested parties from the forefront of green venture capital. So far it has made significant strides in raising it’s initial round of funding. It’s partnership with Co-Alliance Cooperative saw the company acquire a 15 percent stake holding in IAG and as of December 2021 the company has just recently been valued at £75million on an Enterprise Valuation.
Watch the company’s introductory video below:
Initial forecasts for the company look very promising and all the Clarion team are incredibly positive to be involved with such an exciting new technology.
The visit was fun and informative, all the team were incredibly knowledgeable and provided a clear understanding of the businesses objectives over the longer term.
See the full gallery of pictures from the visit below:
For more information about the company and their initial investment offering to prospective investors do not hesitate to contact us directly and request an information pack.