- Mike O"Mara
Walmart Betting on Vertical Farming
The world's largest retailer is pushing their chips into the internal grow house space. Walmart recently participated in a funding round for Plenty Unlimited. Walmart referred to the space as “a new era of agriculture” that, he said, “offers pesticide-free, peak-flavor produce to shoppers every day of the year.” No need to worry about a sudden wind chill in these controlled climates where data controls weather.
Walmart's investment should not come as a surprise as food security is becoming extremely important particularly given the atrocities currently unfolding in Ukraine and the general shortage of fertilizer across the globe. The North Country Growers OZ Fund is building two 10-acre greenhouses in Berlin, NH which will provide fresh produce to New England and surrounding areas. Currently, New England imports over 95% of produce from far away areas such as California or Mexico.
The article from Forbes can be accessed at this link below.