GrowUp secure £100m funding for Kent vertical farm

Generate Capital have invested £100m in the construction of a low carbon indoor farm in Kent.

Vertical Farming firm, GrowUp, secured the financial injection and will begin construction on a vertical salad farm in Sandwich, Kent.

“We’re thrilled to partner with the expert and innovative team at GrowUp to accelerate sustainable vertical farming infrastructure in the British market,” said Dr Erich Becker, head of Generate Capital Europe. “Low-carbon vertical farming is a much-needed development and we are pleased to be working to accelerate it across Europe and North America.”

The renewable energy system utilised at the indoor food producer will use 95% less water than conventional farming methods. The indoor grown produce will, state GrowUp management, save up to three million lorry miles per year by avoiding imports.

Vertical farming is a growth industry in the UK. GrowUp claim the facility will be the first in a series of large, low-carbon indoor farms servicing UK markets.

Their technology results in fresher produce reaching supermarket shelves faster, having been grown in a more environmentally sustainably manner: Thereby making redundant the idea of in or out of season produce.

“Our team has worked hard to solve the challenges that kept vertically farmed salads from being cost-competitive and sustainable,” said GrowUp MD Marcus Whately.

“We partnered with Generate Capital because of their long-term focus on both sustainability and economic efficiency, and together we can now bring this model to scale.”

Such facilities will, added GrowUp co-founder, Kate Hofman: “help the business withstand the mounting environmental and economic pressures, from inflation to the transport, labour and commodity costs that have challenged the fresh produce sector.”