ONEFARM LAUNCHES DEBENTURE OFFER TO FUND THE BUILD OF ONE OF THE LARGEST INDOOR VERTICAL FARMS IN THE UK
OneFarm, the UK based vertical farming company, announces the launch, through Abundance, the ethical investment crowdfunding platform, of a tradeable Debenture Offer to raise a minimum of £4.0m and up to £6.7m to fund the build of a large scale indoor vertical farm in Newmarket, Suffolk.
Key Points on OneFarm
· The regulated Debenture forms part of a funding package totalling £14.2m
· OneFarm will utilise innovative technology that provides one of the most efficient, flexible and environmentally friendly forms of crop production at scale
· The funding will enable 6,400sqm of vertical growing space to be constructed.
· Around 400 tonnes of vegetables and herbs including lettuce, spinach, rocket, basil and coriander as well as high value and very tender micro versions of broccoli and kale, to be grown every year.
· Produce is grown 365 days a year and harvested when ripe
· Produce is monitored continuously in airlocked towers so it can be grown pesticide free. It therefore does not require washing, enabling a far longer shelf life.
· Through advanced LED technology and modulated crop exposure OneFarm expects energy usage to be 50% less than other vertical farms.
· Phase 2 of the operation will add another 6,600sqm of growing space, giving a total of 13,000sqm providing approximately 1,000 tonnes per annum of vegetables, herbs, and microgreens.
Key Points on the Debenture
· Investors will earn 9% a year before tax and capital repayments over the life of the 7 year debenture
· The Debenture is open to all investors, private, corporate or institutional
· The Offer is open from 08 March 2022 to 30 April 2022.
· Further details about the Debenture Offer and Abundance are available at https://www.abundanceinvestment.com/invest-now/onefarm
· Approver Abundance Investment. FRN 525432
The site
Our first farm will be located in an existing warehouse in an industrial estate close to Newmarket in Suffolk. The site has been selected due to its proximity to large population centres in East Anglia and London and the customer and retail hubs that support them.
The building covers approximately 6,529m2 (just under the size of a football pitch) and will be able to house a vertical farm with a maximum 13,000m2 growing area.
The warehouse has recently been renovated and fitted with solar panels, which will provide part of the electricity to power the warehouse within which our indoor vertical farm and offices will sit. We have worked with UK Power Networks, the distribution network operator, to get approval to upgrade the grid connection at the site. The upgrade works should complete by October 2022 and enable us to purchase 100% renewable energy for our electricity requirement.
Commenting on the launch, OneFarm CEO, Mira Merme, said: "After 5 years of intensive agri research, scientific investigation, and taste trials it is wonderful to finally launch our funding offer. We are very excited to embark on our mission to produce and sell to local populations a secure, affordable, nutritious, environmentally sustainable and most of all an utterly delicious food supply that can meet all year-round demand."
For further information, contact:
Mark Edwards
Mark@flagstaffcomms.com
+ 44 7801 480 322