OneFarm raises £7.5m and accelerates process to first harvest

OneFarm, the vertical farming company growing leafy greens and herbs announces completion of the initial funding requirement for the first phase of its 70,000sq ft farm in Newmarket, Suffolk.


The £7.5m raised will fund the construction, equipment and fit-out of the first seven, nine-metre-high controlled environment growing towers, enabling the first harvest to be brought forward to Q4 this year.


Commenting on the achievement CEO Mira Merme said :


“Although we have further to go to fund the complete project, we are delighted to have reached the level where we can build the first phase and create the exacting conditions for growing our fresh produce. It means we can focus more of our efforts on constructing the farm, growing our much needed produce and finalising discussions with retailers and catering companies, who will be our first customers.


As we have been saying for some time, the food supply situation in the UK and around the world continues to deteriorate. Fresh, healthy, tasty food with proper environmental credentials needs to be grown and sourced locally. We have an ambition to do this at scale thereby helping to reduce the UK’s reliance on imported greens, herbs and vegetables.”


ENDS


For further information, contact:


Mark Edwards Mark@flagstaffcomms.com

+ 44 7801 480 322


Our Debenture Offer is open to all investors - capital at risk: https://www.abundanceinvestment.com/invest-now/onefarm

Approver Abundance Investment. FRN 525432


One Farm raises £7.5m & accelerates first harvest