News and Announcements
E Agri ready to build Melbourne’s first indoor vertical farm
- Published December 18, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Partnership in place with Chisholm Institute and Agriculture Victoria to start building in early 2019
- E Agri has received a $500,000 grant from Agriculture Victoria for its global-leading indoor vertical farming technology
- $1m raised in 2018, ready to close a US$5m funding round
- Opportunity to develop major site off Singapore with US$200 billion MNC
- Letter of intent signed with Huarong Securities to develop US$250+ million China business
- Patents have been applied for in 14 different markets
E Agri is an Agri-Technology company that has developed a market-leading IoT-driven modular indoor vertical farming technology. The HeadCo is Singapore registered, and is currently raising US$3.5m – US$5.0m.
The companies IoT-driven system enables year-round growing of leafy green vegetables. Produce is grown in a fully-controlled climate using LED lighting and CO2.
The system is capable of producing over 350kg/m2 p.a. An E Agri facility is 30 times more productive than traditional growing.
E Agri’s control systems automates the process from seedling through to harvest. They believe it is the most advanced and efficient system on the market.
The companies facilities can be strategically located on the fringe of cities close to distribution centres or food processing facilities. The investment payback on new facilities is under 3 years.
E Agri has a flexible country-licencing model which allows markets to be developed with local partners with greater expansion capability (with option to invest directly into preferred markets). Base Case investor cash-on-cash returns are 35 times.
About E Agri Pte Ltd
E Agri has developed an automated, modular vertical cropping system for growing leafy green vegetables and herbs – disrupting food supply chains for high-density city environments. Following a successful pilot facility, E Agri is preparing to build two showcase facilities in Melbourne and Jiangsu Province and a test facility in Singapore over the next four months,
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