US Startup Plenty, Alpha Dhabi Plan $680 Million Vertical Farms
- First farm to produce 2 million kg of strawberries annually
- The companies plan to build five more farms in the region
The company's headquarters in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
US farming startup Plenty Unlimited Inc and a unit of United Arab Emirates’s Alpha Dhabi Holding PJSC are targeting $680 million of investments over the next five years to develop farms in a region which imports a majority of its food requirements.
Plenty and Alpha Dhabi’s unit Mawarid plan to develop their first indoor vertical farm to produce strawberries in Abu Dhabi at a cost of over 500 million dirhams ($136 million), according to a statement Thursday. It will have the capacity to produce over 2 million kilograms of the fruit annually from 2026.