KEY POINTS
- Currently less than 1% of fresh produce is grown through hydroponics systems versus open-field agriculture, but this segment is forecast by Mordor Intelligence to grow by nearly 11% yearly to about $600 million by 2025 and Walmart has invested $400 million in Plenty Unlimited.
- Vertical farming start-up Fifth Season is backed by billionaire Nicholas Pritzker’s Tao Capital and planning to disrupt the $60 billion U.S. produce market through food partners include Sabra, Kroger, Shoprite and Giant Eagle.
- “The tech multiplier doesn’t lift all boats but it is spreading in the heartland,” says Congressman Ro Khanna of Silicon Valley.
- See CNBC article on Pittsburgh startup Fifth Season
by Rebecca Fannin
