AeroFarms is perhaps the original indoor vertical farming company of the modern age, having been founded over 17 years ago in 2004. AeroFarms claims to achieve up to 390 times greater efficiency of production per square foot annually versus traditional field farming.
AeroFarms was founded by David Rosenberg, Ed Harwood, and Marc Oshima in 2004. David Rosenberg currently serves as Chief Executive Officer of the company. Marc Oshima serves as Chief Marketing Officer. Final founder Ed Harwood passed away in July of 2021. He had invented the original concept of AeroFarms technology in 2004, and from 2004 to 2009 the company was referred to as Great Veggies. The company was subsequently rebranded as AeroFarms in 2009.
AeroFarms is one of the first private vertical farming companies to have gone public, which occurred in 2021. The $317 million dollar cash infusion valued the company at $1.2B. The stock currently trades under the ARFM ticker on the NASDAQ.
AeroFarms lists Whole Foods Market, ShopRite, Baldor Foods, Amaon Fresh, and Fresh Direct as customers. As of the beginning of 2022, the company will have about 100,000 sqaure foot of production space, which increase by about 2.3x with the opening of their most recent facility to 236,000 square feet of production space. Public records show the revenue of AeroFarms to be approximately $4M. This is equivalent to about $40 of revenue /sq ft per square foot per year. This would project the companies revenue capability to be approximately $10M upon completion of their new facility in 2022, yield improvements and other factors assumed to be unchanged.
AeroFarms' first commercial location, 30,000 square feet, was previously used as a paintball and laser tag course and is located in Ithaca, New York. Their 2nd location opened in 2016: a 70,000 facility in Newark, New Jersey. Their most recent location is located in Danville, Virginia, and is expected to open in Quarter 2 of 2022. This most recent facility is 136,000 square feet, and is branded as the "Model 5" farm, representing the 5th iteration of AeroFarms' proprietary growing system.
Are you interested to learn more about Plenty and other vertical and indoor farming companies? Be sure to join our newsletter of over 5,000 subscribers across the vertical and indoor farming industries.
To subscribe, enter your email in the form below!
This interview details Adept-Ag, an indoor farming technology company based in the United States. The interview is with Graeme Dergousoff, CPA, Vice President, Aftermarket Sales & Support of Adept-Ag. To learn more about Adept-Ag and other indoor farming technology companies, click on this link!
View Full Interview
This interview details Hexagro, an indoor farming company based in Italy. The interview is with Felipe Hernández, CEO & Lead design of Hexagro. To learn more about Hexagro and other indoor farming companies, click on this link!
View Full Interview
This interview details Orlar, an indoor farming company based in Vietnam. The interview is with Jacquie O’Hara, CEO of Orlar. To learn more about Orlar and other indoor farming companies, click on this link!
View Full Interview
This interview details FarmBox Foods, an indoor farming company based in the United States. The interview is with Chris Michlewicz, VP of Public Relations and Communications of FarmBox Foods. To learn more about FarmBox Foods and other indoor farming companies, click on this link!
View Full Interview
This interview details Raiz Vertical Farms, an indoor farming company based in Portugal. The interview is with Emiliano Gutiérrez, Co-Founder & CEO of Raiz Vertical Farms. To learn more about Raiz Vertical Farms and other indoor farming companies, click on this link!
View Full Interview
This interview details Beanstalk, an indoor farming company based in the United States. The interview is with Mike Ross, Co-Founder & CEO of Beanstalk. To learn more about Beanstalk and other indoor farming companies, click on this link!
View Full Interview
This interview details AmplifiedAg, an indoor farming company based in the United States. The interview is with Don Taylor, CEO of AmplifiedAg. To learn more about AmplifiedAg and other indoor farming companies, click on this link!
View Full Interview
This interview details Farmacy HK, an indoor farming company based in Hong Kong. The interview is with Raymond Mak, Co-founder & CEO of Farmacy HK. To learn more about Farmacy HK and other indoor farming companies, click on this link!
View Full Interview
This interview details Canobi AgTech, an indoor farming technology company based in Canada. The interview is with Robin Vincent, Founder of Canobi AgTech. To learn more about Canobi AgTech and other indoor farming companies, click on this link!
View Full Interview
This interview details Farmtastica, an indoor farming technology company based in Chile. The interview is with Eduardo Vasquez, CTO of Farmtastica. To learn more about Farmtastica and other indoor farming technology companies, click on this link!
View Full Interview
.png){kind=logo}
