Fischer Farms, the company behind the world’s largest vertical farm, has received a multi-million-pound investment from Gresham House plc, a Sustainable Infrastructure investment specialist with over £6.5bn in AUM.
Through its BSIF strategy, Gresham House has invested an additional £26 million to support the construction of Fischer Farms’ second UK-based vertical farm. The new site focuses on food production with “scalability, resilience and sustainability”.
Based in Norfolk, the farm will offer 25,000 m2 of vertically stacked growing space, providing the capacity to supply 6.5 tonnes of leaf salad, leafy herbs, and other fresh produce to UK supermarkets every day.
By maximising the use of land, Fischer Farms says the 4-acre vertical farm will grow the same amount of food as 1,000 acres of conventional British farmland, using up to 98% less water, without pesticides, herbicides, or insecticides, and with “no impact” on the surrounding countryside.
Powered by 100% renewable energy, the revolutionary vertical farm will produce the freshest, longest lasting, safest, most consistent, and highest quality British-grown produce all year round.
The site is set to open in winter 2022. In the next decade, Fischer Farms plans to scale its operations and reduce its cost base to grow soya beans, rice, and wheat in significant volumes, at costs that compare favourably to global farming prices.
The funding from Gresham House will also enable Fischer Farms to employ, train and upskill a specialised labour force.
Tristan Fischer, Founder and CEO of Fischer Farms, said: “We are thrilled to have secured the backing of such a well-respect firm and it is fantastic to see investors recognising the potential and value of vertical farming.
“This investment demonstrates the confidence that Gresham House has in this revolutionary form of farming, and we look forward to working together in the coming years as we scale-up our operations to create a more responsible and sustainable food supply chain.”
Peter Bachmann, Managing Director of Sustainable Infrastructure at Gresham House, added: “The technology, skills, and expertise that Tristan and the Fischer Farms team bring to this vital sector will make a real difference to people’s lives and the environment.
“At a time of unprecedented global food and commodity prices, investing in the future of sustainable farming is appealing for so many reasons, and we are confident this commitment will help Fischer Farms to shape the fresh food production industry for decades to come.”
