Vertical Farming Has Found Its Fatal Flaw
24th December 2022
It needs reliable cheap electricity.
IN JUNE, A vast new vertical farm opened on the outskirts of the English town Bedford. At a swanky opening event, members of the UK Parliament heard that the gleaming facility would one day produce 20 million plants annually. It was the latest opening for Infarm, a European vertical farming company that had raised over $600 million in venture capital funding, promising a future where vegetables are grown in high-tech warehouses stacked with LED lights rather than in open fields or greenhouses.
But now the future of the Bedford farm looks less than gleaming. On November 29, Infarm’s founders emailed its workforce to announce they were laying off “around 500 employees”—more than half of the workforce. The email detailed the firm’s plans to downsize its operations in the UK, France, and the Netherlands, and concentrate on countries where it had stronger links to retailers and a higher chance of eventually turning a profit. In September, Infarm had already laid off 50 employees, citing a need to reduce operating costs and focus on profitability.