IGS Secures £22.5 Million Funding to Revolutionize UAE's Food Security with Giant Vertical Farm

 



In a significant move to enhance food security in the United Arab Emirates (UAE), Intelligent Growth Solutions (IGS) has successfully secured £22.5 million in a Series C equity round. The funding, backed by investors such as COFRA Holding, DC Thomson, S2G Ventures, and Ospraie Ag Science, will be utilized to construct a colossal 900,000-square-foot vertical farm in partnership with Dubai-based ReFarm. The initiative aligns with the UAE's ambitious goal to reduce its dependence on food imports, which currently account for more than 80% of its consumption.

The massive vertical farm, unveiled at the recent COP28 climate summit in Dubai, aims to replace 1% of the UAE's food imports, contributing significantly to the nation's food sustainability. Beyond food production, the facility is set to make a substantial impact on environmental sustainability by recycling a staggering 50,000 tons of food waste. This groundbreaking project not only addresses crucial food security concerns but also exemplifies the integration of cutting-edge agricultural technology to create a more sustainable and resilient food supply chain for the UAE.

The collaboration between IGS and ReFarm signals a paradigm shift towards innovative farming practices, highlighting the increasing global importance of vertical farming in addressing food security challenges. As the UAE takes strides towards self-sufficiency in food production, this venture serves as a beacon for other nations to explore technology-driven solutions for a more sustainable and secure future.

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