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 conce...