The Mexico City-based company announced that it has opened a new facility that will quintuple its production capacity and create 500 new jobs.
“Let’s do more with less,” reads Rising Farms’ website. The company says its approach to “high-tech indoor farming” can produce up to 30 times the yields of traditional outdoor “open farms” while using 90% less water and operating year-round.
In addition to its commitment to sustainability, the company also focuses heavily on the community-driven nature of its operations. One of the company’s main focus areas is “local impact,” as it says it aims to “use a thriving business to impact the local community and contribute to ending the world’s climate crisis.”
Indoor farming, often called vertical indoor farming because most facilities grow crops vertically, can help the planet — and the bottom line. Indoor farms require less water and land than traditional outdoor farms, and their ability to be set up anywhere can drastically reduce pollution and costs related to transportation.
Analysts project significant growth for the industry over the next several years, with the potential to reach a market value of $171.12 billion by 2026.
Financial services firm Accenture said indoor farming is “good for business & the planet.” A panel including Accenture’s Global Agrochemicals Lead and its Controlled Environment Agriculture Lead wrote on the company’s blog that “the potential of VIF to address increasing food demand, water scarcity, consumer sustainability preferences, and climate change is enormous.”
In discussing Rising Farms’ expansion, the company’s chairman and CFO, Pablo Ricaud, noted the tremendous business impact of the move, along with the benefits for the community in which the improved facilities will operate.
“Not only are we able to increase our capacity to provide the highest quality hydroponic vegetables,” he told farming site HortiDaily, “but we are also able to bring highly skilled jobs to our communities, something that makes us very proud.”
Despite current jitters in the global economy, Rising Farms says it expects to realize both the job growth and expanded capacity of its expansion in the first half of 2023.
In an effort to be as efficient as possible, Rising Farms has also been working with artificial intelligence company Blue Radix on the expanded facility, which it is calling Rising Park 1. The Dutch company is helping to improve aspects of farming like irrigation, nutrition, and ventilation.
“We are happy to start at Rising Farms’ newest location with Crop Controller, our AI-driven solution for autonomous growing”, Blue Radix CEO Ronald Hoek said on his company’s website. “We are proud to be part of the great ambition of Rising Farms and that we can contribute to the success of the company.”
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