Foresight Group, the listed sustainability-led alternative investment manager, is pleased to announce it has reached an agreement with Harvest London, a UK-based controlled environment agriculture company, to aid the expansion of the vertical farming industry.
The investment will allow Harvest London to expand its current operations, enabling it to supply a range of salads and herbs to customers in London and beyond. The company currently operates a farm in East London, which has been producing crops since 2020. Harvest London and Foresight have secured a 140,000 square feet (13,000m2) unit in Beddington, South London, and are developing a vertical farm for that space.
The expansion of Harvest London’s production capacity, supported by Foresight, is driven by the increasing need for locally-grown produce and strong positive feedback from Harvest London’s existing customers. It will allow the grower to expand into critical retail markets.
Commenting on the announcement, Matt Hammond, partner at Foresight, said: “Foresight is delighted to be working with Harvest London, a dynamic and growing company that will help the vital push towards a greener future for food production. This approach to farming will play a pivotal role in shaping a more sustainable future and meeting the country’s food needs. The next expansion phase will positively impact job creation and stimulate the local economy.”
Chris Davies, the founder of Harvest London, added: “This investment is a sign that the vertical farming sector in the UK is maturing. While you might not yet have tasted something grown on a vertical farm, in the future, this type of produce is going to be on your menu, whether that’s from a supermarket, in prepared food, or eating out. Vertical farming is a technology that can complement British agriculture, helping us reduce our reliance on food imports and give consumers fresher, more local ingredients. We want to make the UK a world leader in this exciting new industry.”