Posted on Mar 6, 2022
Next to the last steel mill in town, a robotic farm grows backed by Pritzker billions
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"Next to the last steel mill in the poor industrial town of Braddock along the Monongahela River just nine miles from Pittsburgh’s U.S. Steel Tower, a vertical farming business backed by billionaire Nicholas Pritzker’s Tao Capital is sprouting as an agritech innovator."
Next to the last steel mill in town, a robotic farm grows backed by Pritzker billions
Posted from cnbc.com
Robots
Farming
Pittsburgh
Posted 2 y ago
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LTC Eugene Chu
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“Our smart manufacturing facility improves the yield, taste and texture of the vegetables, and does that with 95% less water, 95% less land, and uses no pesticides or chemicals,” said Webb, who is 33. Fifth Season’s automated proprietary system grows fresh produce year-round indoors in vertical trays, relying on artificial intelligence, robotics and data to control light, water and nutrients, and harvest leafy greens.
Hydroponics is growing quickly as food source
Currently less than 1% of fresh produce is grown through hydroponics systems versus open-field agriculture, but this segment is forecast by Mordor Intelligence to grow by nearly 11% yearly to about $600 million by 2025. “There’s tremendous runway as the price comes down and more reliable operations remove the risk,” said Brian Holland, managing director of Cowen & Co. in New York. “It’s a race to scale with potentially multiple winners who can prove the economic model for automatic, robotic growing,” he added. “Fifth Season is more advanced, if not the most advanced, in the market in marrying technology and robotics to grow vegetables indoors at a lower cost.”...
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“Our smart manufacturing facility improves the yield, taste and texture of the vegetables, and does that with 95% less water, 95% less land, and uses no pesticides or chemicals,” said Webb, who is 33. Fifth Season’s automated proprietary system grows fresh produce year-round indoors in vertical trays, relying on artificial intelligence, robotics and data to control light, water and nutrients, and harvest leafy greens.
Hydroponics is growing quickly as food source
Currently less than 1% of fresh produce is grown through hydroponics systems versus open-field agriculture, but this segment is forecast by Mordor Intelligence to grow by nearly 11% yearly to about $600 million by 2025. “There’s tremendous runway as the price comes down and more reliable operations remove the risk,” said Brian Holland, managing director of Cowen & Co. in New York. “It’s a race to scale with potentially multiple winners who can prove the economic model for automatic, robotic growing,” he added. “Fifth Season is more advanced, if not the most advanced, in the market in marrying technology and robotics to grow vegetables indoors at a lower cost.”...
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