In 2015 the big new thing was vertical farming. “Vertical farming is going to feed us all” was the big promise of the technology. But it never really happened. And, is falling further and further behind on its promise as construction, energy, and repro material prices continue to rise. Unlike traditional agroculture vertical farms need cheap electrical energy to run the pumps that are at the heart of the technology. Indoor vertical farms spend around 60% of their revenue on electricity costs. According to Crunchbase, Indoor farming startups burned around a billion of venture investors’ money in 2022.
The downfall of Vertical farms
The downfall of Vertical farms
The downfall of Vertical farms
In 2015 the big new thing was vertical farming. “Vertical farming is going to feed us all” was the big promise of the technology. But it never really happened. And, is falling further and further behind on its promise as construction, energy, and repro material prices continue to rise. Unlike traditional agroculture vertical farms need cheap electrical energy to run the pumps that are at the heart of the technology. Indoor vertical farms spend around 60% of their revenue on electricity costs. According to Crunchbase, Indoor farming startups burned around a billion of venture investors’ money in 2022.