Big Box Retailer Makes "Significant" Investment in Indoor Farming

Rhea-AI Summary

Advanced Container Technologies (Ticker: ACTX) announced that major retailers, including Walmart, are investing in Controlled Environment Indoor Farming, also known as Vertical Farming. This method ensures higher yields with less water and land while eliminating pesticides. Walmart plans to deliver leafy greens from these farms to their California stores, addressing supply issues. CEO Doug Heldoorn emphasized that this partnership will make high-quality, affordable indoor-grown produce accessible. ACTX distributes GrowPods, essential for this innovative farming approach.

Positive

• Walmart's investment in vertical farming may lead to increased demand for ACTX's GrowPods.
• The partnership highlights the growing recognition and shift towards sustainable farming practices.

Negative

• None.

CORONA, Calif., Feb. 8, 2022 /PRNewswire/ -- Advanced Container Technologies, Inc (Ticker: ACTX), said that major companies are now investing in Controlled Environment Indoor Farming, often referred to as "Vertical Farming."

According to the New York Post, Walmart is "significantly" investing in indoor vertical farming as a way to deliver fresher produce to its stores.

These indoor farms provide "high-quality produce that brings higher yields while using less water and land," according to the Post. "The method also doesn't use pesticides, and the produce can be grown year round near the point of distribution, increasing the reliability of supply."

Walmart's investment comes as grocery stores are under pressure to have more environmentally friendly practices, and are facing unprecedented shortages and empty shelves.

Walmart said that under the deal, leafy greens will be delivered to the company's California stores and will help sustainably increase the food supply.

Controlled Environment Farms can grow more food per square foot compared to traditional farming, while using less water and land. The method also does not use chemical insect control. It also permits produce to be grown all year near transportation centers or the point of consumption, which increases the dependability of supply and lowers the carbon footprint associated with trucking food across the nation.

Advanced Container Technologies (ACTX) sells Controlled Environment Indoor Farms called GrowPods.

"Controlled Environment and Vertical Farming is quickly becoming a popular way to grow organic food close to major urban centers," said Doug Heldoorn, CEO of Advanced Container Technologies. "The perception that high-quality food grown indoors is inaccessible or expensive is about to change, as the nation's largest retailer starts filling their shelves with affordable, nutritious, and ultra-clean indoor grown greens."

Advanced Container Technologies is a leading distributor of GrowPods.

For more information on GrowPods or Advanced Container Technologies, call: (951) 381-2555 or visit: www.advancedcontainertechnologies.com.

Forward-Looking Statements
This release includes information considered "forward-looking" per securities laws. These statements represent Company's current judgments but are subject to uncertainties that could cause results to differ. Readers are cautioned to not place undue reliance on these statements. Company is not obligated to revise any statements in light of new information.

Media Contact
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View original content:https://www.prnewswire.com/news-releases/big-box-retailer-makes-significant-investment-in-indoor-farming-301477570.html

SOURCE Advanced Container Technologies, Inc.

FAQ

What investment did Walmart make regarding ACTX?

Walmart is significantly investing in indoor vertical farming to deliver fresher produce, which may increase demand for ACTX's GrowPods.

How does Controlled Environment Indoor Farming benefit the environment?

This farming method uses less water and land, eliminates pesticides, and reduces the carbon footprint by growing food near distribution points.

What is the ticker symbol for Advanced Container Technologies?

The ticker symbol for Advanced Container Technologies is ACTX.

When was the press release about Walmart's investment published?

The press release was published on February 8, 2022.

How do GrowPods contribute to sustainable farming?

GrowPods enable controlled environment farming, allowing for year-round production and reducing reliance on traditional farming methods.