Kalera Announces Newest Vertical Farming Facility to Open in St. Paul, Minnesota

Rhea-AI Summary

Kalera, a leading vertical farming company, announced the acquisition of a facility in St. Paul, Minnesota, which will be converted into a hydroponic farm. This will be Kalera's eighth facility, enhancing its position as one of the fastest-growing companies in the U.S. vertical farming sector. The facility is set to generate around 70 jobs and will supply fresh, non-GMO produce locally, significantly reducing delivery times. This project is pending state incentive approvals.

Positive

• Acquisition of new facility in St. Paul, Minnesota.
• Expected to create approximately 70 jobs.
• Facility aimed at providing fresh, non-GMO produce to local markets.
• Project aligns with sustainability goals by using 95% less water than traditional farming.

Negative

• Final project commitments are contingent on state incentive approvals.

The new facility will provide fresh, hydroponically-grown produce to the western Midwest

ORLANDO, Fla., March 15, 2021 (GLOBE NEWSWIRE) -- Kalera (Euronext Growth Oslo ticker KAL, Bloomberg: KSLLF), one of the fastest-growing US vertical farming companies in the world and a leader in plant science for producing high-quality produce in controlled environments, today announced the purchase of a facility in St. Paul, Minnesota which they will convert to a vertical farming facility. Kalera’s Minnesota location is the eighth facility it has announced, making it one of the fastest growing vertical farming companies in the United States. This announcement comes on the heels of the news of Kalera’s appointment of Sonny Perdue, former Secretary of Agriculture and Maria Sastre to the Board of Directors, as well as its acquisition of Vindara, the first company to develop seeds specifically designed for use in vertical indoor farm environments as well as other controlled environment agriculture (CEA) farming methods.

With millions of heads of lettuce to be grown per year, Kalera’s St. Paul facility will provide a source of fresh, non-GMO, clean, living lettuces and microgreens to retailers, restaurants and other customers. Kalera’s location in the heart of the city will shorten travel time for greens from days to mere hours, preserving nutrients, freshness, and flavor. The facility will also generate approximately 70 jobs upon opening.

“I’m proud to be welcoming Kalera to St. Paul and the W. 7^th neighborhood,” said City Councilmember Rebecca Noecker, who represents St. Paul’s Ward 2. “The facility is not only bringing millions of dollars in investment into the community but is also providing jobs and importantly, increasing access to fresh, non-GMO, clean, locally grown produce.”

Kalera currently operates two growing facilities in Orlando and last week started operations in its newest and largest facility to date in Atlanta and is building facilities in Houston, Denver, Columbus, Seattle, and Hawaii. Kalera is the only controlled environment agriculture company with coast-to-coast facilities being constructed, offering grocers, restaurants, theme parks, airports and other businesses nationwide reliable access to locally grown clean, safe, nutritious, price-stable, long-lasting greens. Once all of these farms are operational, the total projected yield is several tens of millions of heads of lettuce per year, or the equivalent of over 1,000 acres of traditional field farms. Kalera uses a closed-loop irrigation system which enables its plants to grow while consuming 95% less water compared to field farming.

“Minnesotans are all too familiar with the limitations of a challenging climate,” said Daniel Malechuk, Kalera CEO. “They also take great pride in local accomplishments, so we are extremely excited to facilitate this opportunity for Minnesotans to have fresh, high quality produce year-round, grown by the locals for the locals.”

Final project commitments, including jobs and capital investment, are contingent on final approval of state incentives.

ABOUT KALERA
Kalera is a technology driven vertical farming company with unique growing methods combining optimized nutrients and light recipes, precise environmental controls, and clean room standards to produce safe, highly nutritious, pesticide-free, non-GMO vegetables with consistently high quality and longer shelf life year round. The company’s high-yield, automated, data-driven hydroponic production facilities have been designed for rapid rollout with industry-leading payback times to grow vegetables faster, cleaner, at a lower cost, and with less environmental impact.

Media Contact
Molly Antos
Phone: (847) 848-2090
Email: molly@dadascope.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d71005f3-702e-477f-9866-16a65d90bb3d

FAQ

What is Kalera's latest acquisition related to KSLLF?

Kalera has acquired a facility in St. Paul, Minnesota, to enhance its vertical farming operations.

How many jobs will Kalera's new facility create in Minnesota?

The new facility is expected to generate approximately 70 jobs upon opening.

What type of produce will Kalera grow in St. Paul?

Kalera will grow fresh, non-GMO lettuces and microgreens in the new facility.

What environmental benefit does Kalera's farming approach provide?

Kalera's closed-loop irrigation system uses 95% less water compared to traditional farming.

What must Kalera secure before finalizing the St. Paul project?

Kalera needs to obtain final state incentive approvals to commit to the project.