Greenhouse
80 Acres Farms winds down after a sale collapses, a fresh test for vertical-farm finance
The Ohio-based vertical-farming company has closed after an acquisition fell through and no other capital could be found. It had raised about US$390m and supplied more than 18,000 shops.
80 Acres Farms, the Ohio-based vertical-farming company that supplied produce to more than 18,000 retail locations across the United States, is winding down operations after failing to secure the capital it needed to keep going. A planned acquisition fell through on the evening of 2 August, and the company said it had no other funding available. It had raised about US$390 million over roughly ten years, and it filed layoff notices in seven states.
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