The future of vertical farming is shrouded in both promise and peril. The technology presents the hope of slashing food safety concerns, aging populations, and potential environmental collapse. It simultaneously presents a hard row to hoe – as companies that can drive down unit economics to an affordable level will be the ones to reap the most benefits.
Upward Farms closed its doors due to financial constraints, but it is notable for being one of the first sustainable farms in Northeastern Pennsylvania. The site will now be reused for new agricultural endeavors.
Vertical farming is a growing trend that is raising eyebrows and bringing concern from some. The idea of producing food indoors in a controlled, environment has many proponents, but it also takes time, money and expertise to make it work. These are the founders of Vertical Farming Solutions (VFS), who faced these challenges head on and emerged as an Initial Public Offering (IPO) success story. Their story offers encouragement to those considering this form of agriculture as an alternative to traditional farming practices.
It is understandable why some potential backers may be hesitant to invest in unproven technology. After all, the market has been tough for tech startups recently, and there is a long runway required to achieve success. However, if the team behind the technology has a good idea and they are able to execute it well, there is a good chance that they will be able to create something truly valuable that people will want to use. Ultimately, it takes more than just an interesting idea to make an impact in today’s market-backed economy; it takes hard work and perseverance as well.
The Upward Farms team is sad to see the project come to a close, but they’re excited about their future plans. While the company is shutting down, a small portion of the team will continue working on projects that will continue to improve our understanding of microbiomes. In the coming months, we’ll learn more about what these future projects entail.
Essentially, what the Upward team has done is created a new way to produce food using drones. With this technology, it is possible to grow crops in a variety of different locations, which could provide some relief to the ever-growing population problem. Although it still has a ways to go before becoming mainstream, this technology holds great potential and could soon become an essential part of the food supply chain.
