March 22, 2023

By Lynda Kiernan-Stone, Global AgInvesting Media

Alternative investment manager Foresight Group has forged a strategic partnership with UK-based controlled environment agriculture (CEA) company Harvest London for the expansion of vertical farming in the country. 

Founded in 1984, and now operating across seven countries in Europe and Australia, with AUM totaling £12.3 billion (US$15 billion), Foresight has a long-established focus on ESG and sustainability, managing more than 350 infrastructure assets throughout the solar, onshore wind, bioenergy, waste, renewable energy, energy efficient management solutions, and sustainable forestry spaces. 

The manager stated that amid growing concerns about the security and sustainability of our food systems, new production methods are needed to reduce the negative environmental impacts of food production, including supply chain emissions, land and water use, and soil degradation. 

This investment in Harvest London joins previous investments made by Foresight in greenhouses in the UK and a land-based sustainable aquaculture farm in Norway. 

“Foresight is delighted to be working with Harvest London, a dynamic and growing company that will help the vital push towards a greener future for food production,” said Matt Hammond, partner, Foresight. “This approach to farming will play a pivotal role in shaping a more sustainable future and meeting the country’s food needs.”

Harvest London was launched in 2017 by Chris Davies and Matt Chlebek, and over the course of its short existence has already established two farms growing more than 100 different crops using hydroponic vertical farming technology. It also has created partnerships with brands including Pizza Pilgrims and Compass Group. 

Positive feedback from existing customers and a growing demand for locally grown produce are two of the drivers behind Harvest London’s decision to expand capacity and Foresight’s support of the project. 

Together, the partners have secured a 140,000 square-foot property in Beddington, South London, where they plan to develop a cutting-edge vertical farm able to supply a range of salads and herbs to customers in London and beyond. 

“The next phase of expansion will positively impact job creation and stimulate the local economy,” commented Hammond. 

A report by the International Trade Administration last published in September 2022 outlines how 46 percent, or nearly half of all food consumed in the UK, is being imported. The promotion of vertical farming in the country will not only create greater food security, but will also eliminate the emissions from international transportation along with the soil and water degradation associated with in-field production. 

“This investment is a sign that the vertical farming sector in the UK is maturing,” noted Chris Davies, founder, Harvest London. “While you might not yet have tasted something grown in a vertical farm, in the future this type of produce is going to be on your menu, whether that’s from a supermarket, in prepared food, or eating out.”

Davies continued, “Vertical farming is a technology that can complement British agriculture, helping us reduce our reliance on food imports, and give consumers fresher, more local ingredients. We want to make the UK a world-leader in this exciting new industry.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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