February 14, 2024

By Lynda Kiernan-Stone, Global AgInvesting Media

As arable land suitable for agricultural production is in finite supply, FOTONIQ views greenhouses as the future of agriculture. And as high-tech greenhouse production continues to gain ground, the company sees the need for greater sustainability and efficiency to help growers increase production. 

The intersection of greenhouse production of fresh produce and technology represents a critical and rapidly evolving field within agriculture. Technology plays a pivotal role in transforming traditional greenhouse farming into highly efficient, data-driven, and environmentally sustainable systems.

These advancements are crucial in addressing food security challenges, reducing the environmental impact of agriculture, and meeting the growing demand for fresh produce in an increasingly urbanized world.

As such, the company has developed PAR+, a patented, durable coating that provides optimal daylight conditions inside greenhouses by creating year-round diffusivity without losing grow light intensity.

The ability to distribute light conditions evenly enables light to reach lower leaves and reduce class 2 produce. It can also optimize greenhouse indoor climate, increase crop yields by 6-8 percent for eight years, generating up to €200.000 profit per hectare, and can eliminate the waste associated with seasonal coatings by replacing them with FOTONIQ’s environmentally certified PAR+. 

Partnering with FOTONIQ to advance this technology, Navus Ventures, the venture capital firm part of the office linked to Lely, and Icos Capital, a collective fund backing European food, chemical, and agricultural companies, have led an undisclosed funding round that also included  existing shareholders Phase2.earth and EG Wernink. 

“Various crop growing problems can be encountered when operating greenhouses,” said Eduard Meijer, managing director, Navus Ventures B.V.

“One of the key problems is how to create and maintain an ideal climate inside the greenhouse, which relies on factors such as the optimisation of lighting and temperature. At Navus, we believe that FOTONIQ has found a straightforward and effective solution that helps to solve this problem.” 

Launched as a spin-off from Delft University of Technology, the FOTONIQ team works closely with research institutes, industry partners, and local growers who have worked with the company to utilize this coating on several hectares of greenhouses in the Westland region of the Netherlands. And from this start, the team is looking to attract clients from the global market. 

“FOTONIQ offers an alternative to seasonal coatings or diffuse glass without making any of the concessions typically associated with those strategies,” said Peter van Gelderen, managing partner, Icos Capital.

“With long-lasting performance, the PAR+ coating can be easily integrated into existing infrastructure for a fraction of the price of diffuse glass. By applying this lower-price solution, growers can generate a bigger harvest and increase their profit with only a limited cost of investment.” 
“On behalf of the entire team, I would like to thank all our investors for their trust and support,” commented Willem Kesteloo, CEO and founder, FOTONIQ.

“The current fundraising round allows us to scale up both our production capabilities and our market roll-out. This year, we plan to apply PAR+ coating solutions on ≥30 hectares, providing our customers with a product that meets their expectations.”

~ 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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