Private equity firm, KKR & Co. is investing $100 million in UK-based Sundrop Farms Holding Ltd which specialized in using innovative technologies to grow food where land is too arid for farming and food security is unstable. Sundrop Farms is using solar panels to desalinate water, produce electricity, and provide heat to grow vegetables in vast greenhouses in South Australia. KKR & Co.’s investment will fund the expansion of Sundrop’s existing operation with the construction of a 20 hectare (50 acre) greenhouse that will produce more than 15,000 tons of vegetables per year, and will enable Sundrop Farms to expand geographically into the Middle East, North America and other markets. Sundrop will also receive some funding from the Australian government, and has contracted with Australian supermarket operator, Coles, to supply the chain with tomatoes as of 2016.
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