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Freshbay

Vertical Farming
Product stageSegments
Seed
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Farm Operators: Hydroponics
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Founded in 2020, Freshbay is a cutting-edge agriculture company that employs vertical farming, greenhouses, and sustainable energy resources to cultivate a diverse range of fresh herbs, strawberries, and tropical fruits throughout the year. The company's objective is to utilize the potential of geothermal energy to establish optimum growing conditions for its crops.

The company uses geothermal energy to provide the ideal growing conditions for its crops. The company’s greenhouses and vertical farming systems ensure the produce is grown in a controlled environment, free from harmful pesticides and chemicals.

Freshbay announced in February 2023 that a 19-acre controlled environment agriculture (CEA) plant powered by deep earth geothermal energy would be opening in Hinton, Alberta, in January 2024. Novus Earth Energy would serve as a strategic partner in the management of geothermal well drilling, installation, and maintenance. F&G Strategic Partners would provide a capital debt facility, and Canada Banana Farms would oversee fruit cultivation. According to the company, this would be the first US project to harness deep-earth geothermal energy for mass production in remote regions. 

Key customers and partnerships

In June 2023, the company partnered with Affinor Growers for the installation of 17,530 vertical hydroponic towers, 34 polycarbonate Atlantis greenhouses, and an automated irrigation and fertilization system at its Alberta site. In July 2023, Freshbay partnered with Novus Earth to leverage Novus Earth's geothermal technology at Freshbay's geothermal controlled environment agriculture (GeoCEA) facility outside of Hinton, Alberta.


Vertical Farming

Vertical Farming

Key stats
Featured companies
103
Total funding (USD)
5.7 Bn
Total addressable market (USD)
36.4 Bn
Key competitors
 
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Recent Updates

Partnerships
Jul 7, 2023
Freshbay partners with Novus Earth for geothermal technology
Vertical Farming
Partnerships
Jun 20, 2023
Freshbay partners with Affinor growers for geothermal agriculture project
Vertical Farming
Product updates
Geographic expansion
Feb 9, 2023
Freshbay to open a new facility in Alberta
Vertical Farming

Company Brief


HQ location:
Calgary AB CAN
Founded year:
2020
Funding data are powered by Crunchbase
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