• Bowery Farming, which sells greens and herbs to local restaurants and grocery stores as well as via online channels, has opened a new vertical farm in Bethlehem, Pennsylvania. 

• The farm, which was built on a former steel manufacturing facility in Lehigh Valley Industrial Park VII as part of a larger redevelopment project in partnership with the Commonwealth of Pennsylvania, is reportedly the largest and most technologically advanced farm in Bowery Farming’s network to date.

• The new farm is powered 100% by renewable energy and features the latest technologies such as AI, robotics, and its proprietary BoweryOS control software. It also features a 15% more efficient LED lighting system and state-of-the-art water recapture and filtration systems, resulting in an overall increase in speed and efficiency of farm operations.

• The farm will serve a population of 50 million people within a 200-mile radius via the company’s regional retail partners such as Whole Foods Market, Giant of Landover, and Albertsons Companies and ecommerce partners such as Amazon Fresh. Bowery Farming will also supply independent and specialty grocery stores via its local distribution partner Four Seasons Produce. The company will also donate fresh produce to the Lehigh Valley community via Second Harvest Food Bank.

• As of date, Bowery Farming serves over 1,000 stores across the US and operates three vertical farms across New Jersey and Maryland in addition to the Pennsylvania farm. The company reports that it expects revenue to continue to grow by 2x in 2022 as well, with plans to also double its number of farms in operation by 2023.

Analyst QuickTake: Bowery Farming is the second-highest funded startup in the vertical farming space (USD 647 million) after Plenty (USD 941 million). With four farms in operation and two more under construction, the company is ahead of its closest peers such as Plenty (three farms), Square Roots Urban Growers (four farms), and Kalera (five farms).