• Kalera, a Norwegian hydroponic vertical farming operator, has announced that it is opening a 90,000 sq. ft. vertical farming facility in Denver, Colorado planning for the first harvest in May 2022. 

<ul><li>Kalera’s offering, which includes lettuce and microgreens, will now be available to customers across Colorado. This is the fifth farm in Kalera’s US vertical farm network. As of date, the company has one farm each in Atlanta and Houston, and two in Orlando. Outside the US, the company operates farms in Kuwait and Singapore ( to be opened in Q3 2022 ).</ul> 

• Kalera also reported that it has achieved its capacity utilization targets in its Atlanta, Houston, and Orlando facilities, and has achieved them ahead of schedule for the Atlanta and Houston facilities. 

<ul><li>This announcement follows Kalera’s merger with Agrico Acquisition in January this year with plans to go public on the NASDAQ by this year.</ul> 

<ul><li> Analyst QuickTake: The new facility comes as Kalera reaches capacity utilization in its existing four farms across the US. Kalera is taking necessary steps to satisfy the growing demand for its produce and continue its growth in revenue ( 221% YoY in FY2021) , through 2022 as well. With five farms across the US, Kalera competes with players such as Bowery Farming (four farms), Plenty (three farms), and 80 Acres Farms (nine farms). Kalera expects to grow further in 2022 with plans to launch new facilities in Honolulu, Seattle, St. Paul, and Minnesota.</ul>