Finland’s Netled has signed a three-year investment agreement with herb grower Oh My Greens, the two companies announced today. The agreement is worth €15 million (~$17 million USD) over three years and will provide Sweden-based Oh My Greens with Netled’s turnkey vertical farm called Vera.
Netled’s Vera system comes as a few different forms, the smallest iteration being a cabinet-sized farm that lives in the produce section of a grocery store. Netled also offers a larger in-store model, a larger “compact” model (8 meters by 6 meters), and an industrial-scale version that is modular and can be added to as product demand increases.
It’s this larger industrial version of Vera that Netled will provide to Oh My Greens, which is owned by Swedish-American investment, management consultancy, and social impact firm Applied Value Group. Oh My Greens sells its potted herbs in Sweden and hopes to gain more share of the market in Sweden through the Netled partnership. Speaking in today’s press release, CEO Moses Isik said his company considered 17 different vertical farming technology providers before deciding on Netled and its Vera system.
The indoor farming system includes LED lighting, a dynamic spacing system, HVAC, a nutrition system, automation software, and production management and horticulture intelligence software. The idea is to provide clients with a plug-and-play vertical farming system that grows more plants faster and saves companies on CAPEX and OPEX costs.
The deal with Oh My Greens means Netled can build up more of a presence in Sweden, where companies like Urban Oasis and Grönska already operate vertical farms.
Moving forward, Netled will provide technical and consultancy services for its technology while Oh My Greens works on producing and supplying produce to Stockholm retailers. For now, that’ll largely be the usual vertical farming fare of leafy greens and herbs.
