Listen to this articleThe leading indoor grower of leafy greens in the United States BrightFarms recently secured more than $100 million in new funding. They plan to add new farms in North Carolina, Massachusetts, and Texas while significantly increasing capacity at their current farms over the next five years. Below is our recent interview with Steve Platt, CEO of BrightFarms:
Q: This is the first time we have spoken. Can you provide a brief overview of BrightFarms?
A: BrightFarms is the leading indoor grower of leafy greens in the United States with four hightech indoor farms and 3 more under development. Our products can be found in over 2,000 stores including leading retailers like Ahold-Delhaize, Kroger & Walmart as well as local natural specialty stores.
BrightFarms is mission driven with the goal to make people & our planet healthier. We meet the growing consumer demand for local produce while also building a more reliable supply chain that’s decentralized, structurally safer and more resilient to growing threats like climate change. We’re building a national brand of local produce that’s fresher, tastier and more nutritious than what is on most store shelves today.
As it stands today, 90% of the nation’s leafy greens come from conventional outdoor farms in California and Arizona. I predict that in ten years, around 50% of all leafy greens will be grown indoors, with BrightFarms leading the way.
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Q: Tell us something more about your products?
A: We grow many varieties, but our top two sellers are Sunny Crunch and Spinach. Sunny Crunch is a first of its kind that looks like a leafy green, but eats like iceberg. It’s light, crispy, crunchy, but still packed with nutrition. Our Baby Spinach is my favorite, with much more flavor than spinach from industrial farms on the west coast. We’re the largest indoor grower of spinach in the world.
Q: What advantage does BrightFarms have over its competitors?
A: BrightFarms stands out among other indoor farming companies for a few key reasons:
1.Technology: We have developed a proprietary software system called BrightOS. It leverages the latest advances in AI, like machine learning and predictive analytics, and acts as a central nervous system across our entire company. The platform streamlines operations from the time a seed is planted until the final product is delivered to store shelves. It’s the first platform of its kind and is a critical component to our success in this industry.
2.Leading Retail Partnerships: We’re the first local, indoor salad brand to distribute to more than 2,000 stores. Early on, we forged close partnerships with the nation’s leading retailers including Ahold Delhaize, Kroger and Walmart. We continue to expand with these retailers as we grow our footprint across the nation.
3.Sustainability: Most of the energy used to grow our crops comes from the sun (not artificial lighting). Our growing methods, we believe, are more sustainable than the vertical farms that rely entirely on artificial lighting. Growing with the sun’s energy does not consume fossil fuels and does not emit greenhouse greenhouses. Energy from the sun is also free, which helps lower the cost of our production.
4.Product Portfolio: We have the widest breadth of products among our competitors. We are the only local, indoor company that grows spinach, which is a notoriously difficult crop to grow in a hydroponic system. It took years of proprietary R&D for us to find a solution.
5.Best Team in the Business. Over the last six years, we’ve built a team of leaders from within the food industry that are deeply aligned with our mission and passionate about our growth. Our tenured team brings the strongest experience in growing, operations, sales, marketing and merchandising in the industry. We win on reliability, quality and execution every day.
There are also several advantages over West Coast field growers, who currently dominate the salad
market:
1.Fresher Product: Our product arrives on store shelves in as little as 24 hours after harvest, about a week fresher than leafy greens grown on the West Coast.
2.Structurally Safer: The salad industry has been plagued by outbreaks and recalls over the last two decades. Growing indoors and without the use of soil provides a structurally safer environment that reduces the risk of contamination. We also don’t use pesticides, chlorine baths, or other harsh chemicals in our growing space.
3.Surety of Supply: The West Coast salad supply chain is prone to disruptions from climate related weather events, labor shortages and now – the pandemic. Growing in a decentralized controlled indoor environment allows us to provide a more resilient supply chain that is not impacted by weather events or a national crisis.
Q: What is next on the roadmap for BrightFarms?
A: We just secured more than $100 million in funding, led by Cox Enterprises, to help us expand our network of local, indoor farms and deepen partnerships with the top national retailers. Specifically, we plan to add new farms in North Carolina, Massachusetts, and Texas while significantly increasing capacity at our current farms over the next five years.
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Q: Thank you for your time. Is there anything you’d like to add before we wrap up?
A: Eat your vegetables!
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