NEW TECH FOODS

AeroFarms, a vertical farming company and microgreens supplier in the US retail market, has announced major financial moves to strengthen its operations and support future expansion.

The company has successfully refinanced its existing debt and raised equity financing to support pre-construction activities for a new farm in Danville, Virginia.

“Our vision is to provide local food production of nutritious microgreens to regions around the world, while preserving natural resources,” said Molly Montgomery, executive chair and CEO of AeroFarms.

“We have recently demonstrated that vertical farming can indeed be sustainable, profitable and produce fresh greens at scale."

She continued: "I would like to extend my gratitude to our financial partners who believe in our vision and have provided financinfing to support our operation in Danville and commencement of pre-construction activities for expansion to a second farm”.

The equity financing was led by multiple existing investors, including Grosvenor Food & AgTech (GFA), Ingka Investments, Cibus Capital and ACEG.

GFA’s managing partner, Stephan Dolezalek, added: “We believe AeroFarms can play a significant role in the global fresh food supply chain, by providing nutritious greens at scale to local regions around the world. AeroFarms has now proven the ability to deliver the transformative benefits of vertical farming through a viable, profitable business."

"To support these efforts, GFA, along with our investing partners, committed funding to support existing operations and enable the company to embark on its next phase of growth.”

To enhance its financial stability, AeroFarms secured an asset-based loan from Siguler Guff, which enabled the company to fully pay off a previous debt facility from Horizon Technology Finance.

The new loan, closed in May 2025, not only offers a more favourable interest rate but also provides interest-only terms and a carve-out for eligible equipment financing.

Waterside Commercial Finance played a crucial role as the exclusive USDA finance advisor, utilising its Bridge-to-USDA Program to facilitate the transaction. This strategic partnership is expected to bridge AeroFarms until a permanent USDA-guaranteed loan is finalised later this year.

AeroFarms has positioned itself as a frontrunner in sustainable agriculture, commanding over 70% of the U.S. retail market for microgreens.

The company employs innovative technologies, including patented aeroponics, automated systems and AI, to cultivate greens that require significantly less land and water than traditional farming methods.

With a commitment to renewable energy, AeroFarms is capable of growing crops year-round, independent of geographic and climatic constraints. As a Certified B Corp, AeroFarms is dedicated to maintaining high standards of social and environmental performance, further solidifying its role as a key player in the food industry.