Mastronardi Produce Ltd. and AppHarvest have announced a new endeavour in the AgTech sector. FarmCo is a joint venture that will develop a portfolio of controlled environment agriculture (CEA) facilities to expand supply of fruits and vegetables including leafy greens to Mastronardi’s existing fresh produce marketing and distribution business.
The venture would use the equity contributed from both companies to raise additional capital to fund its growth, targeting to build over 750 acres of CEA Facilities in the US to grow fresh fruits and vegetables including leafy greens.
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