General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThis message was self-deleted by its author
This message was self-deleted by its author (True Dough) on Sat Mar 7, 2026, 03:52 PM. When the original post in a discussion thread is self-deleted, the entire discussion thread is automatically locked so new replies cannot be posted.
multigraincracker
(37,387 posts)summer_in_TX
(4,120 posts)Wow, it reduces both the need for water and for pesticides!
FakeNoose
(41,201 posts)Ol Janx Spirit
(977 posts)Plenty joins other vertical farming companies that have gone bankrupt in recent years as well as a string of agriculture firms that have filed Chapter 11 so-far this year. TreeSap Farms LLC, a tree and plant supplier, sought protection last month followed by soybean seed developer Benson Hill Inc. which filed Chapter 11 last week.
https://www.andnowuknow.com/shop-talk/reports-plenty-unlimited-files-chapter-11-bankruptcy-protection-texas/ryann-howard/96813
From their site:
https://www.plenty.ag/plenty-completes-restructuring-emerges-from-chapter-11/
And, while I am pulling for it, I have to admit that their propaganda reads a little like the description of Jurassic Park:
https://www.plenty.ag/plenty-opens-worlds-first-farm-to-grow-indoor-vertically-farmed-berries-at-scale/
This is also not exactly music to the ears of those who are already concerned about the influence of AI on both our planet and our culture.
I guess we will just have to see where the technology actually goes. I do wonder if they will label the ones grown in these factories so we will know where they came from? I would love to try them.
I also wonder who picks them now....
True Dough
(26,375 posts)Yes, maybe hope for someone else to pick up the ball and run with it.
Ol Janx Spirit
(977 posts)Despite raising nearly $1 billion in capital, the Company consistently burned through cash, notably at its unprofitable leafy greens farm in Compton, CA.
The high-profile collapses of industry peers like AeroFarms Inc. and AppHarvest Inc. further chilled investor sentiment, making additional fundraising difficult amid rising interest rates and market volatility.
Liquidity Challenges and Strategic Pivot
Facing declining cash reserves in late 2024, Plenty executed a strategic pivot, exiting the leafy greens market via the closure of its Compton facility and shifting focus to higher-margin strawberries produced at its newly launched Virginia farm.
Funding constraints also forced the Company to halt construction on an expansion phase at the Virginia facility in November 2024, leaving contractors unpaid and leading to mechanic's liens against the property. Key claimants include general contractor Whiting-Turner (asserting ~$20 million) and Electrical Controls & Maintenance (~$7.7 million), among others.
https://bondoro.com/plenty/
I have no idea what the price of strawberries would need to be for this kind of business model to be profitable at scale, but by the time climate change forces traditional farming into that range we may not be able to afford luxuries like strawberries anyway.
I really do hope that isn't the case though. We really need innovation in farming to help us out.
twodogsbarking
(18,378 posts)highplainsdem
(61,488 posts)highplainsdem
(61,488 posts)will work with strawberries in Virginia.
https://www.comptonchamberofcommerce.org/post/vertical-farming-company-plenty-closing-up-its-compton-farm
A postmortem on what went wrong earlier:
https://professorbalthazar.substack.com/p/plentys-ai-post-mortem-what-went
Jeff Bezos is one of the investors:
https://virginiabusiness.com/company-behind-chesterfield-indoor-farm-files-for-bankruptcy/
This is a challenging time for the vertical farming industry and Plenty is not immune from those challenges or market dynamics, Plenty said in a statement to Virginia Business. After evaluating all of our strategic alternatives, we have determined that pursuing a restructuring process is in the best interests of Plenty and all of our stakeholders. Through this process, Plenty will be better positioned to continue working toward our mission to make fresh food accessible to everyone, starting with the year-round production of premium strawberries in our innovative vertical farm in Virginia.
Ol Janx Spirit
(977 posts)...appear to have only secured a tiny fraction of that to move forward out of Chapter 11.
Strawberries may have some pricing and profit advantage over lettuce, but you would imagine they would need a similar amount of investment--maybe more--to really get off the ground with it.
S/V Loner
(9,529 posts)Jeff Bezos is.
artemisia1
(1,746 posts)innovation.