The leading indoor vertical agriculture (also known as controlled environment agriculture) AeroFarms has filed for bankruptcy protection under Chapter 11 AeroFarms was founded in Newark, New Jersey in 2004 and retrofitted existing manufacturing building space for hydroponic production of leafy greens. The company’s filing is the latest in a string of setbacks for this technology. A few observations: the technology is still promising but remains costly and the current post-COVID state of affairs proved challenging to the business model. First, the sector was based on exacting a premium price for its produce – mainly leafy greens – based on local production. These facilities produce greens daily, closer to...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.