Food and Agribusiness

UAE agri-business firm Pure Harvest gets $100 million commitment from Kuwait’s Wafra

Abu Dhabi-based agri-business venture Pure Harvest Smart Farms on Monday said it has secured a $100 million multi-year funding commitment from Kuwait’s Wafra International Investment Company, the biggest agriculture technology investment in the region. Pure Harvest Smart Farms supplies tomatoes grown in an enclosed, environment-controlled farm to supermarkets – including Carrefour, Spinney’s and Waitrose – hotels and restaurants in the UAE. The Arabian Gulf food system is undergoing a monumental shift toward a technology-enabled farming model in order to meet consumer demands for affordable, high quality foods. The region makes a compelling case as one of the best places in the world for horticulture due to availability of abundant sunlight with energy and water-efficient climate management systems. The recent COVID-19 crisis and resulting supply chain disruptions further highlight the need for sustainable local-for-local food production capacity, especially for fresh, nutrient-rich foods.

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