Source: Wamda
Pure Harvest Smart Farms announced that it is forming an alliance with Al Dahra Group by acquiring Germany-HQ BayWa’s controlling interest in the Al Dahra BayWa joint venture, which currently operates a large-scale, 11-hectare high-tech controlled-environment agriculture production facility. The Al Dahra BayWa project was an early and important contribution to the UAE’s food security and sustainability objectives. It represents a successful partnership between a globally recognised international project developer (BayWa) and the UAE’s leading agribusiness & food security incumbent (Al Dahra). BayWa’s successful development of the Al Dahra BayWa project and its transition to a new, permanent owner-operator (Pure Harvest) is consistent with BayWa’s successful development strategy within its renewable energy business. This transaction represents the largest investment to-date in the fast-emerging GCC controlled-environment agriculture ecosystem.
The parties share a vision to make locally grown, high-quality, safe and sustainable fresh produce available anywhere, embracing the challenge of food security as a global issue that can only be solved through technology, investment, and collaboration. By combining forces, the parties can better serve the market, leveraging Pure Harvest’s proprietary technologies and growing methods to improve productivity, while at the same time combining resources for further research, development and innovation.
The newly formed Pure Harvest Al Dahra joint venture partnership increases Pure Harvest Smart Farms’ total operating capacity under management to over 22 hectares (54 acres). Further, Pure Harvest and Al Dahra will invest additional capital to enhance the farm’s capabilities, as well as expand its production capability into new crops to serve consumers. The three parties will continue to collaborate together to further food security and food infrastructure projects both in the UAE and in new markets, which could include additional production assets, renewable energy infrastructure projects, and other investments.
This transaction firmly places Pure Harvest Smart Farms and its new partner Al Dahra as the region’s most formidable high-tech, controlled-environment agriculture player. The partners have a shared vision to continue to champion food security, water conservation, economic diversification and sustainability objectives for the country, and together we will investigate both UAE and international expansion opportunities in the future.
In January, Pure Harvest Smart Farms was ranked #2 in Forbes Middle East’s “50 Most-Funded Startups In MENA” for securing over $280 million of capital since the company’s inception. The company remains focused on delivering innovative food systems that make-possible local, sustainable fruit and vegetable production, overcoming even the harshest environmental conditions.
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