The Future of AeroFarms: Innovations in Urban Agriculture
AeroFarms, founded in 2003, is a leading aeroponics company focusing on urban agriculture to nourish communities globally. The company's agenda includes opportunities in diversified grains and leafy greens, with recommendations to focus on produce profitability and efficiency. Plans involve opening a test facility in Iowa and licensing technology for market growth. Strengths in production and thought leadership are highlighted, while weaknesses include carbon production and upfront costs.
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Presentation Transcript
The Future of AeroFarms ASHLEY BRUNER | ALAN NAPIER | RYAN MCCARTY | JUSTIN BOSLEY JANUARY 6, 2020
Agenda Background & Opportunities Recommendations Financial Considerations Implementation 2
Background David Marc Oshima, CMO Ed Harwood, CSO Rosenberg, CEO Founded in 2003 Largest aeroponics company Focus on urban agriculture At the end of the day it s about nourishing communities. It s how we can build these responsible farms in major cities all over the world. Marc Oshima Background Recommendations Financials Implementation 3
Opportunities Diversified: protein-rich grains Focused: leafy greens Background Recommendations Financials Implementation 4
Opportunities Diversified: protein-rich grains Focused: leafy greens Background Recommendations Financials Implementation 5
Recommendation Leafy-green produce focus Re-position as part of the solution Increase profitability & efficiency Open test facility in Iowa Comparatively low cost Innovation with limited risk License leafy green technology Consistent with mission Grows aeroponics market size Background Recommendations Financials Implementation 6
Agenda Background & Opportunities Recommendations Financial Considerations Implementation 7
Recommendation Focus on vegetables License technology Develop new products Background Recommendations Financials Implementation 8
Recommendation - Strengths 10 times more production Key patents and trade secrets Thought leadership in aeroponics Technology and data analytics partnerships Quality and efficiency advantages Background Recommendations Financials Implementation 9
Recommendation - Weaknesses 10 times more carbon production Large upfront costs Limited success with high-calorie grains Technology and data analytics partnerships Quality and efficiency advantages Background Recommendations Financials Implementation 10
Recommendation - Opportunities Vertical farming product sales growing rapidly Technology costs decreasing (Moore s Law) Leverage vertical farming expertise Financial and knowledge advantages may permit buying opportunities Background Recommendations Financials Implementation 11
Recommendation - Threats Geopolitical risk may prevent funding High probability of failure Vertical farm alternatives may kill aerofarming Technology may become obsolete Background Recommendations Financials Implementation 12
Recommendation - Alternatives Expand operations into other vertical farming methods Pursue partnerships with existing farmers Evaluate or use alternative sources for land and energy Background Recommendations Financials Implementation 13
Recommendation Benefits Focus on vegetables will drive profits Licensing technology will increase market presence Developing new products will be enhanced Background Recommendations Financials Implementation 14
Recommendation Decision Criteria Remain within boundaries of company mission Sustain business profitability Select on order of cost versus benefit Background Recommendations Financials Implementation 15
Agenda Background & Opportunities Recommendations Financial Considerations Implementation 16
Financials Rapidly Growth Industry Potential Market of 1 Billion Expanding Population Global Food Needs Talent Acquisition Background Recommendations Financials Implementation 17
Financials Expected Growth Growth 2013 0.41 2016 1.5 2020 1.97 2023 6.4 Growth Background Recommendations Financials Implementation 18
Financials MILLIONS ($US) Rest of the World 11% Asia Pacific 35% Europe 21% North America 33% Background Recommendations Financials Implementation 19
Financials Lufa Farms 4% REVENUE AeroFarms, LLC. 27% BrightFarms Inc. 6% Bowery Farming Inc. 3% Gotham Greens Farms LLC 57% Plenty Inc. 3% Background Recommendations Financials Implementation 20
Agenda Background & Opportunities Recommendations Financial Considerations Implementation 21
Implementation: Timeline 2020 Marketing License Technology 2020/2021 Test Facility 2021/2022 Background Recommendations Financials Implementation 22
Implementation: Marketing Transparent Process 30,000 data points 95% less water Optimize amount of fertilizer used Improve taste, texture, color, nutrition, and yield Background Recommendations Financials Implementation 23
Implementation - Marketing Social Media Platforms Taste Tour Facebook Instagram Twitter Facility/process tour Product sampling Background Recommendations Financials Implementation 24
Implementation Tech Licensing Seek out opportunities to license technology Generate new revenue streams Give farmers competitive advantage Relationships with farmers Background Recommendations Financials Implementation 25
Implementation Open Facility in Iowa $8,000 per acre vs $19.5M per acre in Newark Experiment with Hydroponics and Aquaponics Test growth of protein rich grains Look into other fruits and vegetables Background Recommendations Financials Implementation 26
Implementation Risks & Mitigation Work with farmers to gain political influence Geopolitical Protein Rich Market Experiment with Hydroponics and Aquaponics Seek out farmers without other tech licenses Tech License Background Recommendations Financials Implementation 27
Summary OTHER CONSIDERATIONS 28
Questions? THANK YOU 29
