Dream Harvest Farming Company, a Houston-based vertical farming pioneer founded in 2015 to combat the increasing problem of food and resource waste through enhanced sustainable farming, announced it has secured a $50 million capital raise from Orion Energy Partners. The funds will be used to scale production and meet significant demand with the construction of a new 100,000-square foot indoor growing facility, enabling it to serve additional retailers and scale its current operations
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Utilizing a state-of-the art, wind energy-powered, indoor, vertical farm, Dream Harvest produces 400 times the yield of an outdoor farm, using 95 percent less water and no pesticides. With a year-round farming season, local distribution and shorter transportation times, its produce stays fresh on the shelf more than two weeks longer than traditionally sourced products. Because the vast majority of America’s produce is grown in California and has to be shipped over long distances, most of the country receives produce that is old, has a poor flavor profile and a short shelf life – a major contributing factor to the more than 30 percent of fresh vegetables being discarded in the U.S. each year.
“Our fundamental mission is to sustainably produce farmed foods that are consumed – not wasted – through centralized production, local distribution and a creative approach that resonates with today’s health-conscious consumers,” said Zain Shauk, co-founder and CEO of Dream Harvest. “Demand for our produce has far out-paced supply, an encouraging validation of our approach as well as positive news for our planet, which is facing the rising problem of food and resource waste. While we have the yields to support our business, we are pleased to partner with Orion on this financing, which will enable us to greatly expand our production and increase access to our produce for many more consumers.”