• Pure Harvest Smart Farms (Pure Harvest) and RedSea are set to forge a strategic partnership with Pure Harvest acquiring RedSea’s six-hectare controlled-environment agriculture (CEA) production facility near Riyadh, Saudi Arabia.
• This move is in tandem with Red Sea’s transformation into a pure-play technology company, concentrating on AgriClimate technology solutions, while simultaneously aiding Pure Harvest’s expansion endeavors in Saudi Arabia.
• The acquisition introduces an innovative “franchise farming” model, fostering collaboration with local farmers for sustainable agricultural solutions, with operations set to transition to Pure Harvest in January 2024, emphasizing climate control enhancements and incorporating RedSea’s iyris SecondSkyTM technology.
UAE-based Pure Harvest Smart Farms (Pure Harvest), a leading agribusiness utilizing technology, and RedSea (RedSea), a pioneer in climate-smart technology, have signed a Letter of Intent (LOI) for Pure Harvest to acquire RedSea’s existing six-hectare controlled-environment agriculture (CEA) production facility near Riyadh, Saudi Arabia.
This strategic move aligns with RedSea’s shift to a pure-play technology company, focusing on AgriClimate technology solutions, and supports Pure Harvest’s expansion plans in Saudi Arabia.
The acquisition introduces a “franchise farming” model, partnering with local farmers for sustainable solutions.
Pure Harvest will take over operations in January 2024, investing in climate control and production enhancements, incorporating Red Sea’s iyris SecondSkyTM technology.
The deal also includes securing a 40-hectare land bank, enabling Pure Harvest to expand its franchised farm footprint.
The collaboration reflects a commitment to climate-smart agriculture and advancing food security and sustainability technologies.
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