Subjects: BUSINESS CONTRACTS, Environmental, Social, and Governance Criteria
"GigaFarm" capable of replacing 1% of UAE food imports set for construction in Dubai Food Tech Valley
DUBAI, United Arab Emirates, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Food Tech Valley has signed an agreement at COP28 with ReFarmTM to start construction on a 900,000 sq. ft. game-changing "GigaFarm". The innovative waste-to-value farm will be capable of recycling more than 50,000 tonnes of food waste and growing two billion plants each year.
ReFarmTM was established in the UAE by SSK Enterprise and Christof Global Impact (CGI) as a group of companies with focus on projects with circularity and clean technologies. The brand chose vertical farming technology developed by infrastructure supplier Intelligent Growth Solutions (IGS) and is set to start construction in mid-2024 at Dubai's Food Tech Valley, a master development launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum and being led by major Dubai property developer, Wasl. ReFarmTM has engaged its lead bank to arrange support from UK Export Finance within the UK Government's Department for Business & Trade.
In a global first, six complementary technologies will be collocated on the Dubai Food Tech Valley site as part of a closed-loop circular waste-to-value system, establishing a self-contained ecosystem designed to maximise resource efficiency and prevent any waste going to landfill.
Capable of growing more than three million kilos of produce annually, the site will support the UAE's move towards decarbonising food production, replacing 1% of the country's fresh produce imports. Construction is due to begin in mid-2024, with the site expected to be fully operational by 2026.
HE Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said: "The United Arab Emirates' economic growth strategy has placed a strong emphasis on diversification and sustainability, which includes developing new knowledge and capabilities in high-impact industries.
"Rethinking our food production systems is a clear priority, and the decision of ReFarm to launch a facility in Dubai's Food Tech Valley is a significant step forwards for the development of a technologically advanced, low-carbon agricultural sector."
Oliver Christof, CEO at Christof Global Impact (CGI), commented: "What has been achieved over the past 36 months in the UAE is a gamechanger for the sustainable food industry. A key factor for success is the open mindset by the UAE leadership and a strong focus on circularity, which allowed us to bring together various groups, including a broad variety of local stakeholders."
Press contact details:
Carla Furneaux
+447976226408
Steven Flanagan
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1662d97a-085e-4e52-a984-01f0cd8ce049
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