Capital infusion to accelerate the growth of UAE’s AgTech industry
UAE-based AgTech (Agriculture Technology) company, Madar Farms has partnered with the Abu Dhabi Investment Office (ADIO) to support the operation of the world’s first commercial-scale indoor tomato farm using only LED lights and a new research facility to help in accelerating the AgTech industry in the UAE and the region.
The investment is part of ADIO’s AED 1bn (US$ 272.26mn) AgTech Incentive Programme to accelerate the growth of the emirate’s burgeoning AgTech ecosystem and promote innovation in desert agriculture that is locally relevant and globally exportable.
It will be used towards developing the world’s first commercial-scale indoor tomato farm that will use only LED lighting to grow. The facility is currently under construction at Khalifa Industrial Zone Abu Dhabi (KIZAD) and set to open by the end of this year.
The investment will also support a new Research and Development (R&D) facility that will enable Madar Farms to quantify production output measured against environmental inputs (water and electricity). Currently, Madar Farms has an established R&D facility at Masdar City in Abu Dhabi.
Madar Farms is one of four AgTech innovators to receive investment from ADIO in the latest award of financial packages from its AgTech Incentive Programme, established under the Abu Dhabi Government’s Ghadan 21 accelerator programme. ADIO will invest AED 367mn (US$ 100mn) in total in four AgTech companies building facilities in Abu Dhabi as part of this round.
Since launching in 2017, Madar Farms has been leading a new agriculture revolution by using advanced methods to grow local high-quality fresh produce with cutting-edge farming technologies on its hydroponic-vertical systems.
“It is a privilege to be recognized by ADIO for our efforts in tackling food and water security challenges in the UAE and the region and turning the Late Sheikh Zayed’s vision into reality. This shows that we are going in the right direction and with food sustainability becoming more important, we are more determined to build on this achievement,” commented Abdulaziz AlMulla, CEO and Co-founder, Madar Farms.
“AgTech is a priority sector for the Abu Dhabi Government, and Madar Farms will be a key player in the growth of the ecosystem over the coming years,” remarked Dr. Tariq Bin Hendi, Director General, ADIO.
