Madar Farms gets financial support from Abu Dhabi Investment


April 13, 2020 | By RetailME Bureau

UAE-based AgTech 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 facility is currently under construction at Khalifa Industrial Zone Abu Dhabi (KIZAD) and set to open by the end of this year, which will see Madar Farms triple the quantity of its microgreens and grow a wider variety of products.

The investment is part of ADIO’s AED1 billion 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.

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 AED367 million in total in four AgTech companies building facilities in Abu Dhabi as part of this round.

Also read: Madar Farms pioneering a new way of living

“It is a privilege to be recognised by ADIO for our efforts in tackling food and water security challenges in the UAE and the region and turning the Late Sheikh Zayed 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,” said Abdulaziz AlMulla, CEO and co-founder, Madar Farms. “This investment will enable us to significantly scale up our operations in the UAE as well as put the skills and knowledge we have gained over the last three years into researching long-term, sustainable solutions for complex food security challenges in the region.”

“We are proud to partner with Madar Farms to support the continued commercialisation of its innovative AgTech solutions in Abu Dhabi. The investment will enable Madar Farms to scale up its capabilities and contribute to expanding the supply of sustainable, quality local food in the region. 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,” added Dr. Tariq Bin Hendi, director general, ADIO.

Madar Farms also works with the wider industry and education authorities to support the UAE government’s National Food Security Strategy 2051 that aims to solve the region’s food problems and provide enough nutritious food all-year round.

 

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