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The food-focused subsidiary of Saudi Arabia’s $300bn Public Investment Fund increased its 20% stake in Minerva Foods it purchased in 2016 to 33.8%.
ADQ is also among several potential investors into the Louis Dreyfus Company and acquired a 50% stake in multinational agribusiness Al Dahra Holding Company in May.
Chairman Dave Chen says the investment reflects Mexico’s continued importance to North American produce supply and the global scope of the controlled environment market.
Khadim Abdulla Al Darei, Al Dahra’s co-founder and vice-chairman, says the investment will allow the multinational agribusiness to expand its 'reach and footprint.'
Black solider fly
Insectta has developed technology that can extract chitosan from insect waste, an antimicrobial ingredient used in the pharmaceutical and cosmetic industries.
The UAE capital will deploy $270m by 2021 as part of a strategic agtech program that has the end-goal of turning the city into a regional and global exporting hub of food tech innovation.
The first $10m tranche of the investment forms the bulk of Pure Harvest’s $20.6m Series A, with access to the rest of the outlay dependent on expansion targets being met.
Vertical farming facility
US-based vertical farmer AeroFarms will build what is claimed to be the largest vertical farming R&D center of its kind in Abu Dhabi, while UAE-based vertical farmer Madar Farms will build an indoor tomato farm through the investment.
Chief scientist Yaakov Nahmias says the start-up’s methodology means it only takes 14 days to produce cultured chicken or beef, whether it is producing 1kg or 1 tonne of meat.
CEO Kevin Schwartz says the firm specifically targeted investors outside of its traditional base in the US and Europe, resulting in commitments coming in from institutions in China, Japan and the Middle East.
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