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Albertsons: Fresh off its June initial public offering, Albertsons Companies Inc (NYSE: ACI) announced an agreement to offer fresh produce made by Plenty Unlimited, a vertical farming company.
Plenty operates a sustainable indoor vertical farm that can grow produce all year long. The company heavily relies on technology to grow produce, including data analytics, machine learning and customized lighting.
In its present form, the Plenty farm can grow 1 million plants at a time and process 200 plants per minute. The farm is also designed to use less than 1% of land and 5% of water versus traditional farming.
The agreement calls for Plenty to supply produce to more than 430 stores across California.
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