Funding To Boost Growth For TruLeaf Farms
BIBLE HILL, N.S. – An indoor, multi-level farming company in Bible Hill is poised for its next growth spurt after receiving a major funding injection and new business expertise.
TruLeaf Sustainble Agriculture Ltd., based in the Perennia Innovation Park, said in a news release it has closed an $8.5 million equity-finance round, which will enable it to “continue its mission” of becoming a global leader in vertical farming technology.
The company has also added Mike Durland, former CEO and group head of Scotiabank’s Global Banking and Markets Division, and Neil Murdoch, former CEO of Connor, Clark & Lunn Capital Markets, to its board of directors.
“This new round of financing and the additions to our board will help us to expand the breadth of our product offerings and increase the number of markets that we serve,” said Gregg Curwin, president and CEO of TruLeaf and GoodLeaf Farms.
“Mike and Neil bring a high level of business acumen and strategic expertise that will help us scale our business.”
TruLeaf, founded in 2011 in Bible Hill, has developed an indoor farming system that can grow fresh plants for food and medicines anywhere in the world, regardless of environment, 365 days of the year, the release said. The system integrates growing technologies in a controlled environment to grow high-quality, predictable yield and clean plants with innovative and efficient technologies.
Vertical farming combines proven hydroponic technology with advancements in LED lighting and environmental control to allow year-round production of plants indoors.
“Vertical farming is nearly 10 times more efficient than traditional agriculture and is more productive, takes up less land and uses dramatically less water,” the release said