FORT WORTH, Texas — Kentucky Fresh Harvest, a hydroponic greenhouse operation based in Stanford, Kentucky, has successfully completed an equity capital raise totaling $520,000 on Harvest Returns' investment platform.
The funding raised will help the Kentucky Fresh Harvest team support its rural community by adding nearly 75 permanent, full-time jobs, according to a press release. Kentucky Fresh Harvest's facility will be able to produce approximately 3 to 4 million cherry tomatoes per year by 2020. Its facility also strives to be efficient, saving up to 135,000 gallons of water per day and 40 percent less fertilizer. Kentucky Fresh Harvest will bring millions of dollars a year of added revenue and economic benefit for the local area, according to the release.
"We are thrilled to announce a successful crowdfunding raise of $520,000 for our hydroponic farm in Stanford, Kentucky," said Curt Meltzer, COO of Kentucky Fresh Harvest. "Our partners at Harvest Returns could not have been more helpful in finding interested investors and shepherding us through the process. We look forward to working with them again in the future."
The rise of indoor farming systems across the country has helped hydroponics see a boost in consumer and business demand.
"We're excited to be working with Kentucky Fresh Harvest," said Chris Rawley, CEO of Harvest Returns. "Controlled environment agriculture is an important and growing part of America's food system. This company is leading the way in producing year-round produce in a sustainable manner."