Infarm closes Copenhagen operations amid ongoing ‘strategy shift’ & vertical farming consolidation

By: Trademagazin editor Date: 2023. 05. 18. 09:32

Vertical farming company Infarm has shut down operations in Copenhagen, Denmark. This is the latest closure in a series that also includes operations in the UK, France, the Netherlands, Japan and Frankfurt, Germany.

The Germany-based startup says it is focusing on markets that have a clear path to profitability in 2023.

In November 2022, Infarm said it would lay off “more than half” of its workforce and downsize its operations. An email from company executives cited “escalating energy prices and tough financial markets” as drivers of an overall “strategy shift.”

Copenhagen is one of several markets impacted by this strategy shift, following the Feb. 2023 closing of operations in the UK, France, the Netherlands and Japan, and Frankfurt, Germany on April 6.

Toronto, Canada is on the list of markets the company will consolidate, though Infarm’s latest update notes that it “continues unaffected.”

“We have to adapt our ambitious growth targets and increase our efficiencies to make our business profitable, and continue the pursuit of our long-term mission,” company executives said in the email to employees.

A spokesperson from Infarm told AFN that the company is working on an update about its overall strategy going forward. Details of this are forthcoming, they noted.

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