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Greater Cincinnati-based 80 Acres Farms to end operations
The Hamilton-based vertical farming company could not secure enough capital after an exhaustive effort to find a way forward, CEO Mike Zelkind said.
- On Monday, Aug. 3, Hamilton-based 80 Acres Farms announced it is winding down operations after failing to secure capital required to continue its indoor vegetable-growing business, CEO and Co-founder Mike Zelkind said.
- Founded in 2015, the firm expanded rapidly across the United States using vertical farming technology, but after a decade of growth, early funding sources dried up, leaving the company unable to maintain operations.
- The company employed approximately 300 people and supplied produce to more than 18,000 retail locations; facilities included a $95 million farm in Florence, Kentucky, and a $74 million site in Boone County.
- Local restaurateur Jean-Francois Flechet described the closure as significant loss, saying he was convinced years ago the farm would "change the way we grow food," while the City of Hamilton expressed disappointment at the closure.
- Despite the closure, Zelkind remains optimistic about vertical farming's future, stating "we still believe that this industry is just getting started," underscoring the company's legacy in pesticide-free, automated indoor growing systems.
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80 Acres Farms: Collapsed acquisition deal triggered shutdown, eliminating 145 Hamilton jobs
80 Acres Farms’ shutdown came as the result of a collapsed acquisition deal, according to a Worker Adjustment and Retraining Notification, or WARN notice filed Monday with the Ohio Department
·Winston-Salem, United States
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Coverage Details
Total News Sources12
Leaning Left1Leaning Right0Center8Last UpdatedBias Distribution89% Center
Bias Distribution
- 89% of the sources are Center
89% Center
11%
C 89%
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