AeroFarms Expands World-wide Headquarters to Guidance Advancement and Innovation | Small business & Finance

In 2015, AeroFarms partnered intently with the City of Newark and the New Jersey Economic Growth Authority (NJEDA), to relocate its headquarters to Newark from the Finger Lakes region of New York with the aim of making much more than 75 yr-spherical careers in the local local community. Nowadays, AeroFarms employs in Newark far more than 150 workforce associates, and the Business is delivering on its eyesight of not only serving the broader New York metro area, but also serving as the world epicenter for substantial scale commercial indoor vertical farming and the most recent in breakthrough proprietary systems addressing some of the world’s most pressing agricultural challenges.

AeroFarms has been foremost the way for innovation and technologies breakthroughs due to the fact its inception and will carry on to develop on this legacy by ongoing R&D and infrastructure to sustain its leadership placement as the Organization scales. Before this 7 days, AeroFarms Co-Founder and CEO David Rosenberg was acknowledged as a Best Technology Influencer by New Jersey media outlet ROI-NJ, further more demonstrating the Company’s leadership in technology and innovation.

“New Jersey and Newark have been the ideal property for AeroFarms to recruit the greatest expertise for horticulture, engineering, information science, functions, and food stuff security enabling us to reimagine agriculture in the Yard State,” mentioned Rosenberg. “We are scaling farms around the planet, partnering intently with key multi-countrywide retailers, and our freshly expanded worldwide headquarters will be a showcase for our transformative work and innovation that will additional push our mission to develop the ideal crops probable for the betterment of humanity.”

AeroFarms has a extensive record of local community involvement, like partnering with Ironbound Local community Corporation and NJ Reentry Program, which provides profession alternatives to people formerly incarcerated. In addition, AeroFarms has made an impact with its Group Farms, functioning with partners this sort of as Newark-based mostly Philips Academy Charter College and their EcoSpaces software. The Company also partnered with the Metropolis of Jersey Town and the Earth Financial Forum’s Wholesome Towns and Communities initiative for the to start with ever municipal indoor vertical farming application, consisting of 10 vertical farms in the course of Jersey Town positioned in senior centers, educational facilities, general public housing complexes, and municipal properties. The ten websites will increase 19,000 lbs of veggies each year, using specific aeroponics h2o mist and negligible energy, and the food items will be furnished to the group for no price.

Due to the fact 2004, AeroFarms has been major the way for indoor vertical farming and championing transformational innovation for agriculture. On a mission to expand the finest vegetation achievable for the betterment of humanity, AeroFarms is a Certified B Corporation Organization with worldwide headquarters in Newark, New Jersey, United States. Named 1 of the World’s Most Innovative Organizations by Fast Firm two several years in a row and just one of TIME’s Best Inventions, AeroFarms patented, award-winning indoor vertical farming technology delivers the best disorders for healthful plants to prosper, having agriculture to a new level of precision, foodstuff security, and efficiency although employing up to 95% fewer drinking water and no pesticides compared to common field farming. AeroFarms allows regional production to securely mature all 12 months round for its professional retail model that delivers peak flavor generally ®. In addition, by its proprietary growing know-how system, AeroFarms has designed multi-year strategic partnerships ranging from authorities to key Fortune 500 organizations to assist uniquely fix agriculture supply chain requires. For additional details, check out: https://aerofarms.com/.

On March 26, 2021, AeroFarms introduced a definitive business enterprise blend arrangement with Spring Valley Acquisition Corp. (Nasdaq: SV). Upon the closing of the business enterprise mixture, AeroFarms will turn out to be publicly traded on Nasdaq less than the new ticker image “ARFM”. Supplemental facts about the transaction can be seen here: https://aerofarms.com/investors/

This push release does not represent an offer to promote or a solicitation of an offer to acquire, or the solicitation of any vote or acceptance in any jurisdiction in relationship with a proposed opportunity company combination between Spring Valley and AeroFarms or any similar transactions, nor shall there be any sale, issuance or transfer of securities in any jurisdiction where, or to any individual to whom, this sort of supply, solicitation or sale may be unlawful. Any supplying of securities or solicitation of votes about the proposed transaction will be designed only by indicates of a proxy statement/prospectus that complies with relevant policies and regulations promulgated underneath the Securities Act of 1933, as amended (the “Securities Act”), and Securities Exchange Act of 1934, as amended, or pursuant to an exemption from the Securities Act or in a transaction not issue to the registration demands of the Securities Act.

Ahead Searching Statements

Particular statements integrated in this push launch that are not historic specifics are ahead-on the lookout statements for uses of the secure harbor provisions less than the United States Private Securities Litigation Reform Act of 1995. Ahead-hunting statements normally are accompanied by text these kinds of as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or point out long term situations or tendencies or that are not statements of historical matters. All statements, other than statements of existing or historic fact bundled in this presentation, with regards to Spring Valley’s proposed acquisition of AeroFarms, Spring Valley’s potential to consummate the transaction, the rewards of the transaction and the merged company’s foreseeable future financial functionality, as properly as the merged company’s method, future functions, approximated money placement, approximated revenues and losses, projected expenditures, prospects, ideas and aims of management are ahead-looking statements. These statements are based on several assumptions, regardless of whether or not determined in this push release, and on the recent expectations of the respective administration of AeroFarms and Spring Valley and are not predictions of genuine performance. These forward-seeking statements are delivered for illustrative reasons only and are not intended to serve as, and will have to not be relied on as, a promise, an assurance, a prediction, or a definitive assertion of actuality or chance. Actual occasions and situation are tricky or impossible to predict and will differ from assumptions. Numerous real activities and situation are over and above the command of AeroFarms and Spring Valley. These ahead-on the lookout statements are subject matter to a selection of risks and uncertainties, which includes variations in domestic and international company, market, economical, political, and legal disorders the lack of ability of the parties to effectively or timely consummate the proposed transaction, which includes the possibility that any regulatory approvals are not received, are delayed or are matter to unanticipated conditions that could adversely influence the combined organization or the expected gains of the proposed transaction or that the acceptance of the stockholders of Spring Valley or AeroFarms is not obtained failure to comprehend the expected added benefits of the proposed transaction challenges relating to the uncertainty of the projected money info with regard to AeroFarms risks similar to the expansion of AeroFarms’ enterprise and the timing of expected business milestones the effects of level of competition on AeroFarms’ business the ability of Spring Valley or AeroFarms to difficulty equity or equity-joined securities or obtain debt financing in relationship with the proposed transaction or in the long term, and those people elements discussed in Spring Valley’s final prospectus dated November 25, 2020 under the heading “Risk Variables,” and other documents Spring Valley has submitted, or will file, with the SEC. If any of these challenges materialize or our assumptions prove incorrect, true outcomes could vary materially from the results implied by these forward-wanting statements. There may well be more dangers that neither Spring Valley nor AeroFarms presently know, or that Spring Valley nor AeroFarms at present consider are immaterial, that could also trigger real success to differ from people contained in the forward-looking statements. In addition, ahead-wanting statements reflect Spring Valley’s and AeroFarms’ expectations, plans, or forecasts of long term functions and sights as of the day of this push release. Spring Valley and AeroFarms anticipate that subsequent functions and developments will result in Spring Valley’s and AeroFarms’ assessments to alter. Even so, though Spring Valley and AeroFarms could elect to update these ahead-searching statements at some position in the foreseeable future, Spring Valley and AeroFarms particularly disclaim any obligation to do so. These ahead-wanting statements need to not be relied on as representing Spring Valley’s and AeroFarms’ assessments of any day subsequent to the day of this press launch. Accordingly, undue reliance need to not be placed on the ahead-seeking statements.

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PUB: 04/23/2021 08:00 AM/DISC: 04/23/2021 08:00 AM