AeroFarms, a US vertical-farming business, has secured new funds for a second facility after emerging from bankruptcy two years ago. The company refinanced debt to support operations in Virginia and raised new equity financing for pre-construction of the new farm, led by CEO Molly Montgomery. The capital-intensive industry faces challenges but aims for sustainability and profitability. Various investors provided the new equity financing, and Montgomery expressed gratitude for their support. AeroFarms plans to expand its local food production of microgreens worldwide while preserving natural resources. The company utilized an asset-based loan to repay a previous debt facility and secure more favorable terms for expansion. GFA partner Stephan Dolezalek believes AeroFarms can make a significant impact on the global fresh food supply chain.

Read more at Yahoo Finance: AeroFarms secures funding to build second vertical farm