CAIRO: UAE-based agriculture technology startup Pure Harvest has signed a strategic partnership with Saudi Arabia’s National Agricultural Development Co. to deliver a large-scale national food security project.
Pure Harvest will increase production capacity over the next five years by farming a wide range of crops, while the Saudi company, also known as Nadec, will market these products to its consumer base, hotels, restaurants, and catering partners.
The partnership will enable the production of locally and sustainably grown fresh produce on more than 27 hectares on Nadec's farms.
“Nadec is a formidable incumbent food supplier with a sterling reputation and brand, sizeable landholdings and enabling infrastructure, and an experienced leadership team,” Sky Kurtz, Founder and CEO of Pure Harvest Smart Farms, said.
Nadec is the first listed agricultural company in the Saudi exchange market and produces over 1.5 million liters of dairy and juice per day, serving over 40,000 stories in the region as well as employing over 7,000 people.
Both Nadec and Pure Harvest completed and commissioned their first-ever project in December 2021, producing over fifteen varieties of high-quality, hydroponically-grown tomatoes in an approximately six-hectare high-tech, climate-controlled growing system in Nadec City, Haradh.
Pure Harvest raised $180.5 million in funding last June, and has secured over $387 million in total funding since its inception.