Kalera Acquires Vindara to Unlock the “Power of the Seed” and Drive Explosive Growth in the Vertical Farming Industry

Vindara is first to develop customized non-GMO plant varieties to thrive in vertical indoor growing environments
Provides potential to increase indoor crop yields and boost flavor and nutritionORLANDO, Fla., Feb. 24, 2021 (GLOBE NEWSWIRE) — Kalera (Euronext Growth Oslo ticker KAL, Bloomberg: KSLLF), one of the fastest-growing U.S. vertical farming companies in the world and a leader in plant science for producing high-quality produce in controlled environments, today announced the acquisition of Vindara Inc. (“Vindara”), the first company to develop seeds specifically designed for use in vertical indoor farm environments as well as other controlled environment agriculture (CEA) farming methods.Vindara, based in Research Triangle, NC, uses genomics, machine learning, and computational biology along with traditional breeding methods to meet the market need for produce that is non-GMO, nutritious, high-yielding, and delicious. Explicitly intended for the new high-tech indoor growing environments, Vindara seeds offer growers the opportunity to capitalize on significantly higher yield potential, production efficiencies and product customization — in a fraction of the time through reducing the grow cycle. The company’s unprecedented breeding process shortens development time from the usual 5-7 years to just 12-18 months and shaves several days off of the plant grow cycle, resulting in increased output and optimizing yield and profitability.Vindara will be a fully owned subsidiary of Kalera and will operate out of Kalera’s headquarters in Orlando, Florida where Dr. Jade Stinson will continue in her existing role as Co-Founder and President. Together, the combined company will:Significantly increase the output from Kalera’s current and future facilities by reducing grow cycle and providing higher yieldsLower costs of goods sold by reducing costs of seed and energy efficiency/automationSignificantly improve Kalera’s future EBITDABe better positioned to offer differentiated products and have improved ability to optimize color, texture, flavor, firmness and nutrient profileAccelerate and expand Vindara’s seed research and development programs focused on the indoor farming sectors to support overall CEA market share growth.Develop a strong product pipeline beyond leafy greens to include high yield basil, high yield spinach and high yield strawberries
“Kalera has always focused on being the most technologically advanced player in the vertical farming industry. With the addition of Vindara’s data-driven methodology, we will be the first vertical farming company with the ability to develop its own plant varieties bred specifically for indoor farming conditions. Our acquisition of Vindara complements our overall science-driven and innovation-leading value proposition. This investment represents an important strategic opportunity to increase revenue options to Kalera while reducing its cost of materials and reducing our cycle times given Vindara’s competitive advantages,” said Daniel Malechuk, CEO of Kalera. “While advances in technology such as lighting, robotics, sensors, and planting substrates are all improving grower economics, seeds developed specifically for indoor farming have been a ‘missing link’ to vertical farming achieving its full potential. Together with Vindara, we are ushering in a new era of agricultural advancements that will increase production yields and produce unique crop varieties customized for the needs of our discerning customers around the globe.”“Kalera has quickly established itself as an innovative leader and is the ideal partner to help Vindara continue optimizing seeds designed specifically for the vertical farming industry,” said Dr. Stinson. “With Kalera’s commitment to R&D and improving the yield, variety and characteristics of its produce, we will be able to better leverage our ability to develop customized seeds for indoor growers faster than any other seed provider. I look forward to working with Daniel and the rest of the Kalera team to continue driving innovation and building on Kalera’s rapidly expanding footprint by delivering a truly differentiated product for their customers while also accelerating our ability to provide the rest of the CEA world with our revolutionary seeds.”“We stress that Kalera is the future of farming — and with our robust growth and ongoing operational enhancements, we’re truly making that future happen now, turning it into a reality today,” said Malechuk.Kalera currently operates two growing facilities in Orlando, and is building facilities in Atlanta (Georgia), Houston (Texas), and Denver (Colorado), which will open in 2021 along with additional facilities underway in greater Seattle (Washington), Honolulu (Hawaii), and Columbus (Ohio). Kalera is the only controlled environment agriculture company with coast-to-coast facilities being constructed, offering grocers, restaurants, theme parks, airports and other businesses nationwide reliable access to locally grown clean, safe, nutritious, price-stable, long-lasting greens. Once all of these farms are operational, the total projected yield is several tens of millions of heads of lettuce per year, or the equivalent of over 1,000 acres of traditional field farms. Kalera uses a closed-loop irrigation system which enables its plants to grow while consuming 95% less water compared to field farming.About KaleraKalera is a technology driven vertical farming company with unique growing methods combining optimized nutrients and light recipes, precise environmental controls, and clean room standards to produce safe, highly nutritious, pesticide-free, non-GMO vegetables with consistent high quality and longer shelf life year-round. The company’s high-yield, automated, data-driven hydroponic production facilities have been designed for rapid rollout with industry-leading payback times to grow vegetables faster, cleaner, at a lower cost, and with less environmental impact. To learn more visit www.Kalera.com.About VindaraVindara is the first company to deliver genetic seed varieties bred explicitly for use in fast growing, high-tech indoor farming operations. Founded in 2018, the company utilizes machine learning to develop tailor-made seeds in a compressed timeframe of only 12-18 months. To learn more visit www.Vindara.com.Media Contact
Molly Antos
Phone: (847) 848-2090
Email: molly@dadascope.comPhotos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/ac125484-e60b-4e75-b50a-a3f93b1dccbchttps://www.globenewswire.com/NewsRoom/AttachmentNg/a65d63b3-27df-4515-b5b5-0d3ed0d41850https://www.globenewswire.com/NewsRoom/AttachmentNg/d9cb0fd1-ae19-4937-b976-1f350e771769https://www.globenewswire.com/NewsRoom/AttachmentNg/761584de-c00d-4760-808e-d5dd211c3d59https://www.globenewswire.com/NewsRoom/AttachmentNg/839cc7af-ff95-44d9-8d22-da16090e4592