Q&A: Katie Seawell discusses Bowery making CNBC's Disruptor 50 list

Each year, CNBC releases a list called the Disruptor 50, a list of 50 companies "that highlights private companies that are chasing some of the market’s biggest opportunities, and growing despite a tough capital markets environment and slowing economy."

This year, New York-based vertical farm Bowery has named to the list - making them the only greenhouse or vertical farming company to make the list.

"We’re thrilled to be recognized by CNBC for our work transforming the entire fresh food supply system to be safer and vastly more sustainable," says Bowery chief commercial officer Katie Seawell. "We’re proud to be on the list which celebrates the many milestones we achieved over the past year."

Below, Seawell discusses what "disruption" looks like to Bowery, what their growth opportunities are and where CEA currently is at as an industry.

Produce Grower: What does it mean to Bowery to be named to CNBC’s disruptor list?

Katie Seawell: We’re thrilled to be recognized by CNBC for our work transforming the entire fresh food supply system to be safer and vastly more sustainable. We’re proud to be on the list which celebrates the many milestones we achieved over the past year.

Produce G: What does “disruption” look like to Bowery?

KS: Disruption looks a little different at Bowery. Our promise to our customers is wherever food is needed, we can grow it, and there are several layers to that promise. There’s sustainability and our commitment to grow more with less (more food using less land and less resources). There’s technology and innovation, with our agricultural scientists pushing boundaries of flavor and texture. And there’s the importance of food grown locally, bolstering the surety of regional supply.

PG: Bowery is the only CEA/vertical farming company on the list. What do you think makes Bowery a standout in the space?

KS: Bowery is working to transform the entire fresh food system and drive our industry forward. Technology in agriculture is essential to feeding growing populations, and we hope to see many more food tech companies on the list in the future. As far as what makes Bowery stand out, there are four main pillars: 1. Footprint Expansion. In addition to breaking ground on and opening new farms, Bowery increased our retail footprint by over 15x between 2020 and 2023. 2. Product Innovation: Our rapid product expansion, including salad kits, strawberries, and Farmer’s Selection next-generation greens, demonstrates the unique power of our R&D team. 3. Industry-Leading Efficiency Gains. Bowery is leading climate-smart agriculture with new achievements in energy efficiency, including improving the efficiency of our farm production by 35% in the last year. 4. Force For Good: Bowery is making an impact through our work with nonprofit partnerships and public policy work.

PG: Where is the vertical farming space at right now, in your opinion? What challenges does the industry face? What are the opportunities?

KS: Bowery has advocated for federal government support to help get more CEA companies up and running. The surety of domestic fresh food supply - especially as it is clear that our country is facing the impacts of climate change and extreme weather like droughts and floods - should be a stronger priority in our country. While government support and access to capital are challenges the industry is facing, the opportunities are also vast. Demand for fresh, nutritious food has never been higher. Americans want access to local, healthy, reliably fresh food and vertical farming can be part of the solution.

PG: What does the next five years look like for Bowery? What are the growth opportunities? What are the biggest challenges?

KS: Bowery is continuing our rapid expansion, and bringing our greens beyond the grocery store. Americans want to eat healthy in all aspects of their life, and Bowery is working to that end. Recent milestones include our first stadium partnership, at Citizens Bank Park in Philadelphia. Bowery’s salad kits are now available at the ballpark. We’ve also launched a partnership with sweetgreen in NYC. Looking ahead five years, we’re envisioning many more collaborations to bring our greens into every aspect of our customers’ lives.

PG: CNBC noted that you increased retail distribution 40% in 2022 - what led to that?

KS: Product innovation, reliable freshness, and demand for local, pesticide-free produce all contributed to our increased retail distribution. In 2022, we also opened our largest, most technologically advanced and sustainable commercial farm yet in Bethlehem, Pennsylvania, which means we expanded into a new market. The 2022 launch of three flavors of salad kits also helped to accelerate our retail growth.