Photo courtesy of CNW Group/Vision Greens
Vision Greens, a Welland, Ontario-based vertical farm, announced the value of its second capital raise at $18 million, comprised of $10 million in equity and $8 million in debt capital supplied through The Dorchester Corporation and Farm Credit Canada.
"Our investors are Canadian leaders who see our potential and value in bringing sustainably grown local lettuce that is even better than organic to consumers across Canada," Vision Greens CEO Lenny Louis said in a released statement.
With the investment, Vision Greens is expanding its operations to grow up to an additional one million pounds of saleable lettuce annually.
"Vision Greens lettuce ticks all the boxes customers look for in produce today," said Jack Connacher, executive chef at Paros Yorkville in Toronto. "It's locally and sustainably grown, pesticide-free and always tastes fresh and delicious. Serving Vision Greens has enabled us to deliver a better dining experience which in turn has driven repeat business from our discerning guests."
The new growing operation, expected to be operational by mid-2025, will be fully devoted to lettuce and "places the company on an expansion path to deliver its greens across Canada," Louis added.
Vision Greens' product lineup includes Crunchy Green Leaf Lettuce, Fancy Spring Mix Lettuce, Crisp Romaine Lettuce and Cherry Kiss Red Leaf Lettuce.
