Feb 16, 2017|
Jacob Bunge (WSJ, Indoor Farming) by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
Take a bungee from the Wall Street Journal joins us now. You talk about his article from a wood was couple days ago and Jacob thank you very much for joining us. You have access thanks for having me on that. Jacob the company that you profiled in your piece here was company called plenty united. That's based out of California can you tell our listeners a little bit about what it is they're doing. Sir so what they are all about is trying to shift to produce. Farming in Taurus. Trying to effectively take buildings are on the size of home keep dole or. Are loads and so abruptly went to a leading lights and racks that rise up from twenty feet. Up in the air and these are used to to grow old let us and the greens and things like that accusing. LED lights and done entirely indoors and the idea here is that they couldn't cut the water consumption down. Nearly a 100% spying reusing water and use a lot so that in general that they can grow. More let us. Basically if you are square feet and can be done in the field. They can avoid using a lot of pesticides that are they keep plants LT outside. And potentially do this locally. He sort of piece things around cities in. Big towns around the country and especially the world and have. Effectively. Salinas California type a productions on terra not so far from everybody is local restaurants and crushes source. So effectively one of the things they can also save on there's transportation costs and all the gas that burn getting all of those crops to where they need to be. Yeah that's correct then they'll SOA is saying that they can and that introduce sore or changed. The way that. Let this case and by that than me mailing talk about it and the pressure because a lot of lettuce and thrown outside today. By day nature has to be the varieties that can withstand and so storage for. There is a time of the transport across country. And that's of this so there in that view that is the extra and a do this indoors so alters the way that. Let us when the color screens of things tastes. With they a form that set up late this how many workers or are involved in the process of how much of it is automated. Well look Sam out of that is automated and did these folks in plenty or not the only ones that are working on this smithers number of other startups that are doing this and and different ways there's company is called bright farms farmed here freight farms so aero forms. So there's a handful that is not a mission to different. Decrees but it's the key thing is that it's whose you have all of this concentrated. You know small area here and so. You eliminate a lot of that need to make allowed into the fields to attend the crops. To. You know bring them back and to wash them in this. Sort of centralized production area and they can do all of this season effectively one building. If all goes to plan. Jacob we've been talking a lot about this in terms of I think you mentioned lettuce is the main crop they're growing at this point. Is it possible to do things like tomatoes watermelons other things that Americans eat off farms or is it predominantly. Leafy greens at this point. Well that's that's still an open question. The idea to restore with listing greens and things like that are Genesis. Partly a function. These same sorts some of those plans being amenable to. The setup that they some largely Contra Monica and so that. Over time. And there are on the technology and figure out how. Plants take in energy from the whites and and nutrients that taken cycle through the water that they believe they can do you. A wider range of crops and next to mine can be things like various and then some efforts. When you get into some of the routed the vegetables tickets a little more complicated. But. You know it's one of these questions how far can technology go and so it's always tough thing over all long period of time to bet against technologies. Jacque Reid tried any of these and how they taste. While China some of the ones that are. Around here on in Chicago there's a couple of companies that do this and you know if it tastes fine. And I don't know that I'm. World congress sure. Leafy greens loose but at some you know firm purposes have to I think typical person is making sound I mean and that. It isn't going to be. Any U worse than that which you would already biased or you might find a better. I think the interesting question that some of these similar concepts are gonna come up against is them you know in in the sense. Producing. A vegetable or whether slowness or. That's something else down the line they get here. In that. A warehouse so essentially you lift lift artificial lights. May be little or or most oil involved at all. They can call it locally grown of course some and they can call its produced maybe without pesticides that they're able to eliminate those so entirely but it is this going to root appeal to folks who are shoppers so whole foods and by conflict that's. And maybe have different some idea in mind when it comes to locally grown produce you know maybe they'd envisioned a small farm. And so oil and all the old fashioned sort of thing so. I think that's where you know some the questions for the news source accounts of sort of a part time. Very good Jacob thank you for joining us today. Jacob bungee from the Wall Street to really curious about the tape is if you guys ever tried. A tomato that's grown. In. Arizona horror California. Probably right I mean anything yet the grocery stores time year's heated air South America. Not as good as locally grown now than tightly to these kind of declines as you transports so I think you used in the transportation excellence in growth. It's probably both a notre say that both it that's the thing that would. I'd be curious as to his league we've talked about this where there you're growing your vegetables and side in New England obviously on a daily today and groan went out. No I certainly one of our listeners does point out those that apparently in the marijuana community indoor farming has been the norm you just yet but the cost is gonna come down and out dude LED like. But that's we're trying to help our marijuana friends reduce cost and overhead. Kind of guys we are.