Pure Harvest and Richel Group ink $150M partnership
Added on 19 September 2023
Pure Harvest Smart Farms (Pure Harvest), a world-leading, sustainable technology-enabled agribusiness, has entered into a three year, exclusive strategic partnership with Richel Group (Richel), the unparalleled organization providing worldwide turnkey mid-to-high tech greenhouse solutions. With an immediate focus on the Middle East and Asia, the partnership aims to deploy over $150 million worth of smart growing systems with the flexibility to expand the partnership into new geographies.
Sharing a vision for the industrialization, standardization, and professionalization of the Controlled-Environment Agriculture (CEA) industry, Richel will support the design and construction of smart farms across the Middle East and Asia while Pure Harvest leverages its extensive experience in challenging climates. The partnership is currently working on projects in Singapore, Kuwait and Saudi Arabia.
Sky Kurtz, Founder and Chief Executive Officer of Pure Harvest, commented: “Richel has distinguished itself as among the top CEA system integrators in the world demonstrating an openness to embrace an innovative, mutually exclusive partnership model - which will help us to achieve our long-term growth objectives while at the same time consolidating project timelines and working together to reduce build costs.”
Furthermore: “We just completed our first-ever project together, executing a technically demanding, bespoke retrofit of the climate management systems of our 11-hectare Al Ain facility. Richel performed extremely well under a tight timeline and project budget and we have high hopes for our future together.”
Benjamin Richel, Chief Executive Officer of Richel Group, contributed: "We believe Pure Harvest is truly unique in the CEA world in that they have collected talent from the horticultural industry and married it with best practices from both the technology and construction industries resulting in a company that is focused on creating value at each step of the chain.”
Adding: “Six years ago, when Pure Harvest announced that they sought to grow sustainable and healthy fruits & vegetables in extremely hot and humid climates such as the UAE, it was hard to believe. Today, they are an uncontested leader that everyone admires, and we are proud to now contribute to its developments. Richel is very thankful for Pure Harvest’s trust in us.”
Pure Harvest’s vision is to become the world’s most efficient tech-enabled agribusiness, allowing the business to serve additional markets, grow the business, continue to attract capital and deliver opportunities to our partners.
Through collaboration, such as this partnership, Pure Harvest anticipates seeing rapid growth within target markets, reduction of building costs and delivery timelines, as well as the delivery of bespoke, technologically demanding farming solutions.
Thanks to this collaboration, Richel aims to further increase its efficiency in designing, manufacturing, and building high-tech greenhouses in challenging climates and distant regions.