CubicFarm Systems

CubicFarm Systems Corp. is an agricultural technology firm that provides automated, modular systems for localized, indoor agriculture. The company operates through two main divisions: the Fresh Division and the Feed Division. The company's origins trace back to 2008 when farmers Jack Benne and his son Leo Benne, founders of Bevo Farms, conceptualized an indoor growing system after witnessing the devastation of a hurricane on a farm in Puerto Rico. This led to the official founding of CubicFarm Systems in 2015 to develop technologies for a more resilient and local food supply.

The Fresh Division is centered around the patented CubicFarm System, which utilizes "Crop Motion™" technology. This system automates the movement of hundreds of growing trays along a path under a single row of LED lights, ensuring plants receive optimal light, water, and airflow. Housed within customized shipping containers, this hydroponic system is designed to grow leafy greens, herbs, and microgreens with significant resource savings, using up to 95% less water and no pesticides compared to traditional farming. The design also reduces labor costs by bringing trays to a single point for harvesting and planting.

The Feed Division features the HydroGreen Automated Vertical Pastures™, a technology developed by Dihl Grohs and acquired by CubicFarms in 2019. This system is designed for the on-farm production of nutritious livestock feed. It sprouts grains like barley and wheat in a controlled, soil-free environment, taking just six days from seed to feed. The fully automated process manages seeding, watering, lighting, and harvesting, enabling year-round production of fresh forage with 95% less water than irrigated crops. A single system of twelve modules can replace 500 acres of farmland. The resulting feed is highly digestible and has been shown to reduce methane emissions in cattle. To expand its market reach, HydroGreen also offers a "Feed as a Service" (FaaS) model, where the company owns and operates feed centers, selling fresh feed directly to livestock producers.

As a publicly-traded company, CubicFarms generates revenue through the sale of its CubicFarm and HydroGreen growing systems and related installation services. However, the company has faced financial difficulties, including being delisted from the Toronto Stock Exchange in December 2023 and subsequently trading on the TSX Venture Exchange. Financial reports from late 2023 and early 2024 show significant net losses, although the company has implemented cost-cutting measures to improve its financial standing. The British Columbia Securities Commission issued a cease trade order in mid-2024 due to delays in financial filings.

Keywords: agricultural technology, indoor farming, vertical farming, controlled environment agriculture, hydroponics, local food systems, automated growing systems, livestock feed production, sustainable agriculture, Crop Motion technology, HydroGreen, Automated Vertical Pastures, ag-tech, fresh produce, leafy greens, forage production, water conservation, local chain agriculture, smart farming, Feed as a Service