Kalera AS

07/30/2021 | Press release | Distributed by Public on 07/30/2021 00:00

Kalera AS: Kroger supply and Atlanta and Houston Updates

ORLANDO, Fla., July 30, 2021 -Kalera (Euronext Growth Oslo ticker KAL: Bloomberg: KSLLF), one of the fastest-growing and largest vertical farming companies in the world and a leader in plant science for producing high-quality produce in controlled environments, announces that today they will complete the installation of new electrical components in their Atlanta farm to correct a fault which caused intermittent outages referred to in a press release dated June 15, 2021. All components replaced in Atlanta in recent weeks have been operating well with no repeat of previous outages. Additionally, the installation of identical components will be completed shortly in Houston, with the first harvest anticipated in September. The construction costs in Houston have remained close to initial budget despite a few weeks of general construction delays and the replacement of the aforementioned electrical components. Kalera also announces that this fall they will begin supplying their locally produced, long-lasting, better than organic, leafy greens to approximately 400 Kroger stores from their Atlanta and Houston farms. Kroger is the United States' largest supermarket chain and this announcement complements the over 440 Publix stores Kalera is supplying in the Central Florida region from their Orlando farm. 'We're excited to have the opportunity to partner with Kroger at not just one, but two distribution centers across the country,' said Daniel Malechuk, CEO of Kalera. 'It's apparent that consumer trends continue to shift towards cleaner, safer, more nutritious, fresher, pesticide-free, locally grown produce. Our products have significant benefits for consumers over traditionally farmed products, yet we believe in making our products available to the masses at conventional pricing levels. You shouldn't have to pay huge premiums to experience better produce.' Kalera recently opened one of the world's largest indoor vertical farms in the Atlanta, GA market and anticipates their first harvest from their new Houston, TX facility, which is 25% larger than Atlanta, to be in September. As one of the fastest growing companies in the controlled environment agriculture industry, Kalera completed these projects in less than a year and these facilities incorporate the latest in facility design and system enhancements that include improvements to stack irrigation, climate control systems, air flow, and new generation state of the art grow lights which when tuned will generate higher yields and enhanced cost efficiency per unit produced. 'As the leader in vertical farming, Kalera's rapid expansion with a soon national footprint, allows us to offer large national retail and foodservice customers what others in our space can't, consistency of supply of hyper-local product just short distances from their distribution points across the country,' said Malechuk. 'Fuel costs and truck driver shortages have pressured long supply chains and resulted in inflated costs for traditionally grown produce. These challenges, combined with those created by wildfires, droughts, and food safety recalls continue to illustrate how Kalera is an important part of the future of farming.' For further information: Daniel Malechuk, CEO Email: [email protected] About Kalera Kalera is a technology driven vertical farming company with unique growing methods combining optimized nutrients and light recipes, precise environmental controls, and clean room standards to produce safe, highly nutritious, pesticide-free, non-GMO vegetables with consistent high quality and longer shelf life year-round. The company's high-yield, automated, data-driven hydroponic production facilities have been designed for rapid rollout with industry-leading payback times to grow vegetables faster, cleaner, at a lower cost, and with less environmental impact. To learn more visit www.Kalera.com.