Scottish entrepreneur, investor, philanthropist and author Duncan Bannatyne OBE has been appointed as non-executive director for the vertical farming pioneer, Innovation Agri-Tech Group (IAG). Bannatyne, renowned for being a business angel on the BBC program, Dragon’s Den, is also the founder of The Bannatyne Group.
Revolutionising the way we grow food on a global scale, IAG specialises in indoor vertical aeroponics, providing solutions to conventional farming challenges.
Flagship Patented System
The GrowFrame TM is the company’s flagship patented modular system which uses aeroponic irrigation and closed loop water recycling. Using up to 95 per cent less water than traditional farming, it can provide pesticide free nutrients and promises superior crop growth, with up to 15 harvesting cycles per year.
Efficiently allowing crops to absorb oxygen and generate all the oils and sugars they need to taste delicious; these crops grow faster and have an extended shelf life.
Endorsing the Idea, Bannatyne Said:
“While visiting the IAG farm, I was quite amazed at how simple it is to grow food indoors and, above all, vertically. There is no denying the enormous problems facing people today, such as the dire situation in Ukraine. However, this is by no means the only factor when considering the global food shortage, which has been evident for decades. As the population continues to grow, we need a new way of producing food as traditional farming methods alone do not meet the demand. And in my opinion, vertical farming is the perfect solution. It completes the work that farmers around the world are already doing and using aeroponics technology, tackles the problems of soil degradation, food miles, seasonality and water use.”
Bannatyne’s Business Career
Awarded an OBE in 2004 for his charity work, Bannatyne began his business career when he was 20 years old by buying an ice cream van for just £450. He went on to sell his ice cream business in order to fund Quality Care Homes, which he would later sell for £26 million.
Describing the idea behind IAG as “amazing”, Bannatyne went on to say:
“This is exciting – and it’s only the beginning. I’m looking forward to the journey with IAG – and how vertical farming will play an increasingly vital role in the food chain supply moving into the future.”
Welcoming Bannatyne to IAG, CEO, Jaz Singh Said:
“We’re delighted to welcome Duncan to the board of IAG. Having such a fantastic ambassador for vertical farming can only be beneficial for us as we look to take our business from the R&D phase to market. It’s a really exciting moment and we genuinely believe that vertical farming is the technology of the future.”
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