HAMILTON — Hamilton-based vertical farming company 80 Acres Farms announced Monday that it is winding down operations after failing to secure the financing needed to continue the business. In a statement, the company said it had made "an exhaustive effort to find a way forward" but ultimately could not obtain the capital required to keep operating. "For a decade, our team has proven that vertical farming can work at scale—building and operating indoor farms that ultimately supplied more than 18,000 retail locations across the U.S.," the company said. "Unfortunately, under current circumstances, we could not secure the capital required to continue that work." 80 Acres Farms has been one of the nation's leading vertical farming companies, producing leafy greens, herbs, microgreens and salad products inside climate-controlled indoor facilities using hydroponic growing systems. The company said its technology uses 100 percent renewable electricity and up to 95 percent less water than traditional farming. The Hamilton-based company expanded rapidly over the past decade, with its products sold in more than 17,000 retail locations nationwide. Just weeks ago, the company highlighted the advantages of indoor farming during a nationwide Cyclospora outbreak, noting that its closed-loop growing system eliminates many of the contamination pathways associated with outdoor agriculture.

The company thanked its employees, retail partners and the communities that supported its growth. "We have seen vertical farming's potential up close, and we still believe that this industry is just getting started, and that we have helped plant the seeds for generations of future harvests," the statement said. The announcement did not specify how many employees will be affected or provide a timeline for winding down operations. The company's headquarters are located at One Renaissance Center in downtown Hamilton.

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