Innovation Agri-Tech Group Welcomes Bannatyne as Non-Executive Director
07 June 2022: Duncan Bannatyne brings his expertise and entrepreneurial skill to agricultural technology company, Innovation Agri-Tech Group (‘IAG'), having joined the Board of the Company as a Non-Executive Director.
Having joined the Royal Navy at just 15, Bannatyne started his business career at the young age of 20 on Jersey, buying an ice cream van for just £450, before eventually selling the business in order to fund Quality Care Homes - a care home business he sold for £26 million in 1996 - and a children's nursery chain Just Learning, which was sold for £22 million. Bannatyne is a philanthropist and author of seven books, and famous for being a business angel on BBC TV's ‘Dragon's Den'. In 2004, he was awarded the Order of the British Empire (OBE) for his services to charity. His vision, values and passion for enabling successful business launches in the UK and globally, make him such a valuable addition to the board.
Mr Bannatyne joins the IAG board as a Non-Executive Director, having been impressed by the technology developed by the team at IAG and how the future of vertical farming is set to revolutionise the way that we grow food on a global scale.
Duncan Bannatyne, Non-Executive Director at IAG, comments: "On visiting the IAG farm, I was quite amazed at how simple it is to grow food indoors and - importantly - vertically. There is no denying the massive issues effecting people today - such as the terrible situation in Ukraine. However, this isn't by any means the sole factor when considering the global food shortage which has been apparent for decades. As populations continue to grow, we need a new way of producing food as traditional farming methods alone aren't meeting demand, and in my opinion vertical farming is the perfect solution. It complements the work farmers around the world are already doing, and by using aeroponic technology it combats the issues of soil degradation, food miles, seasonality and water useage.
"While many might see vertical farming as some strange Sci-Fi project, it's certainly anything but. Once set up, it's easy to use and can quickly grow a range of produce which is high in nutrition, as well as tasting fantastic. 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.
Jaz Singh, CEO, Innovation Agri-Tech Group says: "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."
About Innovation Agri-Tech
British agricultural technology company, IAG, provides cutting-edge solutions to complement the traditional challenges of farming, specialising in Indoor Vertical Aeroponics, which means they use up to 95% less water than conventional farming, and 70% less water than in hydroponics. IAG has the ability to create urban food production, therefor reducing food miles and offering the opportunity to provide fresh clean, nutritious food closer to the consumer.
IAG's patented flagship system, the GrowFrame, is unique to the global vertical farming market. A modular system, the GrowFrame uses aeroponic irrigation and closed loop water recycling to provide water and highly precise nutrients with no pesticides, as well as being proven to produce a healthier root system and superior crop growth - up to 15 harvesting cycles per year. The roots of plants grown this way are free to absorb the maximum amount of oxygen, without the restrictions of soil compaction. This allows the plants to generate the oils and sugars that give them their flavour much more efficiently, creating strong, vigorous crops that taste delicious and grow much faster with extended shelf life compared to conventional methods.