Pure Harvest eyes further growth with $150m strategic Richel Group Partnership

• The exclusive partnership between Pure Harvest Smart Farms and the Richel Group will last for three years • The partnership will deploy over $150 million worth of smart growing systems across the Middle East and Asia

Abu Dhabi, 19 September 2023: Pure Harvest Smart Farms (Pure Harvest), a world-leading, sustainable technology-enabled agribusiness, has entered into a three year, exclusive strategic partnership with Richel Group (Richel), the unparalleled organization providing worldwide turnkey mid-to-high tech greenhouse solutions. With an immediate focus on the Middle East and Asia, the partnership aims to deploy over $150 million worth of smart growing systems with the flexibility to expand the partnership into new geographies.


Sharing a vision for the industrialization, standardization, and professionalization of the Controlled-Environment Agriculture (CEA) industry, Richel will support the design and construction of smart farms across the Middle East and Asia while Pure Harvest leverages its extensive experience in challenging climates. The partnership is currently working on projects in Singapore, Kuwait and Saudi Arabia.

Sky Kurtz, Founder and Chief Executive Officer of Pure Harvest, commented: "Richel has distinguished itself as among the top CEA system integrators in the world demonstrating an openness to embrace an innovative, mutually exclusive partnership model - which will help us to achieve our long-term growth objectives while at the same time consolidating project timelines and working together to reduce build costs."

Furthermore: "We just completed our first-ever project together, executing a technically demanding, bespoke retrofit of the climate management systems of our 11-hectare Al Ain facility. Richel performed extremely well under a tight timeline and project budget and we have high hopes for our future together."

Benjamin Richel, Chief Executive Officer of Richel Group, contributed: "We believe Pure Harvest is truly unique in the CEA world in that they have collected talent from the horticultural industry and married it with best practices from both the technology and construction industries resulting in a company that is focused on creating value at each step of the chain."

Adding: "Six years ago, when Pure Harvest announced that they sought to grow sustainable and healthy fruits & vegetables in extremely hot and humid climates such as the UAE, it was hard to believe. Today, they are an uncontested leader that everyone admires, and we are proud to now contribute to its developments. Richel is very thankful for Pure Harvest's trust in us."

Pure Harvest's vision is to become the world's most efficient tech-enabled agribusiness, allowing the business to serve additional markets, grow the business, continue to attract capital and deliver opportunities to our partners.

Through collaboration, such as this partnership, Pure Harvest anticipates seeing rapid growth within target markets, reduction of building costs and delivery timelines, as well as the delivery of bespoke, technologically demanding farming solutions.

Thanks to this collaboration, Richel aims to further increase its efficiency in designing, manufacturing, and building high-tech greenhouses in challenging climates and distant regions.

ENDS

About Pure Harvest Smart Farms
Pure Harvest Smart Farms is a mission-driven, technology-enabled agribusiness headquartered in the United Arab Emirates, focused on year-round, sustainable production of premium-quality fresh fruits and vegetables. As innovators of the Middle East's first commercial-scale, semi-automated high-tech hybrid growing system, Pure Harvest leverages innovative growing technologies and horticultural best practices to enable local-for-local production of affordable, sustainably grown, clean, fresh produce anywhere. Pure Harvest is pioneering controlled-environment agriculture (CEA) in the MEASA region, harnessing technology to tackle some of the region's biggest challenges, including food security, water conservation, economic diversification, and sustainability needs.

For more information, please visit www.pureharvestfarms.com

About Richel Group
Since it was founded in 1964, Richel Group has developed, manufactured and installed complete greenhouse solutions in more than 95 countries. Its mission consists in delivering reliable, long-lasting and high-performance solutions. This third-generation family-owned company focusing on human relations, long term vision and sustainable agriculture, has managed to become one of the cutting-edge world leading greenhouses suppliers, offering greenhouse solutions for every climate and technology. Keeping its promises, hard-working and open-mindedness are the values that unite its 350 collaborators sharing one goal: "Cultivating trust!".

For more information, please visit www.richel-group.com

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