Photosynthetic – a new brand launched by LED Technology company Rift Labs aims to revolutionize Vertical Farming and Controlled Environment Agriculture
(Dortmund, Germany 28th of September 2022)
Climate change, electricity costs, war, scarcity of water, soil degradation and inefficiencies in food production are putting enormous pressure on our global supply chains, which is faced with the additional challenge of feeding 9.8 billion people by 2050.
Vertical Farming is seen as a potential solution, as it enables growing food locally all-year-round, regardless of weather, using much less space and water than traditional agriculture, with a much smaller environmental footprint. However, a core challenge in vertical farming today is the associated energy consumption and labor costs, where artificial lighting is one of the main cost drivers, exacerbated by inflation and rising energy costs.
Award-winning LED technology pioneer Rift Labs is proud to announce the launch of a new brand Photosynthetic, offering advanced lighting solutions which are pushing the boundaries of Controlled Environment Agriculture (CEA), aiming to improve yield and quality of the product, reduce production costs and help growers achieve profitability.
Photosynthetic already have some of the largest vertical farms in the world on their customer list, and offer the following solutions:
- Self-contained R&D Lab for plant science and growth optimization
- Tailored lighting solutions for production (both static and dynamic options)
- Farming management software (cloud-based), including AI and machine learning features
A core part of the offering is Rift Labs’ patented LED technology, which involves the use of complex mathematical models for mixing light, enabling extremely precise control and consistent high-quality lighting across all intensities, temperatures, and wavelengths. By fine-tuning and automating all inputs and outputs, using an optimized spectrum with intensity limited to the precise amount of light a plant can absorb at a given time in its life cycle, growers will be able to reduce energy costs, achieve higher yields and improve the product for the consumer.
“We want to make it easier for growers to understand how different growth conditions and lighting setups impact their crops and make use of these insights to make the right technology decisions, optimize production processes, produce more at higher quality, save energy and labor. We are extremely excited to launch Photosynthetic as a new brand and growth platform.” says Halvard Aagaard, CEO of Rift Labs.
Photosynthetic primarily targets vertical farms, industrial greenhouses, and other growers, but the solutions will also be highly relevant for anyone working with plant science, such as universities, research institutions, and even within the pharmaceutical and cosmetics industries.
Raised ~$5M in funding since June 2021 to ramp up Photosynthetic
Rift Labs has strategically raised a significant amount of capital to enter this market and have been working with partners ONNA (vertical farm) and Crayon (cloud technology provider) since autumn 2020 to develop Photosynthetic’s solutions, through several projects which have been supported by Innovation Norway, The Norwegian Research Council and RFF Viken.
“The solutions from Photosynthetic have the potential to become an exciting breakthrough not just in agriculture, but for the whole food production system” says customer Reinier Wolterbeek, Interim CEO & CPO of ONNA, Large Scale Vertical Farm.
According to Fortune Business Insights, the market for vertical farming is expected to grow significantly from $3.47bn in 2021 to $20.91bn in 2029 with a CAGR of over 25% due to continued ESG-focus in food production, combined with ever increasing uncertainty in global supply-chains and desire to improve self-reliance. With a huge demand for innovative LED lighting solutions, Rift Labs’ Photosynthetic is perfectly positioned to become a leader in this industry.
About Photosynthetic – a Rift Labs brand
Photosynthetic is a lighting solution brand developed by LED technology company Rift Labs, made in Norway, Scandinavia with a proud history of manufacturing award-winning products and lighting software for the global market since 2010.
We are on a mission to explore the spectrum of light to create amazing products loved by people, plants and planet.
The headquarter of Photosynthetic is located in Vinterbro, Norway with offices in Oslo and Berlin.
For more details, please contact:
Øyvind Hasund Dahl
Chief Revenue Officer
Photosynthetic C/O Rift Labs AS
Sjøskogenveien 5
1407 Vinterbro
Norway
