Dubai-based Pegasus Agriculture plans hydroponic farm in Florida
The company has acquired a 15-year lease on 77 acres in Florida and has an option to lease the land for 15 more years once the contract ends. The project will give the company better access to North American markets.
Climate change has affected Florida growing conditions the past few years, resulting in a decrease in crop production. Pegasus Agriculture believes that its hydroponic technology can help assure long-term food security in the region.
Pegasus Agriculture owns and operates hydroponic farming facilities in the Middle East and North Africa (MENA). The company also has offices in London, Singapore, Hong Kong and Portugal and has additional planned farms in areas such as Singapore, Qatar, Malaysia and Turkey.