By KEN AMUNDSON | BizWest / Prairie Mountain Media
PUBLISHED: November 16, 2022 at 2:10 p.m. | UPDATED: June 3, 2023 at 9:23 a.m.
Intelligent Growth Solutions, a Scotland-based agricultural infrastructure company that supplies vertical farming technology to growers, has selected Loveland for expansion.
The company will receive a state of Colorado economic development grant for nearly $2.8 million and commit to adding 114 new jobs that pay an average $98,991, according to information provided at an Office of Economic Development and International Trade meeting in October.
The company will locate in The Forge, which is the former Hewlett-Packard Co. facility.
“IGS’ technology, mission and people are a perfect fit for the ag-tech ecosystem that continues to flourish across our region and in Loveland,” said Kelly Jones, city economic development director.
“Northern Colorado provides tremendous value to a diverse range of industries, and we are proud of this truly collaborative, regional effort to bring this innovative company, as well as high paying jobs, to the area.”
IGS designs, produces and maintains vertical farming technology that enables indoor growing anywhere. The new Loveland facility will be the company’s North American installation and will service customers in the United States and Canada, the company’s fastest-growing market, according to the OEDIT information.
The company’s technology eliminates the need for pesticides or fungicides and reduces water consumption by up to 95%, according to a press statement. Because no arable land is required, the systems can also be used to reduce the carbon footprint of food production by locating farms closer to the point of consumption or production.
“The forward-looking approach to economic development within the city of Loveland and the state of Colorado fits perfectly with Intelligent Growth Solutions’ purpose of working with growers to help deliver sustainable food security,” David Farquhar, CEO of IGS, said in a written statement.
“The location is within easy reach of a huge market as well as supply chain partners and is a great place for our people — and their families — to live, with 300 days of sunshine and just 30 miles from Rocky Mountain National Park.
“The location of our North American headquarters is a pivotal decision in our evolution as market leader. We are confident that our new Loveland base will allow our rapidly growing business to continue to expand and thrive on a global platform, as we deliver vertical farming infrastructure to enable real farmers to grow an expanding range of crops reliably, profitably and sustainably because we give them total control of the weather for the first time designed in Scotland manufactured in Colorado.”
The expected workforce in Loveland will increase IGS staffing by 50%. Positions in Loveland will include engineers, supply-chain managers, human-resource and legal managers, as well as roles in marketing and sales.
“Innovative companies like IGS are building on Colorado’s strong agricultural heritage to create a future-thinking ag tech industry that will feed communities and support a thriving economy across our state. We are pleased to see Loveland become IGS’s North American headquarters and look forward to celebrating future accomplishments,” said Patrick Meyers, OEDIT executive director. In addition to Colorado, the company considered Washington and Massachusetts.
Jay Dokter, general partner of the Forge Campus, said the company will benefit from the collaborative nature of the companies that call the Forge home.
“Forge Campus is a collaborative campus ecosystem designed for growing businesses that engineer and build innovative applications for advanced technology,” Dokter said. “The life changing technology patented by IGS is a natural fit and exactly what our planet needs.”
Intelligent Growth Solutions was founded in 2013. In August 2018, IGS launched its Crop Research Centre in Dundee, and the business has since established a customer base across four continents. The company said that it has raised more than $66.8 million in investment across two institutional fundraises (Series A concluding in September 2019 at $8.6 million and Series B concluding in November 2021 at $58.2 million).
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