Netled inks a €15 million deal with potted herb grower Oh My Greens from Sweden

PIRKALA, Finland: Netled and Oh My Greens (OMG) have signed a contract for a three-year investment programme that will see Finnish-based Netled deliver its Vera vertical farm to OMG, a Swedish supplier of potted herbs. The agreement was signed in June 2021 and is worth 15 million euros over three years.

The contract includes a five-year maintenance and cultivation consultancy service. It is estimated to be one of the largest turn-key technology deals specifically between a technology provider and farm operator in the indoor agriculture market to date.

The first delivery for the project is under way and is valued at 3.2 million euros; it is due in the second quarter of 2022. After commissioning, Netled will continue to provide technical and consultancy services while OMG will focus on producing and supplying vegetables to retailers in Stockholm. The second phase of the investment plan is due to start in the fourth quarter of 2022.

OMG is a farm operator company providing consumers with potted herbs and has ambitions to achieve a significant market share in Sweden by the end of the investment programme.

OMG is part of Applied Value Group, a Swedish-American investment, management consultancy, and social impact firm. OMG operates in Sweden together with its sister company, Bake My Day (BMD). BMD is a 25 million USD revenue company serving 800 customers with daily deliveries including around 400 grocery stores. Working together, BMD and OMG can offer a wide range of the highest quality fresh food products to retail throughout Stockholm and the Mälardalen region, covering 40 per cent of the Swedish population.

OMG boss Moses Isik announces, “We considered 17 different vertical farming technology providers and came to the conclusion that, in terms of its technology, know-how, and delivery capabilities, Netled is years ahead of the competition.”

He continues, “Netled’s technical and horticultural knowledge, and decades of experience of growing technologies, combined with OMG’s superb logistic network and existing customer relationships. Together we will create an unbeatable competitive advantage, allowing us to quickly increase our market share and supersede traditional herb production with sustainable and ecological vertical farming that will disrupt the existing supply structures.

“Netled’s Vera vertical farming technology will allow us to provide customers throughout Sweden with fresher herbs and leafy greens, grown hyper-locally and with a significantly reduced carbon footprint”, Moses adds. “Not only does the customer benefit, but the planet does too.”

Netled is the leading vertical farming technology provider in Finland. Netled’s Vera technology offers turn-key indoor farming systems including a dynamic spacing system, LED lighting, HVAC, and a nutrition system. It also includes automation software, production management and horticulture intelligence software. The Vera family of growing systems range from the instore growing cabinets to massive-scale industrial systems.

Netled boss Niko Kivioja articulates, “The cooperation with OMG and its sister company, BMD, creates a huge opportunity for Netled to increase its market presence in Sweden. It also solidifies our position as the global leader in vertical farming technology.”

This contract is the first industrial-scale operation for Netled, which was previously focused on an urban farm scale.