Largest vertical farm in the US, is being shut down.

Auctioneer SecondBloom and the M. Davis Group will conduct a complete liquidation of the $70 million Bowery Farming vertical farming facility in Locust Grove, Georgia. The 200,000-square-foot farm represents one of the largest vertical farming facilities to be liquidated in the history of the industry.

It contains over $32 million in new equipment that was never commissioned. Automation, lighting, irrigation, and packaging systems, which were never used, will be removed.

This facility represents the pinnacle of vertical farming technology—a $70 million investment in fully integrated systems that were never used, said Chris Lange, president of SecondBloom Auctions.

The liquidators have already listed the unique vertical farm equipment for auction. They believe this exceptional sale is a rare opportunity for agricultural businesses, research centers, and equipment integrators to acquire cutting-edge vertical farming technology at a significant discount.

They emphasize that the equipment was professionally installed, tested for functionality, and is in perfect condition, meaning it is ready for immediate commissioning or integration into existing processes.

At auction, items will include Logiqs AS/RS handling systems, H2O Engineering water purification systems, Stolze automated fertigation and cleaning-in-place (CIP) systems, new Fluence LED lights from Signify, and more.

Bowery Farming is a New York-based agtech startup known for its innovative approach to agriculture. The company created vertical farms for growing lettuce, herbs, and berries. It has successfully raised over $700 million from renowned venture capital firms such as First Round Capital, General Catalyst, and GV. Its most recent funding round in 2021 valued the company at over $2 billion.

The closure of Bowery Farming highlights the challenges facing the vertical farming industry. Bowery Farming experienced several rounds of layoffs in 2023. Other companies in the sector, such as AeroFarms and AppHarvest, have also filed for bankruptcy.