CubicFarm Launches Local Chain Ag-Tech for Food Security
With a rise in severe droughts, heatwaves, and extreme weather events, the increase in food security is not of particular surprise. It remains a devastating global problem. CubicFarm Systems Corp. has produced a potential solution to overcome food insecurity. This innovation could be on par with the success of vertical farming.
They announced the launch of their local chain Ag-Tech industry on October 21, 2021. During – and following – the beginning of the COVID-19 pandemic, we experienced just how fragile long supply chains are and the lengthy impact this dependence can create. Certain industries are still feeling effects – from shortages to loss of supply chain members – to this day. As such, this British Columbia-based company is seeking to protect resources by localizing food chains and increasing the possibility of indoor crop growth.
To support this venture, they develop agricultural technologies which help farmers produce consistent, indoor, high quality nutritious food and feed all year long. This allows farmers anywhere to grow food for the local community, thereby shortening the supply chain and improving stability.
“The world needs an agricultural revolution and CubicFarms is leading it,” said Dave Dinesen, Chief Executive Officer, CubicFarms. “To save our planet and ourselves, we must grow what we eat where we live. It’s not enough to increase food and feed production. We must eliminate risks to our food supply chains by localizing production and bringing it indoors. By enabling every community to independently and sustainably produce enough fresh food and livestock feed in any climate 365 days a year, our indoor, automated and modular local chain ag-tech represents a whole new way to feed humanity for generations to come.”
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of Canada’s largest Specialist SR&ED tax advisory firms. We manage all facets of the SR&ED tax credit program, from claim preparation and audit compliance to claim disputes.
If you would like to find out more about how your business could benefit from R&D Tax Credit, contact a Swanson Reed R&D Tax Advisor today.