On February 14, foreign media reported that in July last year, Bustanica, the world's largest hydroponic vertical plant factory, opened in Dubai. Signify provided corresponding plant lighting products to help the factory provide a large amount of spinach and plumage for aviation catering. Vegetable foods like kale and lettuce. Recently, Signify released the latest photos of the Bustanica factory, showing the recent operation of the vertical farm.
According to the data, Bustanica is a fully indoor vertical farm with artificial lighting. It is located next to Al Maktoum International Airport in Dubai. With a height of 18 meters, it claims to be the indoor plant factory with the largest planting area. The factory started operations in July last year and can produce about 1 million kilograms of green leafy vegetables per year.
The plant factory is operated by Emirates Crop One, a joint venture between Dubai-based Emirates Catering and vertical farming company Crop One.
It is reported that at present, Emirates Catering Company provides catering services for 100 airlines including Emirates, and needs to provide about 200,000 meals a day. In addition to supplying to airlines, it also needs to provide catering services to Al Restaurants and lounges at Maktoum International Airport and Dubai International Airport, as well as private jets and events. The Bustanica plant factory provides green leafy vegetable food for a large number of daily aviation catering services.
The Emirates Catering Company stated that the company currently has 27 plant factories. Through the correct environmental control and lighting formula, it can grow any green leafy vegetables it needs in the most efficient and effective way.
Although the Bustanica plant factory lit by Signify is in normal operation, in contrast to the LED plant lighting industry, the growth rate of the industry is slowing down due to the decline in terminal demand. Foreign media pointed out that, like some other lighting and LED suppliers, the growth of Signify's plant lighting business is declining.
Previously, Signify had a positive and optimistic attitude towards the plant lighting market in the first half of 2022. In the first quarter of 2022, Signify pointed out that the plant lighting business in the United States performed strongly, driving the sales of its digital solutions business to grow by nearly 24% in nominal terms.
In the 2022 semi-annual report, Signify also mentioned that the horticultural lighting market in North America is full of driving forces, and it is expected that as the demand for medical cannabis in North America continues to grow, the sales revenue contribution of the company's horticultural lighting company Fluence in the second half of 2022 can increase. Hope to improve.
But after the third quarter, the growth rate of the horticultural lighting market seems to slow down again.
Foreign media said that after the end of the third quarter of 2022, Signify CEO Eric Rondolat revealed that the growth of the plant lighting business has slowed down. Although LED lighting can save a lot of energy costs, for the upfront cost of LED lighting, the terminal planting unbearable.
Foreign media also mentioned that in the recent fourth quarter performance report, Signify did not mention the latest status of the plant lighting business, and Signify's Fluence, which focuses on plant lighting, pointed out that cannabis is an important market for plant lighting, and demand weak.
Although the current market demand for plant lighting has declined, Signify is still optimistic about the long-term development of plant lighting. In the latest 2022 annual report, Signify mentioned that the market space for smart lighting and plant lighting continues to expand. Under the circumstances, related businesses will also be an important source of income for Signify in the future.
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