Addleshaw Goddard's Dubai-based corporate team has advised Enspire on its investment into and strategic partnership with Swedish vertical farming specialist Plantagon Agritechture.
Plantagon have developed certain intellectual property in relation to urban vertical farming and are world-leaders within urban agriculture, infrastructural food systems integrating energy, water and waste management. Their landmark project "The World Food Building" in Linköping, Sweden, is attracting global attention and is seen by many as leading the development of large scale and sustainable food production in cities.
Enspire work with governments to preserve and develop their assets. They collaborate with world leaders and bring together public and private enterprise to create the economic architecture that enables long-term, sustainable growth.
Soud Ba'alawy, the Founder and Chairman of Enspire has long experience in financial and infrastructural projects, for corporations as well as cities and nations and sees global food security and sustainable food production as a critical challenge for the future.
"We call it the 'imperative FEW'; every city requires Food, Energy and Water to provide a sustainable living for its citizens. In our work to provide governments with the economic architecture that enables long-term, sustainable growth, Plantagon will play the important role of providing solutions for food security and sustainable food production, and creating symbiotic systems within the cities," says Soud Ba'alawy.
Enspire will work to procure further investment in Plantagon in the coming years (including seeking out regional opportunities to showcase the technology).
The Addleshaw Goddard team was led by Dubai-based Corporate and M&A Partner, Darren Harris, with assistance from Ben Sims, Associate.
Darren Harris stated: "We were delighted to advise the Enspire team on this innovative project. This transaction represents a great partnership between an important regional Middle East-based organisation which has long term sustainable growth at its core and a company that has developed technology which shares those values. This is one of a number of transactions that we have advised clients in the technology and digital sector, which we see as a key area of growth across the region."