Converted Organics (COIN) Enters Vertical Farming Industry With TerraSphere Systems Purchase

Vertical farming is an increasingly popular way for urbanites to take advantage of smaller spaces and enjoy the benefits that their fertile land owning neighbors enjoy.  The “eat locally, eat organic” revolution is the catalyst for the growth in organic, urban farming and those companies that sell vertical farming products could do extremely well in the decades to come.  One such company is a company out of Massachusetts called TerraSphere Systems and Converted Organics (COIN) announced their intentions this morning to purchase the company for a whopping $26 million.  Keep in mind that Converted Organics did less than $3 million in revenue last year, so this is a major purchase and a big bet on the  growth in vertical farming. The all stock transaction still must still be approved by shareholders.

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TerraSphere’s proprietary technology generates pesticide free organic fruits and vegetables year round in any location and any climate.  They hold 3 US patents, have several international patents pending and claim that their growing methods produce 10x greater crop yield per square foot.  The company has deals in place for $4.49 million so far this year and are partnering with Western Canada’s largest grocer of natural and organic food, Choices Market.

Converted Orgnanics President Edward Gildea commented: “Converted Organics’ acquisition of TerraSphere would expand our growing portfolio of sustainable, environmentally-friendly businesses, and would provide an immediate revenue stream for our Company.  We believe TerraSphere’s unique business model and range of patents will allow Converted Organics to quickly emerge as an early leader in the dynamic, new vertical farming industry. We are confident that the acquisition of TerraSphere will provide a number of exciting new growth opportunities for Converted Organics and help us generate value for our customers, partners and shareholders.”

Shares of COIN are up nearly 4% today but continue to trade at well under a buck.  In my opinion, it’s a bit early to jump in but could offer a real nice lotto ticket play soon at nearly .50/share.

One thought on “Converted Organics (COIN) Enters Vertical Farming Industry With TerraSphere Systems Purchase”

  1. You need a tab for “Vertical Farming”

    by you following this sector you will be putting your website on the map!

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