Sundrop Farms, a privately owned enterprise, uses existing technology to grow tomatoes in the desert. Powered by solar panels, the company uses sunlight and seawater to heat and cool plants all year-round.
This has caught the attention of partners Coles supermarket, that gave out a 10-year contract to supply them with tomatoes early next year. Together with this is an expansion fund from International private equity giant KKR, for $100 million.
Sundrop is ready to offer Coles a steady supply of fresh tomatoes that are fixed in price, and a promise of less drought seasons, unlike what you normally get if naturally grown. Sundrop is expected to deliver the first tomatoes to Cole in the first half of 2016.
On an international scale, the application of this to areas like the Middle East is undeniable. Because the Middle East is abundant with sunlight and seawater, it is the most likely candidate to adapt to this innovative technology. KKR could point out lots of opportunities to use Sundrop's sustainable agricultural technology in all parts of the world including Spain, Portugal and North America.