Growy Singapore, the operator of an 8,000 m² vertical farm near Changi Airport, has gone into provisional liquidation, marking the end of its operations less than a year after the farm's official opening in November 2024.
In a statement dated October 28, director Ramasamy Chockalingam said the company "cannot continue its operations due to its debts." The notice was published in the Government Gazette of Singapore on November 4, confirming that Growy has entered provisional liquidation under the Insolvency, Restructuring and Dissolution Act 2018. Three provisional liquidators from KPMG were appointed the same day.
Growy took over the Singapore facility in 2023 from Kalera International, a U.S.-based vertical farming company that had filed for bankruptcy and sold its overseas operations. The Singapore farm was originally developed with significant government support through the 30×30 Express Grant program by the Singapore Food Agency, which aims to boost local food production to 30 percent by 2030. The site was officially opened by Minister of State Koh Poh Koon, who described it as an important step toward high-tech agriculture.
According to a company statement, the decision to close followed "extensive efforts to attract local investors and strategic partners," but "the path to sustainable profitability ultimately proved unreachable."
"We tried to run the farm with the technology already in place," Growy said. "Although it was one of the most advanced farms in the region, we continued to face high costs and inefficiency. We've invested significant time, energy, and resources and are grateful to our local employees for their dedication and hard work."
Growy added that its own cultivation system, developed in Amsterdam, is now operating successfully in the Netherlands. The system is designed to reduce investment costs, increase automation, and improve energy efficiency. "The experience in Singapore has given us valuable insights into the strengths and weaknesses of different vertical farming models," the company stated.
