Red Sea Farms
FII Institute invests in revolutionary saltwater solution, Red Sea Farms
Riyadh, June 06, 2021: Growing crops like organic tomatoes with saltwater – can it be done? The global FII Institute is a next-generation NGO bridging the worlds of expert-led Think Labs and real-world solutions. With a mandate to action, the Institute today announced an investment in Red Sea Farms, whose breakthrough technology is making it possible to grow food sustainably using a 50/50 mixture of fresh- and saltwater instead of only freshwater.
The Agriculture Technology (AgTech) project represents globally relevant innovation that FII Institute is championing by investing in four critical areas: Sustainability, Artificial Intelligence, Robotics and Healthcare. Helping farmers become less reliant on freshwater in water-scarce areas of the world, Red Sea Farms – based at King Abdullah University for Science & Technology (KAUST) – works today to help ensure water security in the future.
Remarking on the decision of the independent FII Institute board of trustees, CEO Richard Attias said, “There is no doubt that water is the next big issue facing humanity. What we need today are actionable solutions that allow us to take sure steps towards reversing the cycle and reclaiming that future. By partnering with innovators like Red Sea Farms and KAUST, we take the world's best ideas out of the labs and make them accessible to a market looking for answers. We invest in a future for all."
Ryan Lefers, CEO, Red Sea Farms, “Our Red Sea Farms’ partnership with the FII Institute will help us grow our business responsibly while maintaining a deep focus on mission – to feed the planet sustainably by delivering innovative, saltwater-based agricultural systems. Our unique approach to growing produce in harsh climates is founded on principles that raise the bar for environmental, social and governance standards. Working with the FII Institute will allow us to be an example of best practice to the agriculture technology industry here and across the globe.”
Red Sea Farms marks the second FII Institute investment this year following an announcement in April to back Lilium, an electric-powered aircraft offering a more sustainable alternative to carbon-intensive regional travel. Working continuously to catalyze change where it is needed, the Institute brings together leaders and great minds in an inclusive agenda built on three pillars – THINK, XCHANGE, ACT – and calls for a united effort in service of humanity