Author: Gail Taylor, Dean of Life Sciences, UCL

Plant factories are failing, with multiple companies closing or going bankrupt in recent months. This includes the largest vertical farm on the planet, in Compton, Los Angeles. Owned by San Francisco-based startup Plenty, the farm opened in 2023 to grow salads in partnership with Walmart. It was mothballed at the end of 2024, with the company citing the rising cost of energy in California as a major problem. Despite raising over US$1 billion (£802 million) from investors, the company’s value has reportedly plummeted from US$1.9 billion to below US$15 million. It now aims to focus solely on strawberry production in…

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