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April 24, 2024

Holland & Hart Represents Vertical Harvest in $58 Million Project Financing

Holland & Hart represented Vertical Harvest, a developer of sustainable local food solutions via hydroponic, vertical, and controlled environmental agriculture (CEA), in connection with its $58M project financing agreement to complete the construction of its 52,000 square foot indoor farm in Westbrook, ME.

The Westbrook farm construction completion represents the first major step in executing Vertical Harvest’s expansion plan to energize local food systems to deliver healthier foods and improved quality of life in communities. The Westbrook farm is slated to produce 2 million pounds of produce annually and provide fresh nutritious produce to schools, hospitals, restaurants, markets, and consumers. The project financing components were from an array of government-backed programs including USDA REAP and B&I, as well as the State of Maine’s newly adopted Commercial Property Assessed Clean Energy (C-PACE) program.

Read more about the project on Vertical Harvest’s website here.

The Holland & Hart transaction team was led by partner Amos Barclay and George Singer, with assistance from Eric Dante, Stuart Knight, Jeremy Syz, Lori Argall, and Tim Percival.

Holland & Hart’s Corporate group works closely with companies throughout their lifecycles to provide swift, strategic, and cost-effective counsel. From day-to-day business operations to major transactions, Holland & Hart attorneys guide companies of all sizes through the complex regulatory, commercial, financial, and governance matters critical to a thriving enterprise.


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