Vertical farming pioneers GreenState and Yasai merge

Winterthur/Zurich – Yasai becomes part of GreenState. With the integration of Yasai’s Vertical Farm, GreenState is expanding its production capacities and at the same time tapping into an established sales channel. In future, GreenState’s microgreen products will be marketed under the Yasai brand.

The two Swiss pioneers of the vertical farming industry GreenState from Winterthur and Yasai from Zurich are joining forces. According to a press release, GreenState, which was founded in 2021, is integrating Yasai, a spin-off from the Swiss Federal Institute of Technology in Zurich that was founded a year earlier. According to a press release, the parties have agreed not to disclose the purchase price.

Yasai has been supplying Coop, Farmy and Jelmoli, among others, with herbs from its Vertical Farm in Niederhasli ZH since 2022. Vertical farming requires very little water and does not need any chemical pesticides. Local production throughout the year also reduces transportation emissions.

GreenState has been producing basil and young, edible seedlings for the retail trade in a self-developed indoor farming module system in a converted SIG industrial hall in Neuhausen SH since January of this year. GreenState offers these modular systems in another line of business in a franchise model. The so-called microgreens from Neuhaussen will also be marketed under the already established Yasai brand in future. The Yasai brand and operations will continue unchanged.

"With the integration of Yasai, we are expanding our production capacity and at the same time opening up an established sales channel," said Arsenije Grgur, CEO and Chairman of the Supervisory Board of GreenState. For his counterpart at Yasai, Stefano Augstburger, the merger is "a classic win-win situation: we gain access to liquidity and growth potential, GreenState makes a leap forward in terms of realized production capacity and sales volume." ce/mm

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