This year has been marked with dramatic change for AeroFarms, a controlled environment agriculture leader and aeroponic grower. In the latest of a series of notable developments, the company has set up an auction to divest itself of all assets at its Newark, N.J., production facility.
The Newark facility — built inside of a former steel mill — was AeroFarms’ first indoor farm facility and the company’s headquarters. In April, AeroFarms moved its operations from the Newark site to its Danville, Va., farm facility; in June, the company filed for Chapter 11 bankruptcy.
Related news: AeroFarms’ Marc Oshima ‘optimistic’ in face of Chapter 11 filing
As the dust has settled, and with the transition to Danville now complete, assets in the Newark facility are now being sold through auction.
AeroFarms auction, explained
SecondBloom Auctions, an auction management firm specializing in CEA, has been chosen to oversee the sale of key assets from the Newark facility. The auction will run online from Aug. 28 to Sept. 18, according to a news release.
Related news: AeroFarms transitions N.J. farm to R&D facility
The auction will include specialized agriculture equipment such as lighting systems, automation technology, racking and other vertical farming assets. AeroFarms will also coordinate and oversee the asset removal by winning bidders, with assets removed by Sept. 28, according to the release.
“We look forward to leveraging our expertise to ensure a smooth transition that maximizes value for AeroFarms’ stakeholders,” Chris Lange, CEO of SecondBloom Auctions, said in the release.
Interested parties can learn more about the auction at secondbloomauctions.com.
AeroFarms representatives will be on-site at Newark facility during the preview days on Sept. 7-8. During this time, they will be available to showcase assets and assist potential bidders. Interested bidders can fill out the advanced viewing form on SecondBloom Auctions’ website.
