A smart soil-less system for growing food sustainably and economically with unique fog-based technology.
- Proprietary aeroponics technology with a global IP portfolio
- Successful commercial trials carried out in UK & Kenya
- Disrupting $17 billion seed potato market with others to follow
- First large-scale sale (US$1.5m) secured in Middle East region
The world has a problem – how to feed a growing population sustainably. Airponix’s game-changing technology will solve this by growing high quality produce with no soil, 95% less water and more effectively and sustainably than any other methods, including hydroponics.
We surround the roots of plants with a nutrient-rich fog inside an A-frame or form factor.
•Fog fills chambers feeding > 1,000 plants with no lifting or fluid circulation system requiring wasteful periodical replacing of fluids due to bacterial build-up or for a change in nutrient concentration – low opex.
•Dry fog penetrates the root hairs rather than saturating, allowing them to breath & not suffocate.
•Access to roots on inside very beneficial for some root crops e.g. seed potatoes
•We have strong IP protection – mix of patents, exclusivity agreements & know-how, primarily focused on fog-generation tech, but also nutrients and operations.
Substantial accomplishments to date
With £1.5 million funding received to date, we have developed and proven our technology, conducted successful commercial trials, and commenced commercialising our system (post revenue):
Below is a summary of our accomplishments:
•After a 24-year career with Shell International developing and deploying novel technologies & turning radical disruptive ideas into reality as a Shell Gamechanger, I founded Airponix to solve the challenges of feeding a growing population sustainably.
•We secured Innovate UK & Eurostars grants (£770K), Centrica Innovations seed funding (£485K), HNW individuals (£200K) & paid pilots/sales (£60K). These covered R&D, developing our MVP, establishing supply chains, and securing a global IP portfolio.
•First US$ 1.5 million sale where we will provide the whole turn-key solution and then operate the facility on behalf of the client.
•Successful commercial trials with UK’s and Kenya’s largest seed potato producers over the last 3 years trialling many seed potato varieties required by the largest growers.
•A paid for pilot by PepsiCo allowed us to prove new industry-leading techniques for seed tuber production such as trialling game-changing true hybrid potato seed.
•Besides seed potatoes we have trialled a wide range of crops such as strawberries, leafy greens, vegetables, berries, maize, soya, etc at our Norwich, NIAB (Cambridge) and University of Reading glasshouses.
•One of 12 “Finalists” in UAE’s Foodtech Challenge 2023 (out of 669 applications from 79 countries).
•In early B2B commercial sales conversations for UK, India, and Middle East (food security and minimum water requirements strong market drivers) sales and scale pilots.
Over the next 5 years we will aim to scale commercially by expanding our products and geographies, and build the capability of the business, continuing with our B2B focus:
• Business model to initially sell systems with depth of ongoing partnership support depending on need; over time we will evolve to growing on behalf of others / ourselves if conditions are right.
•We aim to expand into adjacencies for (i) produce (e.g. berries in the Middle East), (ii) add-ons (e.g. data and nutrient supply), and (iii) other uses (e.g. medical growing and compounds in roots).
•The next 18 months will focus on sales, scale pilots, trials / R&D and developing the B2C ‘home allotment’ system.
•Out to 5 years, we will scale commercially while continuing to develop our systems - UK & international growth, system development, evolving the business model, develop our operating model and form Joint Ventures.
Use of proceeds
• Funding of core B2B activities - greater acceleration possible
• Growing underlying leadership and operational capabilities
• Developing the B2C ‘Home Allotment’ version of the product
• Capital for growing partnerships / forming JVs
We aim to become a global leader in sustainable, low-impact food production and value-added services, producing with others and ourselves.
The company has the following outstanding loan:
A £161,413, interest free director’s loan from Michael Ruggier with no specified repayment date. The loan will be repaid on a time appropriate for Airponix.
The funds raised from this investment round will not be used to repay this loans.
A £485,000 loan from Centrica, with the following key terms:
Interest rate: 7% per annum
•Non payment of loan within 10 days of due date
•Breach of agreement, default, breach of promise etc
• Inability to pay loans etc
•Insolvency / winding up of the company
•Change of control
Conversion price: £4,000,000
Share class: A Ordinary
•£50,000 payable in February 2024
•£200,000 payable in February 2025
•Balance of loan & interest payable in February 2026
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