KUALA LUMPUR: FarmByte Sdn Bhd has signed a head of agreement (HoA) with Singapore's agritech company Archisen Pte Ltd for vertical farming in Johor with an investment of RM8.2 million.
The joint venture will develop vertical farms that will supply produce to both countries with FarmByte and Archisen combining their resources, technical expertise and network.
FarmByte will provide the farming infrastructure and critical local market insights, while Archisen will supply the technical knowledge on indoor farming practices, including the use of automation systems and data analytics.
Additionally, Archisen will facilitate comprehensive training for FarmByte's employees.
"We are excited to advance our collaboration with Archisen, underscoring our dedication to a digital-first approach in revolutionising Malaysia's agrofood sector.
"Our joint efforts will bolster vertical farming capabilities in Johor, leveraging the expertise of an established partner in urban solutions to guarantee food resilience for the country and beyond.
"The HOA represents another significant milestone in propelling Johor's agrofood sector toward a more food secure future," said FarmByte chief executive officer (CEO) Syed Aiman Kifli Syed Jaafar in a statement.
FarmByte was established within the Johor Corporation group to enhance Johor and Malaysia's food security agenda.
Archisen CEO Vincent Wei said the collaboration with FarmByte will enhance their shared commitment to improve farming efficiency through innovation and technology.
"Together, we hope to bring the advantages of vertical farming to Johor and Malaysia, contributing to the region's food security and sustainable living," Wei added.