Gulf chief invests in indoor farming firmGulf Energy chief executive Sarath Ratanavadi is personally investing in US indoor farming firm Local Bounti Corp through a private investment in public equity (PIPE) arrangement. Sarath: A personal investment"This is my personal investment, nothing to do with Gulf," Mr Sarath told the Bangkok Post. Local Bounti plans to go public through a merger with a special purpose acquisition company, Leo Holdings II Corp that is listed on the New York Stock Exchange (NYSE). Another strategic partner US agriculture firm Cargill is expected to invest $200 million, according to a Local Bounti statement. The firm plans to use the capital to construct indoor farming facilities across the western US.

Source: Bangkok Post June 29, 2021 23:37 UTC