The vertical farming bubble is finally popping because energy is expensive and lettuce is cheap

Gordon-Smith says that most vertical farms in the U.S. are a long way from profitability. “Based on an analysis we did for a large private-equity firm, we don’t actually see a scenario where in the next 10 years vertical farming will compete with field-grown at scale in North America,” he says. Right now, he says, the economics make the most sense in the Middle East, where extreme heat makes outdoor growing impractical and consumers currently pay high prices for imported greens.