(Hong Kong, 12 Sept 2024) – Farmacy International Pty Ltd (Farmacy) from Hong Kong and FutureBright Society Enterprise Pty Ltd (FutureBright) from Australia today announced a strategic joint venture, Farmacy ANZ, aimed at driving sustainability in agricultural innovation and developing scalable green food networks across multiple sectors.
Farmacy is a partner company of the Hong Kong Science and Technology Parks Corporation (HKSTP), establishing its green R&D space at the DT Hub in Tseung Kwan O InnoPark. As the first urban farming technology company in Asia creating Smart Mobile Farms with cloud-based control capabilities for highly urbanized cities, the team is dedicated to realising the mission of “driving the New Green Normal Movement, enabling ecological farming of safe and fresh produce right in the heart of the city”. With the world-class infrastructure and a range of resources provided by HKSTP’s I&T ecosystem, Farmacy successfully accelerated the commercialisation of their R&D outcomes.
In 2023, the company was nominated by the Hong Kong SAR government to participate in the APEC Bio-Circular-Green Award where it was recognised as one of the awardees, demonstrating the strong potential of its smart mobile farm. Farmacy is now further expanding its business footprint into Australia and New Zealand by partnering with FutureBright, a leader in sustainable urban planning and architecture. Together, the venture plans to integrate agricultural innovations that enhance urban living across Australia and New Zealand.
Pioneering Green Urban Living with Cutting-Edge Indoor Farming Technology
Over the past five years, Farmacy has engaged with restaurants, hotels, major conglomerates, supermarket chains, and over 50 schools across Asia. Utilizing its advanced indoor farming technology, Farmacy has facilitated the cultivation of over 100 safe and affordable plant species. By merging this technology with FutureBright’s expertise in urban development, the joint venture aims to elevate green urban living, providing valuable insights into the agricultural needs of the Australia and New Zealand (ANZ) market.
Green Development Opportunities in Australia and New Zealand (ANZ)
The joint venture focuses on advancing green agricultural development in ANZ. By combining FutureBright’s urban planning expertise with Farmacy’s innovative indoor farming technology, the partnership will support and enhance the region’s green and carbon-reduction policies. This initiative aims to implement sustainable agricultural practices that align with national sustainability goals, promote environmental stewardship, and address local challenges, ensuring significant advancements in green urban development.
Meeting the Demand for Sustainable Indoor Farming Solutions in ANZ
There is strong interest from potential leads in the retail, hospitality, and education sectors across Australia and New Zealand. This demand highlights the need for advanced indoor farming solutions, which are currently lacking in these sectors. The joint venture is set to introduce innovative technology that will enhance guest experiences and operational efficiencies, creating a replicable model for sustainable agriculture tailored to the unique needs of the ANZ market.
Raymond Mak, Co-founder of Farmacy, stated, "We are not replacing traditional agriculture but building a more sustainable food system in urbanized cities. Our technology is poised to be a game-changer, contributing to a sustainable future for communities in Australia and New Zealand."
Michael Chan, Director of FutureBright, added, "This joint venture reflects our shared vision of innovation and sustainability. We look forward to collaborating with Farmacy to enhance agricultural practices and promote green urban development."
