Dubai hydroponics investor launches global food security fund

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Dubai’s Pegasus Agriculture Group, which owns various hydroponic farming facilities in the Middle East and North Africa, has established a futures fund to focus on food security.

Pegasus Food Futures, based in Abu Dhabi, will focus on reducing reliance on imported food through investment in food manufacturing and technology, research and development, and supply chain transparency.

The fund’s chief executive, Mahmood Almas, called its establishment “an exciting chapter” in efforts to boost global food security. 

Through greater food supply chain transparency, we can ensure providence from producer to consumer,” he said.  

Operating globally out of the UAE capital, the fund will initially focus on establishing and growing operations in the Middle East, as well as in North America, Europe, Southeast Asia and Australia.  

It is already supporting a major public-private initiative to develop a global indoor agriculture production, research, training and service hub on America’s east coast. The project, in partnership with a municipality in Pennsylvania, leverages the area's historic indoor mushroom-growing industry and existing indoor agriculture facilities. 

Elsewhere, another Pegasus Food Futures project will set out to develop a state-of-the-art facility housing multiple technologies for energy, water and food production in the Gulf. The 200 hectare “Agriculture City” mega-structure will include greenhouses, solar stations and a research lab and be housed in Saudi Arabia.  

We are establishing Pegasus Food Futures by taking best-of-breed technologies to create a global sustainable food future that doesn't compromise on quality and nutrition,” Almas added.

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