Vertical farming company Vertical Future has appointed administrators.
The London-based business was placed into administration on 12 August.
The company has appointed Richard Cole and Steve Kenny of KBL Advisory to oversee the administration.
It is the latest vertical farming business to have gone bust this year, following Jones Food Company in April and US-based farm Plenty in March.
Other casualties within the industry include the likes of Future Crops, Aerofarms, Agricool and Upward Farms, which all ceased production in recent years.
Vertical Future was founded in 2016 by Jamie Burrows and Marie Burrows. It had been developing a fully autonomous growing facility that will be used in the first commercial space station, due in orbit in 2026. This proposal was selected by the UK Space Agency and awarded a grant of £1.5m.
It designed more than 90% of the technology it used in house, the company’s website said which meant it had ”the kind of flexibility and technology needed for this important sector”.
The company had been listed for sale on an insolvency marketplace after reporting widening losses, City AM reported in July. The business title reported that the company had seen losses surpass £10m in 2024 after runover fell from £6.7m to £692,000.
The administrators have been approached for comment.
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