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Agriculture

Singapore's Temasek bets on 'skyscraper farms' as growth market

Joint venture with Bayer to develop seeds to boost food security in city-state

Vertical farms use hydroponics to grow crops inside buildings. (Photo courtesy of Unfold)

SINGAPORE -- Singapore's state-backed investment group Temasek Holdings has extended its business portfolio into urban farming, a concept that will aid the city-state in its quest to become more agriculturally self-sufficient.

Temasek and German pharmaceutical major Bayer established Unfold, a 50-50 joint venture, last month. The company will develop and market seeds for vertical farming both in Singapore and at its California headquarters.

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