The Vertical Farming Bubble is Finally Popping

When workers arrived at Fifth Season, an indoor farm in the former steel town of Braddock, Pennsylvania, on a cloudy Friday morning last October, they expected it would be a normal day.

The farm, which had opened two years earlier, seemed to be running smoothly, growing tens of thousands of pounds of lettuce per year inside a robot-filled 60,000-square-foot warehouse. The brand was selling salad kits—like a taco-themed version with the company’s baby romaine, plus guacamole, tortilla strips, and cheese—in more than 1,200 stores, including Whole Foods and Kroger. Earlier in the year, the company had said that it projected a 600% growth in sales in 2022. The branding was updated in October, and new packages were rolling out in stores. Solar panels and a new microgrid had recently been installed at the building. A larger farm was being planned for Columbus, Ohio.

But the workday never started. “The CEO came in and said, ‘Justin, we gotta talk,’” says Justin Stricker, who had worked as a maintenance technician at the startup since it launched. “He said, ‘Don’t let anyone set up. We’re going to have a big meeting.’ I thought I was getting fired. The whole entire place was just done.” The managers announced that the company was closing immediately. After shutting down the electrical equipment and draining water lines, the plants were left to die. Stricker and dozens of others were left scrambling to find new jobs. 

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