Kalera acquires Vindara Inc. 
Kalera AS ("Kalera" or the "Company"), Euronext Growth Oslo ticker KAL,
Bloomberg: KSLLF, one of the fastest-growing vertical farming companies in the
world and a leader in plant science for producing high-quality produce in
controlled environments, today announced the acquisition of Vindara Inc.
("Vindara"), the first company to develop seeds specifically designed for use in
vertical indoor farm environments as well as other controlled environment
agriculture (CEA) farming methods.  

Vindara, based in Research Triangle, North-Carolina, uses genomics, machine
learning, and computational biology along with traditional breeding methods to
meet the market need for produce that is non-GMO, nutritious, high-yielding, and
delicious. Explicitly intended for the new high tech indoor growing
environments, Vindara seeds offer growers the opportunity to capitalize on a
significantly higher yield potential, production efficiencies and product
customization - in a fraction of the time through reducing the grow cycle. The
Company's breeding process shortens development time from the usual 5-7 years to
just 12-18 months and shaves several days off of the plant grow cycle, resulting
in increased output and optimizing yield and profitability.

Vindara will be a fully owned subsidiary of Kalera and will operate out of
Kalera's headquarters in Orlando, Florida where Dr. Jade Stinson will continue
in her existing role as Co-Founder and President. Together, the combined company
will:

	Significantly increase the output from KaleraŽs current and future facilities
by reducing the grow cycle and providing higher yields
	Lower costs of goods sold by reducing costs of seed and energy
efficiency/automation
	Significantly improve KaleraŽs future unit economics and EBITDA 
	Be better positioned to offer differentiated products and have an improved
ability to optimize color, texture, flavor, firmness and nutrient profile 
	Accelerate and expand Vindara's seed research and development programs focused
on the indoor farming sectors to support overall CEA market share growth
	Develop a strong product pipeline beyond lettuce to include high yield basil,
high yield spinach and high yield strawberries 
	Accelerate the development cycle of proprietary products with and for
customers while also generating value through the development of custom seed for
the indoor farming industry at large
	Provide additional revenue generation opportunities to the CEA global market

The agreed enterprise value for Vindara is USD 23,750,000 and the consideration
payable for the equity of the Company will be settled 60% in cash and 40% in the
form of preferred stock in a newly formed subsidiary of Kalera, which will be
exchangeable into an aggregate of 
2,084,087 shares in Kalera. The recipients of the preferred stock will be
subject to a nine-month lock-up.

Employees of Vindara will be onboarded to Kalera's share option plan and will be
granted a total of 600,000 Kalera share options with a strike price of US$5.00. 


"Kalera has always focused on being the most technologically advanced player in
the vertical farming industry. With the addition of Vindara's data-driven
methodology, we will be the first vertical farming company with the ability to
develop its own plant varieties bred specifically for indoor farming conditions.
Our acquisition of Vindara complements our overall science-driven and
innovation-leading value proposition. This investment represents an important
strategic opportunity to increase revenue options to Kalera, while reducing its
cost of materials and reducing our cycle times given Vindara's competitive
advantages," said Daniel Malechuk, CEO of Kalera. "While advances in technology
such as lighting, robotics, sensors, and planting substrates are all improving
grower economics, seeds developed specifically for indoor farming have been a
"missing link" to vertical farming achieving its full potential. Together with
Vindara, we are ushering in a new era of agricultural advancements that will
increase production yields and produce unique crop varieties customized for the
needs of our discerning customers around the globe." 
 
"Kalera has quickly established itself as an innovative leader and is the ideal
partner to help Vindara continue optimizing seeds designed specifically for the
vertical farming industry" said Dr. Stinson. "With Kalera's commitment to R&D
and improving the yield, variety and characteristics of its produce, we will be
able to better leverage our ability to develop customized seeds for indoor
growers faster than any other seed provider.  I look forward to working with
Daniel and the rest of the Kalera team to continue driving innovation and
building on Kalera's rapidly expanding footprint by delivering a truly
differentiated product for their customers while also accelerating our ability
to provide the rest of the CEA world with our revolutionary seeds"

"We stress that Kalera is the future of farming -- and with our robust growth
and ongoing operational enhancements, we're truly making that future happen now,
turning it into a reality today." said Malechuk.

Kalera currently operates two growing facilities in Orlando, and is building
facilities in Atlanta (Georgia), Houston (Texas), and Denver (Colorado), which
will open in 2021 along with additional facilities underway in greater Seattle
(Washington), Honolulu (Hawaii), and Columbus (Ohio). Kalera is the only
controlled environment agriculture company with coast to coast facilities being
constructed, offering grocers, restaurants, theme parks, airports and other
businesses nationwide reliable access to locally grown clean, safe, nutritious,
price-stable, long-lasting greens. Once all of these farms are operational, the
total projected yield is of several tens of millions of lettuce heads per year,
or the equivalent of over 1,000 acres of traditional field farming. Kalera uses
a closed-loop irrigation system which enables its plants to grow while consuming
95% less water compared to field farming. 


About Kalera 
 
Kalera is a technology driven vertical farming company with unique growing
methods combining optimized nutrients and light recipes, precise environmental
controls, and clean room standards to produce safe, highly nutritious,
pesticide-free, non-GMO vegetables with consistent high quality and longer shelf
life year-round. The company's high-yield, automated, data-driven hydroponic
production facilities have been designed for rapid rollout with industry-leading
payback times to grow vegetables faster, cleaner, at a lower cost, and with less
environmental impact. To learn more visit www.Kalera.com. 
 
About Vindara 
 
Vindara is the first company to deliver genetic seed varieties bred explicitly
for use in fast growing, high-tech indoor farming operations. Founded in 2018,
the company utilizes machine learning to develop tailor-made seeds in a
compressed timeframe of only 12-18 months. To learn more visit www.Vindara.com.

Important notice:

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believe that these assumptions were reasonable
when made, these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict, and are beyond their control. Actual
events may differ significantly from any anticipated development due to a number
of factors, including without limitation, changes in public sector investment
levels, changes in the general economic, political and market conditions in the
markets in which the Company operates, the Company's ability to attract, retain
and motivate qualified personnel, changes in the Company's ability to engage in
commercially acceptable acquisitions and strategic investments, and changes in
laws and regulation and the potential impact of legal proceedings and actions.
Such risks, uncertainties, contingencies and other important factors could cause
actual events to differ materially from the expectations expressed or implied in
this release by such forward-looking statements. The Company does not make any
guarantee that the assumptions underlying the forward-looking statements in this
announcement are free from errors nor does it accept any responsibility for the
future accuracy of the opinions expressed in this announcement or any obligation
to update or revise the statements in this announcement to reflect subsequent
events. You should not place undue reliance on the forward-looking statements in
this announcement. 

The information, opinions and forward-looking statements contained in this
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