Farmway Technologies, a US-based fintech company, plans to invest $100 million in the tokenization of almond orchards in Georgia, marking a significant milestone in the country’s agricultural development.
Deal Details
The deal between Farmway and Georgia covers 500 hectares and includes the creation of infrastructure for processing, logistics, and irrigation systems for almond orchards. As part of the agreement, the company will also establish facilities for producing almond milk and extracts.
Tokenization Project and Its Benefits
Farmway will tokenize agricultural infrastructure, including orchards, irrigation systems, and processing facilities. Each token will represent a fractional stake in an asset, and blockchain will record all activity. CEO Upmanyu Misra noted that tokenization will create direct and efficient pathways for investing in agriculture.
Prospects of Georgia’s Almond Industry
Almonds have become one of the fastest-growing agricultural sectors in Georgia, with expected production rising from 2,500 tons in 2023 to 14,000 tons by 2027. As of August 2023, 6,000 hectares were allocated for almond cultivation. Local almonds are also starting to replace imports, which decreased by 49% in 2024.
Farmway's investment in the tokenization of almond orchards in Georgia will open up new opportunities for the local agriculture sector and enhance its attractiveness to foreign investors.
