For Immediate Release

Media Contact
AeroFarms
Marc Oshima
Chief Marketing Officer and Co-Founder
(973) 242-2495
MarcOshima@AeroFarms.com
NEW $30 MILLION DEAL TO DEVELOP
WORLDS LARGEST INDOOR VERTICAL FARM IN NEWARK, NJ

AeroFarms, RBH Group, Goldman Sachs, Former Industrial Site into State
of the Art Indoor Vertical Farm
69,000 Square Foot Space to Serve as AeroFarms New Global Corporate
Headquarters, bringing new jobs to Newark, NJ
First Phase of Project to Open Later this Year

(Newark, NJ March 9, 2015) AeroFarms, RBH Group and its investment

partners, Goldman Sachs Urban Investment Group, Prudential Financial Inc.,
together Prudential Financial, City of Newark, and NJEDA Partner to
Redevelop
with the City of Newark and the New Jersey Economic Development Authority (NJEDA),
announce the closing of a $30 million project to redevelop a former industrial site in the
Ironbound community of Newark, NJ into the worlds largest indoor vertical farm and
global corporate headquarters for AeroFarms, the leading commercial grower for
vertical farming and controlled agriculture.

AeroFarms is building a state-of-the art 69,000 square foot indoor vertical farm and
global headquarters in a converted steel factory located at 212 Rome Street that is
owned by RBH Group. Currently under construction, the first phases will open in the
second half of 2015, creating approximately 78 jobs in a local community with an
unemployment rate that is twice the national average. Additionally, AeroFarms has
partnered with the Ironbound Community Corporation to create a recruiting and job
training program targeting local residents.
David Rosenberg, CEO for AeroFarms, said, We are excited to redefine not only the
Garden State but also agriculture overall. Partnering with RBH, Goldman Sachs,
Prudential, the City of Newark and NJEDA allows us to bring our global headquarters
and the worlds largest indoor vertical farm close to where the consumer is, offering a
fresher, more nutritious and delicious product while also creating jobs in the community.
We are also happy to build on our deep ties within the Newark community over the last
4 years, where we have had one of our working farms in the cafeteria of Philips

Academy Charter School, offering the shortest farm to table experience around for the
students.
Ron Beit, founding partner and CEO of RBH Group, said, "We are delighted to introduce
AeroFarms, a farming and technology leader, to the City of Newark, creating jobs for
local residents and greater access to locally grown produce for our community.
AeroFarms will anchor our broader Makers Village development project in the
Ironbound neighborhood that will compete toe-to-toe with the Brooklyn Navy Yard in
terms of a superior cost structure and greater transmodal access, bringing 21st century
maker-type businesses to Newark and the State of New Jersey."
Margaret Anadu, Managing Director, Goldman Sachs Urban Investment Group, said,
AeroFarms innovative vertical farming technology will help boost the local economy,
promote healthy food options locally, and support environmental sustainability.
Importantly, the project will also create high-quality, accessible local jobs, marking an
important step in the continued revitalization of the Ironbound neighborhood.
We expect AeroFarms to build on Newarks history as a hub for manufacturing and
innovation by attracting and retaining businesses that will grow through the 21st
Century, said Lata Reddy, vice president of corporate social responsibility and
president of The Prudential Foundation. Next generation agri-businesses, such as
AeroFarms, represent economic opportunity for Newarkers and development that will
benefit the entire region.
The building is located on a 3-acre industrial site in the center of the Ironbound
community in Newark, NJ. It is adjacent to elevated truck Route 1 and 9, a freight rail
right of way, and to other industrial businesses along Rome and Christie Streets.
When completed, AeroFarms will have the capacity to grow up to 2 million pounds per
year of baby leafy greens and herbs in an environmentally controlled, safe, and sanitary
facility. It will provide healthy foods to the local community as well as to other markets.
AeroFarms is a model for successful, sustainable farming offering 75 times more
productivity per square foot annually than a traditional field farm while using no
pesticides and consuming over 95% less water.
Mayor Ras J. Baraka said, Newark is excited to partner with RBH Group,
AeroFarms, Goldman Sachs, Prudential Financial and the New Jersey
Economic Development Authority on the creation of the world's largest
indoor vertical farm. Newark is increasingly becoming a destination City for high-tech
and environmentally-friendly commerce, and this $30 million project in the East Ward
will bring jobs and prosperity to our City. It will also expand the role of urban farming
and locally-produced vegetables in our City. This will provide greater access to healthy
and inexpensive food choices for our residents, helping them live healthier lifestyles.
This development initiative is a win for everyone involved, and will have a major impact
on our Citys economic and physical health, and our efforts to transform Newark into a

City we can all believe in. I congratulate RBH, AeroFarms, our Economic Development
team, and all other partners on making this project happen.
The New Jersey Economic Opportunity Act is effectively working to spur growth in our
cities and create new job opportunities for our residents, said NJ Economic
Development Authority President and Chief Operating Officer Timothy Lizura. The
transformation of a vacant warehouse in Newark into a headquarters and manufacturing
facility for an emerging company is exactly the kind of project the Act was created to
advance. The novel technologies that AeroFarms is developing could affect growers
around the world, placing New Jersey once again at the forefront of innovation.
About AeroFarms
Founded in 2004, AeroFarms is a mission-driven company and environmental
champion leading the way to address our global food crisis by building, owning, and
operating throughout the world responsible farms that grow safe, nutritious, and
delicious food, setting a new standard for culinary freshness and flavor. AeroFarms has
been fundamentally transforming agriculture and disintermediating the supply chain by
enabling local farming at commercial scale all year round. Led by CEO David
Rosenberg who has been recognized by the World Economic Forum as one of the
Transformational Leaders in Agriculture, AeroFarms was just profiled by Bloomberg
TV for their annual program Year Ahead 2015 highlighting companies that are poised to
disrupt business. AeroFarms is a Circular Economy 100 company, was voted Most
Innovative Company at the Future Farm World agriculture conference and the Best
Growth Company to invest in at the Wall Street Journals ECO:nomics conference.
AeroFarms is also the past Winner of Red Herrings Top 100 North America and Global
Finalist for Innovative Companies, Finalist for Silicon Valleys TiE50 Awards for
Energy/CleanTech, Finalist for World Technology Awards for the Environment, and
Finalist for CleanEquity Monaco for Technology.
About RBH Group
Ron Beit is the founding partner and CEO of RBH Group, LLC and president of RBH
Management, LLC, asset and property management companies. RBH has acquired,
developed, rehabilitated, and/or operated over 1 million square feet of existing
commercial and residential real estate in numerous projects throughout the U.S. It has
over 6 million additional developable square feet in institutional-grade sites throughout
downtown, Newark, NJ.
RBH Group has been an active participant in helping the city of Newark become New
Jerseys business and entertainment capital and a downtown, 24-hour, 7-day-a-week
attraction. It has acquired 79 parcels through 30 separate transactions in Newarks
downtown core. The companys efforts there to date have been in land assemblage and
land entitlement in order to create a large-scale platform for institutional-grade

development. RBH is currently developing the groundbreaking Teachers Village project

and the Four Corners Millennium project in the historic core of the city.
About the City of Newark
Newark is enjoying a strong revival. With its world-class entertainment venues (e.g., the
New Jersey Performing Arts Center, the Prudential Center, the Newark Museum), and
its art galleries and restaurants, Newark is increasingly becoming a destination for
visitors. Its six major colleges and universities are further expanding their presence, and
major corporations like Panasonic USA, Manischewitz, Wakefern, PSE&G, Prudential,
and Horizon Blue Cross Blue Shield are based here.
In July 2014, Mayor Ras J. Baraka appointed Deputy Mayor Adofo-Wilson to oversee
the City of Newarks Department of Economic and Housing Development. The mission
of this Department is to create economic opportunity for Newark residents and enhance
the vibrancy of the City. The Department seeks to position Newark to take advantage of
its unique assets, including its strategic location, a diverse and under-utilized workforce,
a large amount of developable land, concentration of corporate and business service
firms, several major universities, and a wealth of arts and cultural assets.
About Goldman Sachs Group, Inc.
The Goldman Sachs Group, Inc., is a leading global investment banking, securities and
investment management firm that provides a wide range of financial services to a
substantial and diversified client base that includes corporations, financial institutions,
governments, and high-net-worth individuals. Founded in 1869, the firm is
headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong
Kong and other major financial centers around the world.
Established in 2001, the Urban Investment Group deploys capital to benefit urban
communities. Through its comprehensive community development platform, UIG is a
catalyst in the revitalization of underserved neighborhoods. UIG has committed more
than $4.1 billion, facilitating the creation and preservation of over 14,000 housing units the majority of which are affordable to low, moderate and middle-income families - as
well as over 1,700,000 square feet of community facility and over 5,000,000 square feet
of commercial and retail space.
About Prudential Financial
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1.1
trillion of assets under management as of December 31, 2014, has operations in the
United States, Asia, Europe, and Latin America. Prudential Financial Inc.s diverse and
talented employees are committed to helping individual and institutional customers grow
and protect their wealth through a variety of products and services, including life
insurance, annuities, retirement-related services, mutual funds and investment

management. In the U.S., Prudential Financial, Inc.s iconic Rock symbol has stood for
strength, stability, expertise and innovation for more than a century. For more
information, please visit www.news.prudential.com.