• Indoor Farming

    Financial Modeling

    Indoor farming has the potential for both increased food supply with profitability, but requires a combination of capital intensive production planning and managing variable market & supply conditions that create volatility in revenue. One of the biggest challenges facing the industry in the 21st century is the lack of institutional and governmental finance knowledge about this sector.

    We fill the gap of CEA financing knowledge with specialized financial modeling services designed specifically for indoor agriculture, helping you optimize your investments and enhance operational performance.

    Our designs are not for small or minimally retrofitted farms, which are well served by standardized, off-the-shelf models.

  • Profitable Indoor Farming

    New Growing Designs, Updated Financial Models

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    Indoor farming is profitable when the right match of market, product, production and financial structure are designed on a modular, scalable approach.

    The new facility designs and technologies proivde both benefits and risks requiring updated business models supported by updated financial models. The result: New models go beyond standardized financial modeling because they are informed by successes and failures of the US mushroom industry.

  • Our Approach

    Build on Successful Models, Learn from Mistakes

    Incremental Design starts with creating designs for managed, incremental growth of production using adopted for an indoor farm plan, whether it's a new system design. Specific technologies are added in a step-by-step process within a facility to generate production increases. Additions are made when market demand confirms price/quality acceptance.

    In the current era of controlled environment technology, we apply a four-phased approach to indoor farming business-financial modeling:

    PHASE 1 - Modular Design

    • Facility and plant layout is designed for modular addition, whether by growing room or racks.

    PHASE 2 - Production Scenarios

    • The optional mixes of markets, distribution channels, crops and cost-factor-inputs are modeled for optional production scenarios.

    PHASE 3 - Business Scenarios

    • The production scenarios are the basis for scenario based business planning. We use multi-factor input assumptions for different scenarios driven by four macro forces that go beyond basic high, medium and low projections.

    PHASE 4 - Financial Models

    This includes financial models that run through the full cycle of new facilities and businesses, from initial planning through location and acquisition, followed by design, build out and launch before achieving full scale operations to provide realistic estimates of layered capital structures and operating costs. The financial models include:

    • Transition or startup scenarios
    • Retrofit and land acquisition
    • Facility footprint, expansion preparation and maintenance
    • Operating scenarios
    • Operating Results: ProFormas and Real Time Monitoring
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    PAUL MASSON

    Innovation Adoption, Financial Modeling, Strategic Alliances

    Paul Masson has a multi-disciplinary career as a manager of projects, programs and operating units in Fortune 500 companies, startups, research organizations, state economic development units and Federal government agencies. He is the former contract CFO of two closed environment agriculture companies focused applying close-loop technology systems, primarily to mycellium (mushroom) growing with expansion into multiple crops, primarily applying Dutch style farming systems.

    Key Financial Consulting and Modeling Roles

    Head of Corporate Finance Consulting, SRI International

    Investment Banking Project Manager, Babcock & Brown Trade Finance

    Advisor, NASA, Technology Commercialization, Plant Growth, Space Shuttle

    Senior Advisor, LBO Restructuring, Mushroom King Inc.

    Contract CFO & Controller, Petaluma Mushroom Farm

    Paul holds a BS in Economics from UPenn/Wharton and an MBA in Finance from UPenn/Wharton. He has been a lecturer at several Northern California colleges and universities, including Stanford Business School.

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    DUNCAN SOLDNER

    Designer, Innovation

    Lead & Grower

    With a background spanning water resource regulation, controlled environment agriculture (notably mushrooms), technological innovation, and entrepreneurial leadership, Duncan Soldner has established himself as a prominent figure in sustainable farming.

    He founded the Clearwater Group, served as President of Colusa Mushrooms, managed operations at Petaluma Mushrooms, and is an expert in Dutch-style indoor farming systems. Currently, he leads both the Clearwater Group and the Gourmet Growers Family Farm Cooperative.

    Specialist in farm design, system integration, and financial modeling for CEA

    Project manager for closed system upgrades at Petaluma Mushroom Farm

    Program manager overseeing upgrades at Mushroom King, Inc.

    Designer of mushroom cultivation facilities in Colusa, CA

    Chief Executive Officer at Premier Mushroom

    Consultant on closed environment system enhancements

    He directed the permitting, construction, and operational management of California’s largest mushroom farm utilizing advanced closed-loop, zero wastewater technology. Built between 2002 and 2008, the farm produces over 14 million pounds of mushrooms annually and incorporates renewable energy sources like walnut shell combustion. Its air treatment system captures nutrients and repurposes airborne elements into soil amendments, while all environmental controls are microprocessor-based, remotely managed by mobile applications.


    Duncan earned a Bachelor’s degree in Humanities from UC Davis and pursued legal studies at Santa Clara University. He has also served as a humanities educator at San Francisco State University, sharing his expertise with students.

  • Industry Resource Links

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    Wikipedia

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    Controlled Environment Agriculture Alliance

    (CEA Alliance)

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    This article provides an in-depth analysis of the financial challenges faced by indoor farming ventures in 2025, highlighting key factors contributing to bankruptcies and lessons for future investments.

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  • Contact Us

    We’re here to help you cultivate success. Connect with us today.

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