Harnois Greenhouses, Catalera BioSolutions, S2G Ventures, Terramera, SOLASTA Bio, Forbion, FCC, Corteva Catalyst, Farmland LP, Microsoft’s Climate Innovation Fund - This Week in AgTech

Anna: 00:00

Welcome to AgTech Digest, your go-to update for the latest innovations in agriculture and sustainability. I’m Anna, and today, we have some groundbreaking news to share with you. We’ll be covering major funding rounds, exciting mergers, and cutting-edge product developments that are shaping the future of farming.

In this edition, we’ll explore Harnois Greenhouses' revolutionary energy-efficient Vermax design, dive into the $30 million+ funding boost for bioinsecticides and soil carbon credits, and check out BASF's global carbon trials aimed at reducing emissions. Plus, we’ll look at key acquisitions in indoor farming and AI-driven precision agriculture that are setting new standards in the industry.

Let’s dive in.

Anna: 00:43

Harnois Greenhouses has recently unveiled their latest innovation in sustainable agriculture: the Vermax glass greenhouse. This new design prioritizes energy efficiency without compromising on optimal growing conditions. The Vermax features a semi-enclosed system, which is engineered to significantly reduce energy consumption in greenhouse operations. This approach not only helps cut down on operational costs but also contributes to lowering greenhouse gas emissions.

The Vermax greenhouse represents a step forward in Harnois' commitment to developing sustainable agricultural solutions. By focusing on energy efficiency, the company aims to address the dual challenges of rising energy costs and the need for environmentally friendly farming practices. The design of the Vermax allows for precise control of the internal climate, ensuring that crops receive ideal growing conditions year-round while minimizing the environmental impact of greenhouse operations.

Anna: 01:36

This innovation aligns with the growing trend towards more sustainable and efficient agricultural practices, offering growers a way to reduce their carbon footprint without sacrificing productivity.

Anna: 01:50

In recent funding news, over $30 million has been invested to support advancements in regenerative agriculture and biological crop protection. This influx of capital is targeted at critical areas within the agricultural technology sector. Catalera BioSolutions, based in Vancouver, Canada, announced the initial close of its Series A funding round. The company is aiming to raise a total of $8 million by the fourth quarter of twenty twenty four. S2G Ventures led this round, with additional support coming from Farm Credit Canada Capital. Catalera, which was launched in May twenty twenty four as a spin-out from Terramera, is focusing on developing biological pest control solutions to address adoption challenges in agriculture.

SOLASTA Bio, headquartered in Glasgow, Scotland, raised $14 million in an oversubscribed Series A round. This brings their total funding to $19 millions. The round was led by Forbion through its BioEconomy fund, with co-investments from FMC Ventures, Corteva Catalyst, and others. SOLASTA's peptide-based bioinsecticides have shown strong efficacy in over 20 trials across Europe, the UK, and the US. The company plans to use this funding to scale commercialization efforts.

Anna: 02:56

Lastly, Farmland LP, based in San Francisco, secured investments from Microsoft's Climate Innovation Fund for its third Vital Farmland LLC fund. The company manages eighteen thousand five hundred acres of regenerative farmland and focuses on creating Soil Carbon Credits to sequester CO2.

This funding will support protocols to expand the soil carbon credit market and promote sustainable farming on a larger scale. These investments demonstrate the growing interest and confidence in agricultural technologies that promote sustainability and biological solutions in farming practices.

Anna: 03:32

BASF has recently shared the results of its Global Carbon Field Trials, revealing promising advancements in reducing agricultural greenhouse gas emissions. These trials, which took place between 2021 and 2023, demonstrate that carefully tailored climate-smart approaches can lead to a significant reduction in emissions - up to 30% in some cases. The trials were extensive, covering multiple crops including wheat, corn, canola, oilseed rape, rice, and soy. They were also geographically diverse, spanning various regions to ensure a comprehensive understanding of different agricultural environments.

One of the key findings from these trials is that there's no one-size-fits-all solution when it comes to reducing agricultural emissions. Instead, the results highlight the importance of adapting strategies to specific crops and regional conditions. BASF's trials identified several effective approaches to reducing emissions while maintaining productivity. These include the use of optimized fertilizers combined with digital decision support systems and nitrogen stabilizers. The trials also showed that high-performing seeds can play a crucial role in improving sustainability without sacrificing yield or productivity.

Anna: 04:41

This research underscores the potential for meaningful reduction in agricultural emissions, but it also emphasizes the need for a multifaceted approach. Success in this area requires a combination of advanced products, technologies, and farming practices that are tailored to specific regions and crops.

Anna: 04:58

In the world of Agtech mergers and acquisitions, we've seen some significant moves this week. Future Food Foundry, a UAE-based agri-food tech company, has made a substantial investment of $20 million in Singapore's indoor farming sector. This investment involves merging NextGen Farms and Sustenir Group, creating Singapore's largest plant superfood ecosystem under the Sustenir brand. The goal is to enhance capabilities in controlled environment farming, with a focus on locally grown superfoods like kale and spinach.

This strategic move aims to reduce Singapore's reliance on food imports and expand Future Food Foundry's presence in the Asia-Pacific and MENA regions. On another front, Kubota Corporation, through its North American subsidiary, has acquired Bloomfield Robotics, a Pittsburgh-based company specializing in AI-driven imaging technology for specialty crops. Bloomfield's technology uses tractor-mounted cameras and a software platform to capture detailed images of individual plants, providing valuable data on fruit size, color, and maturity. This acquisition strengthens Kubota's position in precision agriculture, expanding its offerings in AI-powered crop health assessments across multiple countries and continents.

Anna: 06:09

The Agtech sector continues to evolve rapidly, with several noteworthy developments this week. SVG Ventures | THRIVE announced their twenty twenty four Top 50 AgTech and FoodTech companies list, showcasing the most innovative and venture-backed firms driving sustainable transformation in agriculture and food production. This year's list features companies like Gotham Greens, Oishii, Beewise, Ynsect, and Pivot Bio, highlighting advancements in urban farming, sustainable protein, and AI-powered pest management. In precision farming news, FarmWise has partnered with RDO Equipment Co. to introduce the Vulcan precision weeding implement to vegetable growers in the Southwest United States.

This AI-powered technology has already been integrated into operations of major producers like Taylor Farms and Barkley Farms, with Taylor Farms reporting over 2,100 acres weeded this season using Vulcan. On the manufacturing front, Reinke Manufacturing announced a significant $12 million investment to modernize and automate its facilities in Deshler, Nebraska. This investment will introduce advanced robotic technologies aimed at increasing production efficiency and expanding capacity for Reinke's precision irrigation systems.

Anna: 07:19

These acquisitions highlight the industry's focus on sustainable food production and the integration of advanced technologies in farming practices.

Lastly, GreenVenus, LLC launched a new fast-growing lettuce variety developed specifically for controlled-environment agriculture. This variety grows nearly twice as fast as traditional lettuce and produces a larger biomass, potentially revolutionizing productivity in vertical farming.

Anna: 07:45

Let’s take a look at some exciting upcoming events in the agricultural and related industries where experts and innovators will gather to explore the latest trends and technologies. Kicking off the lineup is the 5th Urban Agri World Summit, happening from September 18th to 20th in Durban, focusing on advancements in urban farming. On September 24th to 26th, you can attend the Chemical Industry Regulations Conference, where regulatory updates will take center stage, or join the Women in Agribusiness event in Denver, USA, to celebrate and empower female leaders in the industry.

The Vertical Farming World Congress twenty twenty four will take place in Frankfurt, Germany, from September 25th to 26th, delving into innovations in vertical farming. For those interested in agricultural technology, the World Agri-Tech Innovation Summit in London will run from September 30th to October 1st, followed by the CEA Summit East in Virginia on October 1st and 2nd. Looking ahead to October, Agra Middle East in Dubai (October 7th-8th) and VertiFarm twenty twenty four in Dortmund, Germany (October 8th-10th), will round out a packed season of cutting-edge agricultural events.

Anna: 08:52

That concludes this week’s edition of AgriTech Weekly. From the revolutionary energy-efficient Vermax greenhouse by Harnois to the incredible $30 million in funding for innovations like bioinsecticides and soil carbon credits, we’ve seen impressive strides toward sustainable agriculture. With BASF’s global field trials showing a 30% reduction in emissions and key acquisitions like Kubota’s AI-driven imaging tech, the future of farming is looking more efficient and environmentally conscious than ever. Thank you for joining us and staying at the forefront of these exciting developments. I’m Anna signing off. Until next time, keep pushing the boundaries of what’s possible in agriculture, and stay inspired. See you in the next edition!