SAN CARLOS, Calif., Sept. 16, 2022 (GLOBE NEWSWIRE) -- FBN (Farmers Business Network® FBN®), a global farmer-to-farmer network and AgTech company, announced their carbon-scoring technology, Gradable, and sustainable financing expertise will support two major projects under the first round of the Partnerships for Climate-Smart Commodities funding opportunity announced yesterday by Agriculture Secretary Tom Vilsack as part of a $2.8 billion program to expand markets for climate-smart commodities.
FBN’s industry-leading carbon scoring tech platform, Gradable, will serve as the Measuring, Monitoring, Reporting and Verifying (MMRV) technology for a grant of up to $90M awarded to Archer Daniels Midland (ADM) for quantifying verifiable greenhouse gas impacts of Climate-Smart Commodities and decarbonizing the agriculture supply chain; and FBN will also serve as a financial innovation partner to Field To Market on grant of up to $70M for the development of sustainable financing programs for farmers.
“FBN is thrilled to partner with both ADM and Field to Market on their innovative and ambitious programs which will reward thousands of farmers for adopting sustainable growing practices,” said FBN Head of Sustainable Business Steele Lorenz. “With support from FBN’s carbon accounting technology and novel farm financing mechanisms, these projects will catalyze markets for Climate-Smart Commodities while decarbonizing the agriculture sector – a win-win for farm businesses and the environment.”
Agriculture Secretary Tom Vilsack announced yesterday that these initial projects will expand markets for climate-smart commodities, leverage the greenhouse gas benefits of climate-smart commodity production and provide direct, meaningful benefits to production agriculture, including for small and underserved producers. Applicants submitted more than 450 project proposals in this first funding pool, and the strength of the projects identified led USDA to increase its investment in this opportunity from the initial $1 billion Vilsack announced earlier this year.
"As climate-smart agricultural policy and markets develop, it is critical that the concerns and perspectives of the farmer remain at the forefront,” said FBN Head of Government Relations Ken Barbic. “I am encouraged that USDA is endeavoring to do just that, and we will work aggressively to see that any future efforts from Congress, States, Regulators, and the private sector take a farmer first approach."
About FBN’s Gradable Platform
The Gradable platform was launched by Farmers Business Network (FBN) in September 2020 and provides new technology that facilitates grain transactions between producers and commercial buyers, and also provides services that facilitate the scoring, sourcing, and pricing of Low-Carbon Grain. Gradable fully integrates with FBN farmer-facing technology as well as commercial buyer grain accounting systems, and has attracted approximately 1 billion bushels to the platform in less than 9 months. Gradable not only strengthens the relationship between grain buyers and sellers, but also enables comprehensive environmental transparency and supports a market for premium, environmentally-scored grain.
To learn more, visit www.gradable.com
About FBN
Farmers Business Network (FBN -Farmers Business Network® FBN®), Inc. is a global farmer-to-farmer network and independent AgTech platform whose mission is to power the prosperity of family farmers around the world while working toward a sustainable future. Its Farmers First® promise has attracted over 48,000 members to the network with a common goal of maximizing their farm’s profit potential. FBN has set out to redefine value and convenience for farmers by helping to reduce the cost of production and maximize the value of their crops. FBN members farm more than 105 million acres in the U.S., Canada and Australia. Blending the best of Midwestern agricultural roots and Silicon Valley technology, the Company has over 900 employees with principal offices in San Carlos, Chicago, Sioux Falls, High River and Perth, with significant warehouse and logistics, remote and field employees across the US, Canada and Australia.
To learn more, visit: www.fbn.com.
Media Contact
Amy Wolfcale
Global Head of Corporate Communications and Media Relations
awolfcale@farmersbusinessnetwork.com
(917) 576 8767
