Farmers Edge has announced that it will receive $4.6 million USD from Sustainable Development Technology Canada (SDTC) with an additional $9.3 million USD from internal sources and contributions from consortium partners.
The company will direct the funding to developing the next generation of its hardware, software and agronomic decision support systems, with an explicit focus on developing the environmental sustainability aspects of the system.
“Sustainable Development Technology Canada is proud to support the commercialization of innovative technology from Farmers Edge,” said Leah Lawrence, SDTC President and Chief Executive Officer. “This project will create green jobs for the local economy, increase efficiency in the agricultural sector and provide economic and environmental benefits for all Canadians.”
With the SDTC investment, Farmers Edge, alongside its partners, will develop a comprehensive precision data management platform with the ability to capture, visualize and analyze zone-specific information that incorporates multiple variables that impact crop performance, including: weather, soil processes, disease and pest impacts, as well as the constantly shifting interplay of crop prices with input and equipment costs. With this level of data specificity, Farmers Edge is aiming to reduce nitrous oxide emissions by 10%, improve water use by 20%, and significantly cut phosphorous and nitrogen levels in critical water resources.
2016 has been a pivotal year for Farmers Edge as it expanded its global presence into new states in the U.S. and entered the Brazilian and Australian agriculture markets. The company was recently named a Technology Pioneer by the World Economic Forum as well as Canada’s Disruptor Innovator of the Year by PricewaterhouseCoopers (PwC).
“At Farmers Edge, we believe that sustainability in agriculture plays an essential role in improving the bottom line and spurring economic growth, while safeguarding future soil, water, and climate health,” said Wade Barnes, President and CEO of Farmers Edge. “Working alongside our world-class partners, we’re bringing innovative solutions that will assist in addressing global food security, the UN Sustainable Development Goals and support Climate Smart Agriculture to the benefit of the world’s large and small holder farmers. We’re proud to have a role in such a meaningful goal and give SDTC our sincere thanks for their support.”