Farmers Edge awarded $6.1M investment from Sustainable Development Technology Canada
“New funds will help the precision ag pioneer reduce fertilizer, water and pesticide use in agriculture”
VANCOUVER, BC — September 19, 2016 — Farmers Edge™, a global leader in precision agriculture and independent data management solutions, announced today that it will receive $6,107,563 million CAD from Sustainable Development Technology Canada (SDTC) with an additional $12.2 million from internal sources and contributions from consortium partners. Farmers Edge 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.”
Sustainable Development Technology Canada (SDTC) is an arm’s-length foundation created by the Government of Canada to support innovative and entrepreneurial clean technology projects. Our portfolio of companies develop and demonstrate new technologies that address issues related to climate change, air quality, clean water and soil.
About Farmers Edge
Farmers Edge™ is a global leader in precision agriculture and independent data management solutions. Leading the development and application of new technologies on the farm since 2005, Farmers Edge is defining the future of agriculture through innovation. For more information on Farmers Edge, please visit: https://www.farmersedge.ca
MissionCTRL for Farmers Edge