Coming Soon: The Yara-Radicle Carbon Challenge to Provide $1.25M Investment Toward Technologies to Decarbonize Farming
SAN DIEGO, Calif. – January 28, 2021 – Radicle Growth, a company building platform for early-stage ag and food technologies, today announced its latest Radicle Challenge, the Yara-Radicle Carbon Challenge. Radicle teamed up with Yara International, the world leader in crop nutrition and climate neutral solutions, and its newly established farm decarbonization business, The Agoro Carbon Alliance, to invest in two start-up companies that have technology to reduce the carbon footprint of the food value chain. Given that 25% of global greenhouse gas emissions are produced by the agriculture sector, we think that this pressing issue facing the food chain is one that we can invest in to help mitigate.
Explaining why Yara is investing in the business opportunity presented by farm decarbonization, Stefan Fürnsinn, SVP at Yara and global Head of the Agoro Carbon Alliance said, “The Agoro Carbon Alliance is a new business venture launched by Yara to enable people to choose a climate-positive food future. Our vision is to enable a win, win, win opportunity for farmers, the food chain, and society as a whole. We are highly committed to a low carbon food system, e.g., through Yara’s focus on carbon neutral crop nutrition, and are quickly building a global innovation pipeline in farm emission reduction and soil sequestration. However, we want to move fast, and make open innovation from start-ups across the world an integral part of advancing our business.”
Through this Challenge, Radicle Growth and Yara are looking for all technologies and new business models that touch the carbon space to help sequester and abate carbon—digital, supply chain tech, biologicals, blockchain, fintech, carbon credits, new business models, livestock management, and anything else that can help reduce or sequester carbon in the food value chain. A $1M investment will be made in the Challenge winner and a $250K investment to the second-place winner. The winners will also get access to and advice from both Yara and Radicle senior executives to help accelerate their company’s business and technical efforts. The global applicant pool will be narrowed to 4-6 finalists who will participate in a Pitch Day event with our panel of judges, including Svein Tore Holsether, CEO of Yara International, and Kirk Haney, Managing Partner of Radicle Growth.
Speaking on what the investment from winning a Radicle Challenge did for his business, Glenn Wanke, Chief Commercial Officer, Scanit Technologies, Inc., said, “The funding and agronomy expertise helped us scale our business, commercialize the technology, validate our efforts within the indoor horticulture and outdoor crop focus areas, bring on key talent to deliver on our product roadmap and raise follow-on capital.”
Applications open on Tuesday, March 2nd and will be accepted from companies of all stages, all around the world. Companies can request early access to the Challenge application before it opens to the public on the early interest form found at: https://radicle.vc/the-radicle-challenge/.
About Radicle Growth:
Radicle Growth selects innovative, early-stage companies for investment, ensuring that disruptive agtech & foodtech companies reach their full potential. In addition to providing seed-stage capital, Radicle Growth provides a fertile environment for visionaries in the ag and food space to flourish. Their proprietary platform is one of a kind in the ag and food industry, filling a huge void in the market by identifying the most innovative technologies and accelerating them with a range of value-creation initiatives. To connect and learn more about Radicle Growth follow us on LinkedIn, Twitter and Instagram.
Yara grows knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger, we pursue a strategy of sustainable value growth, promoting climate-friendly and high-yielding crop nutrition solutions for the world’s farming community and food industry.
Yara’s ambition is to be the Crop Nutrition Company for the Future. We are committed to creating value for our customers, shareholders and society at large, as we work to develop a more sustainable food value chain. To achieve our ambition, we have taken the lead in developing digital farming tools for precision farming, and work closely with partners throughout the food value chain to improve the efficiency and sustainability of agriculture and food production.
Founded in 1905 to solve the emerging famine in Europe, Yara has established a unique position as the industry’s only global crop nutrition company. With our integrated business model and a worldwide presence of around 16,000 employees and operations in over 60 countries, we offer a proven track record of responsible and reliable returns. In 2019, Yara reported revenues of USD 12.9 billion.