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Agrotech, Award, Company News, Drones, India, Start ups

 This global recognition highlights Garuda Aerospace’s pioneering spirit and its commitment to developing cutting-edge drone technologies. 

India’s leading drone manufacturer Garuda Aerospace, is honoured to be recognised as the winner at the international TiE50 Award 2024 for its leading innovation and technology in the drone industry. This global recognition highlights Garuda Aerospace’s exceptional achievements, its pioneering spirit and its commitment to developing cutting-edge drone technologies.  The win positions India as a key player in the global drone industry.

The highly competitive annual award attracted participation from thousands of promising startups across the world. Garuda Aerospace emerged victorious post a rigorous selection process involving multiple rounds. Marking its 14th year, the TiE50 awards have been a hallmark of identifying and honoring the most impactful and disruptive technology-enabled startups.

Garuda Aerospace will be felicitated at the grand stage with the TiE50 winner trophy at the TiEcon 2024. TiEcon is a premier global tech conference designed for leading entrepreneurs, corporate executives, and investors.

Elated on the win, Agnishwar Jayprakash, CEO and Founder, Garuda Aerospace said, “We are honored to be recognized as a TiE50 Award Winner. This award is a validation of our team’s hard work and unwavering dedication. Garuda Aerospace is proud to represent India at an international level and position India as a global drone hub. We are committed to pushing the boundaries with continuous research and innovation, thereby contributing to the advancement of drone technology worldwide.”  

Backed by MS Dhoni, Garuda Aerospace is shaping the future of drone ecosystem in the country. Recently, the company secured orders of high-tech quadcopter drones from ISRO. Garuda Aerospace also dominates the drone market with 55 per cent market share in agri drone category and 25 per cent market share across all drones in India.

 This global recognition highlights Garuda Aerospace's pioneering

Company News, Finance, Funding, India, Start ups

The recent raised funds will enable Samunnati to strengthen its business operations and customize its solutions to meet the specific needs of different value chain players.

Samunnati, a leading agri value chain enabler, had an impressive $155 million in funding in the financial year 23-24. Now, setting the stage for the current financial year, Samunnati has begun FY24-25 by securing a $5 million in debt funding through an External Commercial Borrowing (ECB) from Enabling Qapital, a renowned global impact investment advisory firm.

In FY 23-24, Samunnati had made significant strides by securing $155 million in funding, comprising $132 million in debt funding and an additional $23 million in equity funding through the pre-series E round, all accomplished amidst a challenging funding landscape.

The recent strategic investment by Enabling Qapital is poised to propel Samunnati’s vision of revolutionizing the Indian agricultural sector by empowering small and marginal farmers. This infusion of fresh capital will facilitate Samunnati’s expansion efforts, enabling it to reach a broader spectrum of farmers across India while advancing financial inclusion initiatives.

Anil Kumar, Founder and Group CEO at Samunnati, emphasised, “This strategic funding from Enabling Qapital is a testament to the confidence investors have in the role Samunnati plays in bridging the credit gap for smallholder farmers. With these resources, we are well-positioned to empower countless farmers, drive agricultural progress, and contribute to a more prosperous rural India.”

Moreover, in the recent years, Samunnati has emerged as a few companies in this sector, where reputed investors have shown their confidence and have come onboard. During FY23-24, it garnered investments from 13 esteemed lenders, comprising a prestigious roster including USDFC, Credit Saison, Tata Capital, Poonawalla, Hinduja Leyland Finance, Wint wealth, Altifi, Alteria Capital, and Anicut Capital.

The recent raised funds will enable Samunnati to strengthen its business operations and customize its solutions to meet the specific needs of different value chain players. By enabling access to finance, Samunnati empowers farmers to invest in their agricultural activities, thereby improving yields and increasing their income. This not only contributes to the overall growth of the agricultural sector but also fosters rural economic development.

The recent raised funds will enable Samunnati

AgroPolicy, Climate, Finance, India, Schemes - NABARD

Climate Strategy 2030 is structured around four key pillars – Accelerating Green Lending across sectors, Playing a broader Market-Making Role, Internal Green Transformation of NABARD, and Strategic Resource Mobilization.

In a significant stride towards sustainable development, NABARD unveiled its Climate Strategy 2030 document on the occasion of Earth Day. The document was released by Shaji K V, Chairman NABARD. This comprehensive strategy aims to address India’s escalating need for green financing.

Despite the pressing demand, where India requires approximately US$ 170 billion annually to reach a cumulative total of over US$ 2.5 trillion by 2030, current green finance inflows are critically insufficient. As of 2019-20, India garnered about US$ 49 billion in green financing, merely a fraction of what is needed. With the majority of funds earmarked for mitigation, only US$ 5 billion was allocated towards adaptation and resilience, reflecting the minimal private sector engagement in these areas due to challenges in bankability and commercial viability.

NABARD’s Climate Strategy 2030 is structured around four key pillars to address this demand: (i) Accelerating Green Lending across sectors, (ii) Playing a broader Market-Making Role (iii) Internal Green Transformation of NABARD, and (iv) Strategic Resource Mobilization.

This strategic initiative not only reinforces NABARD’s commitment to environmental stewardship but also positions it as a pivotal player in India’s transition towards a resilient and sustainable economy.

Climate Strategy 2030 is structured around four

Agribusiness, Company News, Farm Mechanisation, Machinery - Pre-harvesting, Machinery – Post-harvesting, People, World

Prior to first joining CNH in January 2019, Marx worked for 20 years in senior roles at McKinsey, Daimler Trucks, and Bain Capital, living in Brazil, China, Europe and Japan.

CNH Industrial announced the appointment of Gerrit Marx to the role of CEO effective July 1, 2024. He succeeds Scott Wine, whose request to leave the Company at the end of the current three-year business plan cycle to pursue other interests, has been accepted by the Board. Marx rejoins CNH from Iveco Group where as CEO he has led that company’s drive into a new era of connectivity, integrating the latest digital and data technologies with Iveco’s product offering. He has also chaired Iveco’s powertrain business overseeing its transition to alternative propulsion systems. Prior to first joining CNH in January 2019, Marx worked for 20 years in senior roles at McKinsey, Daimler Trucks, and Bain Capital, living in Brazil, China, Europe and Japan.

During the more than three years of Wine’s tenure as CEO, CNH has become an agriculture and construction pure-play following the Iveco Group demerger and is now solely listed on the New York Stock Exchange. Among his achievements, Wine has delivered three straight years of record revenues and EBIT margins while overseeing the improved performance of the Company’s Agriculture segment, the turnaround of the Construction segment, and the 2021 acquisition of Raven Industries, the precision agriculture technology business. In this period the Company has more than doubled its R&D expenditures, launched ambitious margin improvement and value enhancement initiatives, and by May 2024 will have returned more than $3 billion to shareholders in the form of dividends and share buybacks.

CNH’s Chair, Suzanne Heywood commented: “We’re delighted to welcome Gerrit back to CNH as CEO. We look forward to him bringing the same energy and focus he has demonstrated so effectively when leading Iveco, to his new role at a time when CNH is navigating the current end-market downcycle with an emphasis on managing inventory and costs, expanding margins, and harnessing the full potential of the newly established tech stack. On behalf of the Board, I would also like to thank Scott Wine for his leadership and considerable contribution to CNH’s progress in these years and wish him well in his future endeavors.”

With Marx’s appointment as the Company’s new CEO taking effect on July 1, 2024, the Board has decided that the Investor Day presentation scheduled for May 21, 2024, will be postponed to a later date to allow Marx to lead the Company’s planning and objectives for the next phase of its development. In the meantime, the Company’s first quarter financial results will be presented as planned in a conference call on May 2, 2024 by Mr. Wine, who will continue as the Company’s CEO until the end of June.

Marx returns to CNH from Iveco Group, succeeding Scott W. Wine who has decided to leave the Company having successfully overseen the delivery of the 2021 Business Plan.

Prior to first joining CNH in January

Agribusiness, Agro chems – Chemicals, Company News, World

This prestigious acknowledgment reinforces UPL’s position as one of India’s leading agrochemical companies in the market.

UPL Ltd., a global provider of sustainable agricultural solutions, has been recognised as a ‘Well-Known Trademark’ by the Indian Trademark Registry. This prestigious acknowledgment reinforces UPL’s position as one of India’s leading agrochemical companies in the market, thereby fostering trust and credibility among customers.

In 2021, UPL filed its first “well-known” trademark application under the new regulations. The petition included comprehensive details about their brand evolution, extensive evidence of public recognition, and information on their various initiatives. After a detailed analysis and procedure, the company received the esteemed ‘Well-known trademark’ title.

In addition to strengthening UPL’s brand positioning, this recognition also provides enhanced legal protection, a competitive advantage, simplified marketing efforts, and increased company value. Speaking about the achievement, Ashish Dobhal, CEO, UPL SAS, said, “We are honoured to have been recognized as the ‘Well-Known Trademark’. This achievement underscores our relentless pursuit of excellence and commitment to delivering innovative solutions to empower farmers with the best[1]quality products for enhanced agricultural productivity. This acknowledgment validates our brand’s prominence in providing best-in-class agricultural solutions to farmers worldwide.”

A “well-known” trademark denotes a high level of recognition among the public, associating the brand with specific goods or services. This recognition is so strong that using a similar mark for different offerings could mislead consumers and create confusion about the source or origin. The 2017 Rules established a streamlined process for seeking “well-known” status. Companies can submit detailed applications to the IP Office, outlining their brand history, evidence of recognition, and supporting documentation.

UPL remains steadfast in its commitment to innovation, sustainability, and customer-centricity as it continues to pave the way for a more resilient and prosperous agricultural future.

This prestigious acknowledgment reinforces UPL’s position as

Agrotech, Collaborations, Company News, Drones, India, Start ups

This will pave the way for the company to achieve the historic milestone of becoming the first-ever Indian drone Unicorn start-up.

Garuda Aerospace, a leading drone manufacturer in India, has announced its collaboration with the Indian Space Research Organisation (ISRO), a premier space agency. This partnership will see ISRO procuring Garuda Aerospace’s advanced Quadcopter drones, marking the company’s foray into the space-tech category.

Garuda Aerospace is renowned for its cutting-edge drone technology, incorporating machine learning and artificial intelligence. The integration of these drones into ISRO’s operations is expected to enhance efficiency across various tasks undertaken by the space agency.

The collaboration between Garuda Aerospace and ISRO began with ISRO sampling the company’s drones in 2021 for the delivery of medicines and food supplies. Subsequently, Garuda Aerospace’s drones were also used for sanitizing building premises with the spraying of disinfectants during the COVID-19 pandemic. These successful trials played a pivotal role in Garuda Aerospace securing the order from ISRO for Quadcopter drones.

Commenting on this milestone, Agnishwar Jayaprakash, CEO, and Founder of Garuda Aerospace, expressed his enthusiasm, stating, “Receiving an order from the esteemed Indian Space Research Organisation marks a monumental achievement for us. It showcases our dedication and relentless pursuit of excellence. We firmly believe that Drones and Unmanned Aerial Vehicles will play a pivotal role in the space sector. Our partnership with ISRO not only validates our credibility but also solidifies our position as industry leaders.”

He also highlighted the recent governmental support, such as the approval of 100 per cent Foreign Direct Investment into the space sector, which presents an exciting opportunity for Garuda Aerospace. This landmark decision is expected to provide crucial financial support and pave the way for the company to achieve the historic milestone of becoming the first-ever Indian drone Unicorn start-up.

Garuda Aerospace, founded in 2015, has grown from a team of 5 to over 200 members. It boasts the largest drone fleet in India, with over 400 drones and 500 pilots operating in 84 cities. The company manufactures 30 types of drones and offers 50 types of services, catering to a diverse clientele including TATA, Godrej, Adani, Reliance, and many others.

This collaboration between Garuda Aerospace and ISRO is expected to drive innovation and technological advancements in the space sector, further solidifying India’s position as a global leader in aerospace technology.

This will pave the way for the

Agbiologicals, Agribusiness, Company News, Fungicides, Trade, World

The acquisition is set to strengthen UPL Corp’s portfolio of solutions and leadership in the multisite fungicide market.

UPL Corporation Ltd. (UPL Corp), a global provider of holistic and sustainable agricultural solutions, announces that it has completed the acquisition of Corteva Agriscience’s solo mancozeb global fungicide business outside of China, Japan, South Korea, UK, Switzerland and EU member countries. The acquisition is set to strengthen UPL Corp’s portfolio of solutions and leadership in the multisite fungicide market, giving the company ownership of Dithane®, the original global mancozeb brand which has provided farmers with a reliable disease management solution, as well as access to Rainshield™ technology which enables crop protection in wet weather conditions.

Christina Coen, Chief Marketing Officer for UPL Corp, said “We recognize mancozeb’s vital role not just in protecting crops, but in safeguarding global food security and transforming farmer livelihoods. This acquisition cements our leadership in the multi-fungicide market and enables us to continue adding to our ever-growing portfolio of farmer-first solutions, and expanding the use of this vital molecule for years to come. We are committed to ensuring a smooth transition for all customers, and look forward to helping growers produce sustainable crop yields and future-proof food security.”

The acquisition is limited to Corteva’s solo formulations of mancozeb, with Corteva retaining ownership of premix formulations. With the deal, UPL Corp has acquired access to the full regulatory scientific dossier of mancozeb including all data, registrations, trademarks for Corteva’s solo mancozeb products, and a license to the Rainshield™ technology.

The acquisition is set to strengthen UPL

Agribusiness, Agrotech, Company News, India, Seeds

Company launched Excellence Center in Nashik as a pilot and also plans to expand SapRaiseTM across the country.

Committed to improve crop yield and farmers’ income, Syngenta India, a leading Swiss based agri-science and seed technology company, announced the launch of SapRaiseTM, a pioneering smart seedling solution which promises to bring about transformative change in the agricultural sector in Maharashtra and create a high-tech resource of quality vegetable seedlings for the farmers of Nashik and Pune. Nashik being a leader in horticulture, contains Asia’s biggest Tomato mandi, grows tomato in 80000-acre, cauliflower in 30000-acre, watermelon in 2500 acre and capsicum &hot pepper in 10000 acres, would benefit from SapRaiseTM initiative and get high yielding crop seedling solutions round the year.

The debut of SapRaiseTM Nursery in collaboration with OM Gayatri Global Seedlings marks a significant milestone in agricultural innovation in Nashik and Pune district. This hi-tech nursery will act as an Excellence Centre in seedlings production and is an outcome of the company’s strategic partnership with Syngenta’s Young Plant Raisers (YPR).

Susheel Kumar, MD and Country Head, Syngenta India, said, “Through this partnership, we aim to set new standards in seedling production by demonstrating advanced seedling development through collaborative business models with existing YPR partnership. SapRaiseTM smart seedlings solution highlights Syngenta’s commitment to enhancing the quality and profitability of our growers through shared knowledge and cutting-edge seedling technology”. “We all know that Nashik and Pune farmers are well versed with scientific solutions, they are aware and innovative in adopting farming solutions, I am certain our initiative would benefit the farmers here”, Susheel added.

SapRaiseTM support is designed to nurture early crop establishment for a large number of vegetable farmers in Nashik and Pune, which is crucial for enhanced crop quality and yield potential. “Our Excellence Center will provide growers with high-quality, healthy seedlings, ensuring that they have the best possible beginning to achieve superior crop yields and enhanced income”, informed Susheel. Nashik initiative has been launched on a pilot basis, Syngenta India plans to later expand the SapRaiseTM Excellence Center across the country, aiming to benefit farmers from all states.

In addition to boosting business quality, the Excellence Center will extend the sales reach of existing YPR partners, enabling growers in untapped and new geographical areas to access best quality seedlings. This expansion will ensure that more farmers can benefit from modern agricultural practices.

Company launched Excellence Center in Nashik as

Agribusiness, Agro chems – Chemicals, Company News, Finance, India, Seeds

Company registered Rs 148 Crores Profit After Tax in FY24 is compared to Rs 92 Crores for FY 23.

Rallis India Limited, a TATA Enterprise and a leading player in the Indian agri inputs industry announced its financial results for the fourth quarter of the financial year ending March 2024.

Announcing the results, Dr Gyanendra Shukla, Managing Director & CEO, Rallis India Limited, said, “FY24 PAT is Rs 148 Crores compared to Rs 92 Crores for FY 23. Company reported FY 24 revenue at Rs 2648 Crores, lower by 11 per cent over the previous year in the backdrop of continuing challenges in the exports demand and low agro-chemical prices. Positive low single digit volume growth in our Domestic Formulation business. Seeds revenue grew 21 per cent and delivered break-even profit. This was driven by the superior performance of our Cotton hybrids viz. Diggaz and Aatish Express. Our Innovation turnover index has also improved to 16 per cent in FY24.

Exports business declined by 35 per cent and the market continues to be under pressure due to Geo-political unrest and continuing de-stocking.

On a long-term basis, we remain focused on improving our market position through superior product offerings to solve farmer needs. We will continue our investment behind marketing, manufacturing, and digitization capabilities to build differentiation.”

Key Developments

Company has begun the work on new “Rallis Science and Technology Centre (RSTC)” to augment innovation capabilities

Continued its focus on refreshing its Domestic crop care portfolio and launched 3 new products in Crop nutrition portfolio in Q4FY24

Rallis was conferred with Significant adoption award for best in class by Tata Affirmative Action Programme (TAAP)

Rallis has been honoured with the Award of Merit at 1st edition of the CII National Awards for Artificial Intelligence (AI) 2023 for its AI based crop weather monitoring platform ‘Drishti’

Rallis is recognized as “Kincentric Best Employer” 2023 as one of India`s top 16 companies.

Company registered Rs 148 Crores Profit After

Agribusiness, Company News, Dairy, Finance, India

Company’s PAT in Q4 FY 24 was Rs.52.16 crores as against Rs 24.99 crores in Q4 FY 23 registered a growth of 108.76 per cent.

Chennai based Hatsun Agro Product Ltd, India’s leading private sector dairy company, has announced its financial results for the 4th Quarter and for Financial Year ended 31st March 2024. Company’s revenue from operations in Q4 FY 24 was Rs 2046.87 crores as against Rs 1789.46 crores in Q4 FY 23 registered a growth of 14.38 per cent. Company registered a growth of 39.04 per cent in milk procurement in FY 24 over FY 23.

COVID had disturbed the operations for two years, which led to an impact on milk procurement in the second half of FY 2022-23 and the first half of FY 2023-24. Normalcy has been restored in the second half of 2023-24 for both procurement of milk and sales.

Commenting on the results, R G Chandramogan, Chairman, Hatsun Agro Product Ltd said, “We are happy to report good growth in procurement of milk and revenues both in Q4 and for the full FY 2023-24. Strong sales recovery in the domestic market post Covid with good summer sales have led to good sales volume. All our business verticals did well with our leading brands registering healthy sales growth.

HAP’s retail expansion in the last two years helped us reach customers in new markets like Maharashtra, Orissa, West Bengal and Madhya Pradesh and also supported existing strong bases in South India. HAP in the last financial year, had invested about Rs 550 crores across new manufacturing facilities for capacity expansion in Curd and Milk Products and in market assets. The new capacities will further support our sales plans for FY 2024-25. Considerable investments have also been made to strengthen distribution, sales and marketing of our brands.”

Q4 FY 24 Vs Q4 FY 23 Highlights:

1. Revenue from operations in Q4 FY 24 was Rs.2046.87 crores as against Rs 1789.46 crores in Q4 FY 23 registered a growth of 14.38 per cent

2. EBITDA in Q4 FY 24 was Rs.231.77 crores as against Rs.158.05 crores in Q4 FY 23 registered a growth of 46.64 per cent.

3. PBT in Q4 FY 24 was Rs.70.89 crores as against Rs 32.88 crores in Q4 FY 23 registered a growth of 115.59 per cent.

4. PAT in Q4 FY 24 was Rs.52.16 crores as against Rs 24.99 crores in Q4 FY 23 registered a growth of 108.76 per cent.

5. Procurement of milk registered a growth of 39.04 per cent in FY 24 over FY 23.

FY 24 Vs FY 23 Highlights:

1. Revenue from operations in FY 24 was Rs.7990.40 crores as against Rs.7246.97 crores in FY 23 registered a growth of 10.26 per cent.

2. EBITDA in FY 24 was Rs.921.56 crores as against Rs.712.00 crores in FY 23 registered a growth of 29.43 per cent.

3. PBT in FY 24 was Rs.357.89 crores as against Rs.224.56 crores in FY 23 registered a growth of 59.37 per cent.

4. PAT in FY 24 was Rs.267.29 crores as against Rs.165.86 crores in FY 23 registered a growth of 61.15 per cent.

5. Procurement of milk in FY 24 registered a growth of 20.30 per cent

Company’s PAT in Q4 FY 24 was

Agbiologicals, Agribusiness, Collaborations, Company News, World

Via new agreement with AlphaBio Control, Bayer gains exclusive rights to market the first ever biological insecticide which will help farmers control pests in arable crops.

Bayer announced today that it has signed an agreement with UK-based company AlphaBio Control to secure an exclusive license for a new biological insecticide. The new product will be the first available for arable crops, including oilseed rape and cereals. Targeted for initial launch in 2028 pending further development and registration, this new insecticide was discovered by AlphaBio, with whom Bayer distributes FLiPPER® an award-winning bioinsecticide-acaricide.

“Farmers need innovative new solutions as they seek to continue to feed a growing population, overcome the impacts of climate change, and meet enhanced safety and sustainability standards,” said Benoit Hartmann, Head of Biologics at Bayer’s Crop Science Division. “Biocontrols are a perfect fit to our approach to scaling regenerative agriculture, and we’re excited to work to bring a new biological crop protection option to farmers that can be used for arable crops.”

The new bioinsecticide has potential for use against coleoptera insects like the cabbage stem flea beetle (CSFB), a pest insect that can damage oilseed rape crops throughout the growing season and even cause seedling death. The beetle is widespread in the United Kingdom and throughout much of Europe, and damage caused by adult CSFB feeding gives rise to ‘shot-holing’ symptoms which affect young plants and early leaves, resulting in stunted growth and poor plant health.

“We are delighted to license Bayer exclusive rights to our latest bioinsecticide which will significantly improve the choices available to arable farmers wishing to reduce the environmental impact of food production,” said Marta Ruiz, General Manager for AlphaBio Control.”

While many biological options are available for high-value vegetable and horticulture crops, where their cost can be offset by consumer-supported price premiums, arable crops require solutions that can be applied cost-effectively at larger scale in order to be competitive. Bayer’s systems approach, which combines various solutions, will help to maximize the cost efficiencies of this new product by including it in a digitally-supported integrated pest management system.

“With increasingly strong demand from farmers and changing consumer preferences, we see major growth potential for biological crop protections like this one,” said Ralf Glaubitz, Head of Global Asset Management for Seed Growth & Biologics at Bayer’s Crop Science Division. “We’re working to outgrow the market and achieve more than 1.5 billion euro in biological sales by 2035. That’s only going to happen if we innovate to solve the challenges that farmers face in all fields.”

The as-yet-unnamed biological insecticide will also be a supporting part of Bayer’s commitment to help reduce the environmental impact of crop protection products by 30 percent by 2030 without negatively impacting crop yields and health.

Via new agreement with AlphaBio Control, Bayer

Agribusiness, Agrotech, Climate, Cold Storage, Company News, Finance, Funding, India, Start ups, Supply Chain

Latest funding will be used to cater to the growing demand for Ecozen’s innovative products and to further its commitment to climate-smart technology.

Ecozen, a leader in climate-smart technology solutions, announced today that it has raised USD 30 million in a mix of debt and equity. This infusion of capital includes continued support from Nuveen and other existing equity investors, and new debt support from InCred Credit Fund and the U.S. International Development Finance Corporation (DFC) through Ecozen’s exclusive advisor Setuka Partners LLP.

The latest round of funding will be used to cater to the growing demand for Ecozen’s innovative products and to further its commitment to climate-smart technology. The company has grown 5X over the last two years, with profits growing 3X as well. Ecozen anticipates doubling its revenue in the current fiscal year, buoyed by strong demand for existing products and plans to leverage its tech stack of advanced motors and controls, thermal energy storage, AI and IoT to enter new segments undergoing a transition to cleaner energy sources. These solutions will decarbonise sectors like milling, mobility, retail and industry, just as the company’s pumping and cooling solutions did for agriculture. The company is also set to meaningfully expand its offerings and market presence into Africa and Southeast Asia.

“Ecozen is on an accelerated growth path, driven by the increased market demand for our pioneering climate-smart solutions,” said Devendra Gupta, CEO and Co-Founder of Ecozen. “The capital raised will enable us to scale our operations and deepen our market penetration in domestic and international territories. We are committed to empowering customers and expediting the transition to climate-smart technologies on a global scale. I thank our investors, Nuveen and other existing equity investors, for their continued support which will help us cater to the present opportunity. We are also happy to have institutions like the DFC and InCred partner with us in our journey of catalysing climate-smart solutions for agriculture and other key sectors in the future”, said Devendra Gupta, CEO and Co-Founder of Ecozen

 “Supporting companies like Ecozen aligns perfectly with Nuveen’s commitment to invest in businesses that have a profound impact on climate change mitigation and resilience,” said Rekha Unnithan, Managing Director and Head of Private Equity Impact Investing at Nuveen. “Ecozen’s continued growth and innovation exemplify the type of transformative impact we aim to achieve through our investments, paving the way for a sustainable and inclusive low-carbon economy.”

“We like Ecozen’s proven product and execution track record, and the way it has transformed the lives of farmers in India. With the government of India’s push on sustainable, climate friendly initiatives, we feel the company is poised for profitable growth,” said Saurabh Jhalaria, CIO – Alternative Credit Strategies at Incred Alternative Investments. “The opportunity in India and other developing markets is huge and we are excited to partner with Ecozen in its growth journey. The investment ties up well with our fund’s thesis on innovative cleantech solutions that can reach the masses.”

“DFC is pleased to be supporting an innovative and impactful project with Ecozen that aligns with our priorities of investing in climate adaptation solutions and improving agricultural productivity. This is a highly significant transaction that will improve production, reduce food loss, and decrease emissions in India”, said James Polan, DFC’s Vice President of Health & Agribusiness.

Latest funding will be used to cater

Agro Universities, Foodgrains, India, People, R&D

The award recognises Joshi’s outstanding contribution to wheat improvement in India.

The Society for the Advancement of Wheat and Barley Research (SAWBAR), ICAR-IIWBR, Karnal, bestowed the prestigious Sh. VS Mathur Memorial Award 2023 for outstanding contribution in the field of Wheat Crop Improvement.

T Mohapatra, former secretary of India’s Department of Agricultural Research and Education and director general of the Indian Council of Agricultural Research (ICAR), and Gyanendra Singh, director of the Indian Institute of Wheat & Barley Research (IIWBR) at ICAR, presented the award at the ceremony.

As recipient of this award Joshi, who is the managing director of the Borlaug Institute for South Asia (BISA), CIMMYT country representative for India, and CIMMYT regional representative for South Asia, also delivered the Sh. VS Mathur memorial lecture during the ceremony. In his speech, Joshi spoke about past and present developments in wheat improvement and emphasized the importance of wheat across the globe, touching on the post-Green Revolution era and the critical timeline of events in wheat improvement. He delved into the factors responsible for variations in wheat yield and how to meet the rising demand for wheat consumption.

Joshi advised that countries like India must bridge the yield gap by improving management in farmers’ fields, co-learning from other spring wheat-growing countries like Mexico and Egypt, and investing in science to address climate change. He also discussed opportunities to integrate modern science across all disciplines: genomics, gene editing, mechanization, robotics, AI, weed management, water, and nutrient use efficiency.

Talking about the future of wheat production, Joshi stressed the need to focus on traits that will be more important in the future, with an emphasis on accelerated genetic gain, gene-edited wheat, and how to breed heat-tolerant (40° C) varieties using various innovative tools and technologies.

The award recognises Joshi’s outstanding contribution to

Agribusiness, Animal Health, Company News, Finance, Investments, Live Stock, Sustainability

It will enable BioLumic to apply its technology to ryegrass, the most common forage pasture on New Zealand farms, with a goal to increase fat content and subsequently reduce methane emissions from animals that consume it.

AgriZeroNZ is investing up to $5 million (USD $3million) in BioLumic, an agriculture biotech company utilising ultraviolet (UV) light to develop a low emissions farm pasture with increased productivity gains.

Founded in New Zealand, BioLumic is internationally acclaimed for its unique and proprietary UV Light Treatments which are applied to seeds to regulate their genetic expression and unlock their natural genetic potential.

These treatments have been found to significantly improve plant performance across 12 crops including corn, soybeans and rice – driving double digit yield gains, improved quality and enhanced immunity to pathogens.

AgriZeroNZ funding will enable BioLumic to apply its technology to ryegrass, the most common forage pasture on New Zealand farms, with a goal to increase fat content and subsequently reduce methane emissions from animals that consume it.

AgriZeroNZ chief executive Wayne McNee says this could deliver a simple solution to reduce emissions on New Zealand’s predominantly pasture-based farms, to help meet the global customer demands for emissions reduction, protect trade agreements, and achieve New Zealand’s climate goals.

“Pasture is the foundation of the business for Kiwi farmers, so a pasture solution to curb methane and boost productivity will be an important option in their toolkit to reduce emissions.

“BioLumic’s work is an exciting prospect to help secure the future of farming in New Zealand with the very thing that makes our agricultural sector unique and drives our competitive edge today – high quality grass.They have achieved promising results on ryegrass to date. We’re looking forward to seeing how it progresses,” McNee said.

Animals with high-fat diets have lower methane emissions, such as grain-fed cattle in more intensive barn farming operations overseas. Studies* have found that a 1 per cent increase in lipids (fat) content of feed will reduce methane emissions by ~5 per cent. BioLumic is targeting a 2-3 per cent increase in the lipids content of ryegrass to drive methane reduction by over 12 per cent.

Based in Palmerston North and with offices in the United States, BioLumic was founded in 2013 by Dr. Jason Wargent, the company’s chief science officer and a Professor in Plant Biology at Massey University.

Funding from AgriZeroNZ was part of BioLumic’s capital raise to enable application of its suite of products to address major sources of greenhouse gas emissions.

“We’ve developed light recipes from billions of potential options that, with a precise application, can significantly increase plant performance across a range of crop varieties and growing conditions,” Dr Wargent said.

“We’re confident we can achieve similar results in ryegrass with a focus on reduced methane, and we’re really pleased to be working with AgriZeroNZ to develop this important solution for New Zealand to put farmers at the forefront of low emissions pasture farming.”

Dr Wargent said the company is targeting wide scale use from 2027, with reduced regulatory barriers expected from the light treatment approach which will support a faster speed to market.

This is the sixth major investment by AgriZeroNZ to accelerate the development of emissions reduction tools and technologies for Kiwi farmers, having committed over $22 million to date. Other investments include funding for a methane inhibiting bolus, novel probiotics, New Zealand research for a methane vaccine and inhibitor, and construction of a greenhouse gas testing facility.

McNee said the JV is aiming to have two to three emissions reduction tools in widespread use by 2030.

It will enable BioLumic to apply its