Connect with:
Saturday / April 20. 2024

logo
mobile-logo
HomePosts Tagged "Ron Hovsepian"
Agrotech, Company News, Finance, North America, Sustainability

The capital will be invested in profitably scaling Indigo’s unique science and technology to boost farm revenues and de-carbonize the planet.

Boston based Indigo Ag, the premier sustainability partner of the agriculture industry, announced that it has raised over $250 million to drive innovation and growth in its sustainable agriculture programs and better serve its customers and partners. The successful investment round signals market validation of the company’s strategy and confidence in Indigo’s unique ability to drive farmer and agribusiness success at scale.

“Farmers and agribusinesses need strong, innovative partners that create value,” said Jed Miller, chief strategy officer for Ag Partners Coop. “This fundraise is not only a win for Indigo, but a major win for market access. We look forward to continuing our collaboration with Indigo to drive farmer success.”

The funding round includes existing investors, led by Flagship Pioneering, and new investors, including the State of Michigan Retirement System, one of the largest pension funds in the U.S. and Lingotto Investment Management, a $3 billion innovation-focused fund owned by Exor N.V., one of Europe’s largest diversified holding companies.

“In this difficult and obsessively short-term financial environment, it is vital to back innovative companies that are critical to meeting the challenges of the future of the Earth,” said James Anderson, Managing Partner and Chief Investment Officer –Innovation at Lingotto. “We believe that Indigo Ag has endured demanding times but now has a bright future and an important role in mitigating climate damage. Therefore, Lingotto Innovation is proud to support the company.”

Indigo has entered a period of acceleration across its integrated business platform:

Net revenues for 2022 grew 40 per cent year-over-year and revenues for the first seven months of 2023 grew 90 per cent compared to 2022.

Through its digital sustainability products, Indigo has had success working with multibillion dollar companies to reduce their Scope 3 emissions through its Market+ Source program and is on track to deliver 30 million bushels of sustainably grown grains in 2023.

The company has also produced an industry-leading 133,000 registry issued, agricultural carbon credits of the highest quality and scientific rigor. Indigo is already working on its unprecedented third carbon crop and enrollment figures for its fourth carbon harvest show continued growth in both farmer and acreage participation.

Indigo will continue the expansion of its digital products – Market+ Source sustainable crop program – and has a biological product pipeline of 38 new biological products scheduled to launch globally over the next 30 months.

“This important fundraise signals Indigo Ag’s successful transition from a startup to a trusted partner that is delivering critical sustainability solutions,” said Ron Hovsepian, President and CEO of Indigo Ag. “We have the science, business momentum and sufficient resources to continue to deliver on our promises to our partners and customers. We are well positioned for growth and profitability as we work with the agricultural value chain to turn sustainability into real value.”

The capital will be invested in profitably

Agrotech, Company News, Foodgrains, World

Through its Market+ Source sustainable crop program, Indigo Ag will use its proprietary measurement, reporting, and verification (MRV) capabilities to help CGB quantify the emissions factor

Indigo Ag, announced a program with Consolidated Grain and Barge Co., a subsidiary of CGB Enterprises, Inc. and a leader in the grain and transportation industries, designed to quantify the environmental benefits of sustainably grown crops sourced by CGB.

Through its Market+ Source sustainable crop program, Indigo Ag will use its proprietary measurement, reporting, and verification (MRV) capabilities to help CGB quantify the emissions factor for the grain they purchase from farmers using more sustainable farming practices. These grains would be purchased at a premium and ultimately sold to CGB customers looking to decarbonise value chains, including food and beverage companies, ingredient companies and regenerative and sustainable fuel producers.

Indigo’s proprietary MRV capabilities use the highest scientific standards to quantify environmental benefits for companies participating in the Market+ Source program.

“As corporations look to achieve their Scope 3 emissions targets, the ability to quantify the environmental impact of sustainable practices with a high degree of certainty is critically important,” said Ron Hovsepian, president and CEO of Indigo Ag. “We are excited to work with companies like CGB who are demonstrating leadership in the industry by committing to help farmers make more money through the adoption of sustainable practices while reducing emissions in the ag value chain.”

“At CGB we are driven to connect value-added solutions to our upstream farmer producers, while simultaneously meeting the evolving needs and quality characteristics of our downstream consumer,” said Eric Slater, President and CEO of CGB Enterprises, Inc. “Through our work with Indigo, we are excited to expand upon and connect value-added production practices at the farm level that would promote sustainability within the grain, feed, and food supply chains.”

Through its Market+ Source sustainable crop program, Indigo

Climate, Nature, Supply Chain, Sustainability, World

The company delivers more than 10 Million bushels of sustainably grown grain, helping companies meet climate commitments

Indigo Ag, the premier sustainability partner of the agriculture industry, is using its proprietary measurement, reporting and verification (MRV) capabilities to help consumer goods companies measure and reduce their Scope 3 emissions and water use through the agricultural supply chain.  

Through its Market+ Source (Scope 3) program, Indigo connects consumer goods companies to sustainably grown crops within their existing supply chain. Indigo partners with agribusinesses to support farmers in adopting sustainable practices, the results of which are quantified through Indigo’s MRV capabilities. The company has had success working with multibillion-dollar companies over the last few seasons to deliver more than 10 million bushels of sustainably grown grains, reducing emissions by more than 15,000 metric tons and saving 6.7 billion gallons of water – enough to sustain 36 million people for a year.  An additional 13 million bushels have been contracted to be delivered in 2024. Indigo has secured farmer premiums of up to 10 per cent for sustainably grown crops with minimal impact on the price of finished goods.  

For The North Face and other VF Corporation brands, Indigo used its MRV capabilities to deliver more than 31,000 bales of sustainably grown cotton.  

“We are excited about the positive environmental impacts regenerative cotton production can have not only for The North Face products but for our industry as a whole,” said Carol Shu, senior manager of global sustainability for The North Face. “Regenerative agriculture-sourced materials have the ability to shift the industry from simply ‘doing less harm’ to actually replenishing or having a positive impact on nature and resources. As a brand that is committed to protecting the outdoor places we love to play in, we believe this is another critical step in addressing climate change impacts in our supply chain.”  

“The scientific rigour of our models and operational processes have allowed us to connect sustainability claims to the physical delivery of grain and cotton, and we are seeing incredible success,” said Ron Hovsepian, president and CEO of Indigo Ag. “This is just the beginning. With the Science Based Targets initiative (SBTi) guidance on Forest, Land and Agriculture finalised last year and the Greenhouse Gas Protocol’s guidance on the land sector and removals expected to be finalised this fall, we are well positioned to help corporations achieve their Scope 3 targets. We look forward to expanding our capabilities to include more crops and more practices to better serve more corporations.”  

Indigo’s proprietary MRV capabilities use the highest scientific standards to quantify environmental benefits for companies participating in the Market+ Source program. The program currently includes corn, wheat, rice, and cotton, and will be expanding to new crops in 2024. 

The company delivers more than 10 Million