Expansion of the technology platform will
support farmers and buyers in meeting rising demand for sustainable
farm products
Farmers Business Network (FBN®) and ADM (NYSE: ADM) today
announced that they have launched a joint venture, Gradable,
creating a new company to expand the Gradable technology platform
and enable more farmers and buyers to confidently pursue and derive
value from grain produced using sustainable and regenerative
practices.
First introduced in 2020, the Gradable platform tracks
sustainable and regenerative agricultural practices and outcomes,
making it easier for farmers to earn financial rewards. For grain
buyers, Gradable provides reliable farm-level data, allowing them
to easily identify and purchase grain that helps them meet growing
customer demand for sustainably produced products.
Currently, Gradable, whose partners include ADM, POET, and
Attebury Grain, LLC, is a leading grain procurement platform in
North America, with over 20,000 farmer users across more than 12
million acres. It has scored more than 200 million bushels of corn
and soybeans, analyzed 48 million acre-years of agronomic events,
and facilitates over $30 million in financial incentives for
sustainable practices each year. The new 50-50 joint venture will
enable Gradable to expand and reach new partners and customers at
every stage of the grain supply chain – from growers to grain
buyers.
“Gradable is rapidly becoming one of the industry’s leading and
largest technology platforms enabling sustainability scoring at
scale. We welcome all partners from the CPG and grain buying
industries and look forward to serving new markets and more
farmers,” said Steele Lorenz, the newly appointed CEO of
Gradable.
Expanding Value Creation for Farmers, Grain Buyers and End
Customers
The demand for sustainably produced crops is increasing
steadily, driven by consumer preferences, corporate commitments and
initiatives, and public policy. To meet this demand, Gradable will
expand across ADM's hundreds of facilities spanning the U.S. and
Canada; increase the number of commercial partners and countries
served; and have capabilities to help the supply chain meet global
demand needs for more sustainable food, feed, fuel and industrial
products.
“We're excited to partner with an agricultural leader like ADM
to launch Gradable, providing thousands of farmers with powerful
sustainability solutions,” said FBN CEO Diego Casanello. “By
combining our expertise, Gradable will enhance insights,
incentives, and support to help growers profitably adopt
regenerative practices. We believe Gradable can become the
industry-leading platform."
“ADM’s regenerative agriculture efforts enrolled more than 2.8
million acres last year, and we know that’s just the beginning,”
said Greg Morris, president of ADM’s Ag Services and Oilseeds
business. “The continued expansion of this work requires a strong
technology platform that enables farmers to easily participate and
provides farm-level data for grain buyers and end customers. This
new joint venture paves the way for the continued growth of
Gradable, opening the door for even more farmers, commercial grain
partners, and end customers to benefit from regen ag practices and
the growing demand for sustainably sourced products.”
About the Gradable Digital Platform
The Gradable technology platform was developed to provide a
modern digital infrastructure to strengthen the relationship
between grain buyers and farmers, as a new era emerges requiring
efficient, transparent, and secure grain transactions for
production agriculture. Gradable’s digital infrastructure does this
by connecting farmer and buyer experiences into a single, secure
technology platform. Gradable also lays the groundwork for
increased farmer participation in new sustainability demand by
allowing them to seamlessly collect and calculate verifiable
production data – including carbon scores – empowering them to
monetize these downstream benefits in the market.
About Steele Lorenz, Gradable CEO
Steele Lorenz has been named as Gradable's CEO. Since 2023,
Lorenz served as Senior Director of Strategy and Business
Operations at FBN; prior to that, he launched and led FBN’s
Sustainability Business. He previously founded the irrigation
provider, MyRain.
Forward-Looking Statements Regarding ADM
Some of the above statements constitute forward-looking
statements. ADM’s filings with the SEC provide detailed information
on such statements and risks, and should be consulted along with
this release. To the extent permitted under applicable law, ADM
assumes no obligation to update any forward-looking statements.
About FBN
Farmers Business Network, Inc. (FBN®) is a pioneering digital
marketplace and farmer-to-farmer network dedicated to empowering
family farmers globally while promoting sustainable agriculture.
With over 87,000 members, FBN's Farmers First® promise unites
growers and ranchers in their quest to maximize profitability and
increase food production. FBN leverages data, AI and direct-to-farm
delivery to simplify the agricultural supply chain, boosting
convenience and transparency, reducing farm input costs, enhancing
access to capital and services, and providing personalized
insights. Combining Midwestern agricultural expertise with Silicon
Valley innovation, FBN operates from principal offices in San
Mateo, California, and Chicago, Illinois. For more information,
visit www.fbn.com.
About ADM
ADM unlocks the power of nature to enrich the quality of life.
We’re an essential global agricultural supply chain manager and
processor, providing food security by connecting local needs with
global capabilities. We’re a premier human and animal nutrition
provider, offering one of the industry’s broadest portfolios of
ingredients and solutions from nature. We’re a trailblazer in
health and well-being, with an industry-leading range of products
for consumers looking for new ways to live healthier lives. We’re a
cutting-edge innovator, guiding the way to a future of new consumer
and industrial solutions. And we're a leader in sustainability,
scaling across entire value chains to help decarbonize the multiple
industries we serve. Around the globe, our innovation and expertise
are meeting critical needs while nourishing quality of life and
supporting a healthier planet. Learn more at www.adm.com.
Source: Corporate Release Source: ADM
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version on businesswire.com: https://www.businesswire.com/news/home/20240819257378/en/
Keith Chapman, FBN Media Relations
Keith@chappublicrelations.com
Jackie Anderson, ADM Media Relations media@adm.com
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