Farmers Edge Inc., a pure-play digital agriculture company, has announced the availability of its data-driven “Smart Carbon” program for agricultural markets in North America. The program harnesses the power of technology by combining hardware, software, agronomy, and customer support to create a true connected acre that gives farmers and their trusted advisors a 360-degree view of their carbon footprint with data from soil to sale.
The technology automatically tracks, measures, and benchmarks improvements in yields, soil health, and efficiencies of practices on a site-specific basis. The company estimates that the total addressable market within its current customer base will include at least six million new carbon offsets annually through carbon sequestration and emissions reductions.
Along with scaling its digital, connectivity-fueled carbon program, Farmers Edge is developing a system for food companies and elevators to purchase low-carbon grain.
Carbon credits in agriculture has evolved as a popular way for farmers to reduce their environmental footprint. February saw the launch of TruCarbon from Truterra LLC, the sustainability business and subsidiary of Land O’Lakes Inc. TruCarbon launched with Microsoft as its first secured buyer to purchase carbon in 2021.
For the initial launch, participating farmers may receive $20 per ton of carbon with payments this summer for this first tranche of credits. Qualifying farmers may be compensated for carbon sequestration retroactively up to five years based on the soil health practices they adopted in prior growing seasons. Truterra will handle soil testing and other activities designed to ensure maximum credit quality and value.