Climate-Smart Commodities Program to Benefit 180,000 Farms, Agritech Leads the Way

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May 09, 2024, 13:00 ET

USA News Group Commentary Issued on behalf of Bee Vectoring Technologies International Inc.

VANCOUVER, BC, May 9, 2024 /PRNewswire/ -- USA News Group – In order to help farmers advance conservation and climate-smart agriculture, the USDA recently made $1.5 billion available as part of US President Biden's Investing in America Agenda. The newly-available capital is part of several climate-smart agriculture investments the USDA has made since the beginning of the current Administration's reign, which have been made through the Inflation Reduction Act, and the Partnerships for Climate-Smart Commodities program, which have been estimated to support over 180,000 farms and over 225 million acres in the next 5 years. According to analysts at Straits Research the Smart Agriculture Market is projected to reach US$36.24 billion by 2030, growing at a CAGR of 10.8%, while Markets and Markets predicts the Precision Farming Market to grow to US$21.9 billion by 2031, growing at a CAGR of 10.7%. As farmers and the agriculture industry works to produce environmentally friendly food that meets these goals, several agritech companies are working behind the scenes to help, including Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF), Nutrien Ltd. (NYSE: NTR) (TSX: NTR), The Mosaic Company (NYSE: MOS), CF Industries Holdings, Inc. (NYSE: CF), and Bunge Global SA (NYSE: BG).

With its innovative system that utilizes commercially reared bees to deliver biological pesticide alternatives directly to crops, Bee Vectoring Technologies International Inc. (BVT) (CSE: BEE) (OTCQB: BEVVF) is poised to disrupt the $250 billion crop protection and fertilizer market. Biological agricultural products, often referred to as biologicals, are expected to eventually supplant chemical pesticides and fertilizers. According to analysts at DataHorizzon Research, the biologicals sector is forecasted to grow at a CAGR of 13.3%, reaching a market size of US$45.3 billion by 2032.

BVT recently updated its corporate partnership strategy, securing new international trials and expanding the use of its flagship asset, CR-7. The company also announced the results from a Michigan State University trial, demonstrating that CR-7 effectively reduces early disease infection and fungal disease by over 90% compared to untreated plots, matching the efficacy of conventional chemical treatments.

"We can confidently conclude from the Michigan State University trial that BVT's CR-7 controls fungal disease extremely well as a spray application," said Dr. Mason Newark, Field Technical Manager at BVT. "This trial demonstrates that CR-7 could be integrated into a pre-bloom or post-bloom spray program to extend disease control throughout the season."

Over the past year, BVT has already achieved significant milestones with trial announcements in Spain with Agrobío, Mexico with a major multinational grower, and South Africa with MBFi, highlighting the expanded use of the proprietary plant-beneficial microbe, Clonostachys rosea CR-7, as a foliar application. This expansion included the product's first sale to BioSafe Systems. Building on the successful Michigan State University trial results, plans are in place to repeat these trials in the coming years. To further bolster its technical and strategic capabilities, the company has welcomed seed and crop protection veteran Gustavo C. Gonzalez to its Board of Directors.

"Gustavo's appointment is a reflection of our commitment to lead the industry into a future where innovation and sustainability are at the core of growth," said Ashish Malik, CEO of Bee Vectoring Technologies. "His extensive experience in agribusiness and profound understanding of the international market dynamics will be pivotal as we scale our unique technology. We are thrilled to harness his expertise as we continue to revolutionize the way crops are cultivated and protected."

Working to make food production more sustainable, leading crop inputs and services provider Nutrien Ltd. (NYSE:NTR) (TSX: NTR) recently released its Global Sustainability Report, detailing the company's performance and progress no its sustainability initiatives up until year-end 2023. Among the key highlights, Nutrien noted measured, documented and calculated sustainable outcomes on approximately two million sustainably engaged acres in North America, South America and Australia.

"Nutrien has a critical role to play in helping provide the food, fuel and fiber the world needs," said Tim Faveri, Vice President, Sustainability and Stakeholder Relations for Nutrien. "In 2023, we continued to build strategic partnerships to help amplify our impact while refining our sustainability strategy to align with core business objectives that support both the environment and our people, customers, supply chain partners, communities and shareholders."

Further demonstrating its commitment to shape future agriculture leaders, Nutrien subsidiary Nutrien Ag Solutions announced a multi-year commitment of nearly $850,000 to the National FFA Organization. As per the commitment, Nutrien will donate $282,500 per year to support a variety of National FFA Organization programs and events from 2024 through 2026.

According to Bruce Bodine, newly-appointed CEO of The Mosaic Company (NYSE: MOS), fertilizer demand is set to rise. Mosaic is coming off of recently hosting members of the agriculture community in Florida to tour their phosphate operations, and learn more about the company's Advanced Crop Nutrition (ACN) program. The ACN program is supported by Mosaic Biosciences' BioPath and PowerCoat products, which are both biological fertilizer components formulated with proven strains of Plant Growth Promoting Rhizobacteria (PGPR), that increase nutrient availability, uptake, and utilization.

"At Mosaic, we view soil health as a system approach, therefore any change to one part of the system affects other parts," said Keith Byerly, Commercial Sustainability Lead, for The Mosaic Company in an interview with CropLife. "For example, if you cut out seed treatments, the microbial, or the soil fertility program, you're unlikely to achieve optimum soil health. In addition, you've disrupted the balance and equilibrium of the system."

The world's largest ammonia producer CF Industries Holdings, Inc. (NYSE: CF) recently announced the execution of a joint development agreement (JDA) with Japan's largest energy company JERA Co. Inc. (JERA), to explore the development of greenfield low-carbon ammonia production capacity at CF Industries' Blue Point Complex in Louisiana. As per the JDA, CF Industries and JERA will evaluate a joint venture agreement to build an approximately 1.4 million metric ton capacity low-carbon ammonia plant, with JERA contemplating a 48% ownership stake in the project, as well as a potential offtake agreement to procure more than 500,000 metric tons of low-carbon ammonia annually to meet demand for low-carbon fuels in Japan.

"We are pleased to expand our relationship with JERA as our companies advance leading-edge decarbonization initiatives that will help JERA and Japan achieve their decarbonization goals," said Tony Will, President and CEO of CF Industries Holdings, Inc. "We believe that JERA's projects, which represent the first meaningful volume of what we believe will be substantial global demand for low-carbon ammonia as an energy source, will demonstrate the significant contribution ammonia can make to meet the decarbonization goals of hard-to-abate industries."

Upon the potential closing of somewhat controversial merger between Bunge Global SA (NYSE: BG) and Viterra, the duo have already named the executive leadership team for the combined company that would be solidified as the world's largest oilseed processor, which would be led by Bunge's current CEO, Greg Heckman.

"The future combined company will expand its reach into more crops and countries, offering farmers greater market access and differentiated, value-added solutions in all key origins," said Heckman. "Food, feed & fuel customers will benefit from a broader product portfolio and expanded global supply options."

Bunge is also coming off of an approved final investment decision with Chevron to build a new oilseed processing plant adjacent to its existing processing facility located on the Gulf Coast in Lousiana. Operated under the jointly owned Bunge Chevron Ag Renewables LLC, the plant features a flexible design, intended to process soybeans as well as softseeds, including novel winter oilseed crops, such as winter canola and CoverCress, among others.

Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/

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