Pivot Bio Releases 2023 Impact Report

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Jun 05, 2024, 09:00 ET

Customers deliver nearly 1m MT of GHG reductions through improved nitrogen management

BERKELEY, Calif., June 5, 2024 /PRNewswire/ -- Pivot Bio, a leading sustainable agriculture company, today announced its customers, since the beginning of 2022, reduced carbon dioxide equivalent (CO₂e) emissions by over 932,000 metric tons (MT). The savings, the result of their using Pivot Bio's microbial nitrogen to improve the efficiency of their nitrogen management plans, is equivalent to the annual emissions of two-and-one-half gas-fired power plants — a leading pace of emissions reductions in agriculture.

The data comes from the company's latest Impact Report, which looks back on 2023 and provides in-depth evidence demonstrating the critical role microbial nitrogen plays in permanent on-farm decarbonization. Last year alone, growers who used Pivot Bio products avoided the emission of more than 700,000 MT of CO₂e — nearly 20 times the annual capacity of the world's most advanced direct air capture facility in Iceland.

"Nitrogen is an essential building block for life and agriculture, necessary to produce the food needed to meet global demand. But the status quo in nitrogen management is not enough," said Karsten Temme, Pivot Bio co-founder and chief innovation officer. "The data is clear — when our microbial-produced nitrogen is a foundational pillar of a holistic crop nutrition plan, growers can substantially reduce greenhouse gas emissions and make a positive on-farm impact that extends across global supply chains."

The 2023 Impact Report also highlights the company's N-OVATOR™ program, the first-ever insetting initiative to focus on nitrous oxide emissions by connecting growers with companies looking to draw down Scope 3 emissions.

In 2023 alone, Pivot Bio matched nearly 400,000 grower acres with downstream partners, including major consumer packaged goods companies, ingredient suppliers, spirit producers and grain buyers. In the process, it enabled the reduction of nearly 140,000 MT of permanent, nonreversible Scope 3 emissions. Pivot Bio expects the 2024 acreage will be higher once it finalizes additional downstream programs for corporate customers.

Through N-OVATOR™, Pivot Bio partnered with over a half-dozen companies to develop programs that returned dollars to growers for the CO₂ and N₂O reductions and watershed improvements they delivered. Many of the growers received payments that resulted in up to 35% of their product cost coming back to them as cash payments. The net effect of these payments to growers typically makes Pivot Bio products their cheapest form of nitrogen — across all sources of nitrogen.

"Building a more sustainable future for agriculture hinges on leveraging strategic partnerships like the ones being built through our N-OVATOR™ program," said Pivot Bio CEO Chris Abbott. "Transforming agriculture isn't a zero-sum game. If we can find creative ways to work together, it will benefit us all. From growers, ag input partners and complementary technology companies to commodity brands, the fuels market and even traditional fertilizer manufacturers, there is opportunity to create value across the supply chain with improved sustainable impact and economic advantages. That is the power of technology."

Nitrogen is a critical component of the global food system, with synthetic nitrogen fertilizer credited for supporting the caloric needs of nearly half of the world's population. However, the manufacturing, transportation and application of synthetic fertilizer accounts for 2.5% of the world's greenhouse gas emissions and is a significant source of water use and nitrate leaching. Pivot Bio products are used across several million acres in the United States, typically providing up to 25% of a plant's nitrogen needs while improving growers' profitability, sustainability and productivity as they work to feed a growing population.

To learn more, read the company's latest Impact Report.

About Pivot Bio
Pivot Bio is a leading sustainable agriculture company delivering to farmers patented crop nutrition technologies that harness the power of nature to reliably and productively grow the food the world needs in the face of increasing volatility. Currently available in North America and soon in Brazil, the company's products are a breakthrough innovation. They are among the industry's most promising climate solutions. The company's nitrogen is weatherproof, safer to handle, and does not leach or contribute to nitrous oxide emissions. Pivot Bio has been recognized twice by Time magazine on its annual list of best inventions, by Fast Company on its World Changing Ideas and World's 50 Most Innovative Companies lists, by CNBC in its Disruptor 50 list of private companies, and by Fortune on its Impact 20 list of startups driving social good. For more information, visit PivotBio.com.

SOURCE Pivot Bio, Inc