TERRAMERA AWARDED $7.9 MILLION TO ADVANCE ON-FARM SOIL CARBON QUANTIFICATION TECHNOLOGY
VANCOUVER, BC - May 27, 2021 – Sustainable Development Technology Canada (SDTC) has awarded $7.9 million in funding to Terramera– the global agtech leader fusing science, nature and artificial intelligence to transform how food is grown– to support the commercialization of their soil carbon quantification technology. Together with the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, SDTC announced a total of $44.3 million in funding to 11 Canadian cleantech companies today, to help Canadian entrepreneurs accelerate the development and deployment of globally competitive clean technology solutions.
Terramera’s Advanced Methods for Quantifying Carbon Content in Agricultural Soils project will produce scalable, accurate, low-cost remote-sensing technology, enabled by the company’s industry-leading Artificial Intelligence (AI) and Machine Learning (ML) platform to reliably measure the carbon content in soil. This will provide a standard for consistent soil carbon quantification across Canada, opening a new and stable market for nature-based soil carbon credits and allowing farmers to be incentivized for the carbon they sequester. Full deployment of the technology across Canada has the potential to significantly reduce greenhouse gas from the atmosphere by 2030.
“By supporting and empowering farmers and ranchers across the country, Canada has the opportunity to lead the world in carbon sequestration and turn back the clock on climate change,” said Karn Manhas, Terramera Founder and CEO. “This funding will enable Terramera to build a reliable standard for soil carbon sequestration and drive down the cost of quantification towards $5 per acre - unlocking rapid market growth, improving farmer revenue, and scaling carbon sequestration like never before. Terramera has a bold vision backed by our technical and business capabilities, and now the Government of Canada through SDTC.”
Sequestering carbon in the soil can offer a sustainable way to reduce atmospheric carbon, but current methods for measuring the amount sequestered are too expensive, inefficient, or unreliable. Terramera’s technology changes the paradigm, inexpensively quantifying soil carbon at scale, making a market for soil carbon credits commercially-viable, building both supply and demand and greater adoption of carbon sequestration practices by farmers. This is another showcase of the Terramera's world-class technological capabilities and will establish Canada as a leader in soil carbon globally.
“Granting farmers access to affordable, accurate and verifiable soil carbon data eliminates a critical barrier to carbon offset markets in Canada. This will in turn incentivize more producers to adapt greenhouse gas offset protocols to drive down emissions even further in our sector. As such, this technology is critical to the continued sustainable development of Canadian food productions,” said Errol Halkai, Executive Director of the Canadian Federation of Agriculture.
“It is encouraging to see Terramera lead the path towards a Net Zero economy by empowering farmers with inexpensive tools to reduce GHG emissions. We are incredibly proud to support Canadian climate tech firms, like Terramera who are unlocking the economic and environmental potential of clean and sustainable technologies,” said Leah Lawrence, President and CEO of Sustainable Development Technology Canada.
“Canadian clean tech innovation will be the driving force behind a green economic recovery. It will not only create well-paying jobs but also help build a sustainable future for all Canadians. With this investment in clean technologies, we are strengthening support for the Canadian innovators forging the global path to a net-zero reality by 2050,” said the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry.
Terramera is a global agtech leader fusing science, nature and artificial intelligence to transform how food is grown and the economics of agriculture in the next decade. With its revolutionary Actigate™ technology platform, which was recognized by Fast Company as a 2020 World Changing Idea, Terramera is committed to reducing the global synthetic pesticide load 80% by 2030 to protect plant and human health and ensure an earth that thrives and provides for everyone. The privately held, venture-backed company was founded in 2010 and has grown to include a world-class bench of engineers, scientists, advisors and investors. Terramera is headquartered in Vancouver, British Columbia, with integrated operations in Canada, the US and India that include research labs and greenhouse, and more than 250 patents in its global IP portfolio. For more information on our work in soil carbon quantification, visit Regenerativeag.terramera.com
About Sustainable Development Technology Canada
Sustainable Development Technology Canada (SDTC) helps Canadian companies develop and deploy competitive, clean technology solutions, to help solve some of the world’s most pressing environmental challenges: climate change, clean air, clean water and clean soil. By taking a cross-Canada approach, from seed to scale, and in partnership with the best peers and experts, SDTC is the global benchmark for sustainable development innovation programming.
Communications Manager – Terramera