September 15, 2023 | Carbon Credits |
Indigo Ag, a leader in sustainable agriculture, has secured over $250 million in funding to expand its sustainable agriculture initiatives and bolster farmers' revenues through carbon credit generation. The investment was led by Flagship Pioneering, an existing investor, and saw participation from new investors, including Lingotto, an investment management company owned by Exor, one of Europe's largest diversified holding firms. This funding is expected to almost double the company's revenue.
Indigo Ag's unique carbon farming program offers companies high-quality agricultural carbon credits across 14 countries, providing a market-based approach to carbon capture and storage in soils. The program combines soil sampling and modeling to enable farmers to generate carbon credits that meet industry quality standards, which are then verified and issued by the Climate Action Reserve.
By implementing climate-friendly practices, such as regenerative farming, farmers can participate in this program and generate carbon credits. These practices include activities like planting cover crops and reducing soil tillage. With this new capital injection, Indigo aims to achieve up to $100 million in revenue by 2024, providing a boost to farmers' incomes and supporting their sustainability efforts.
Indigo Ag has been successful in expanding its digital sustainability program and delivering sustainable products to partners in various sectors, helping reduce carbon emissions across the agriculture value chain. With its innovative approach, the company is actively contributing to decarbonizing the agricultural industry and addressing climate change.
