Business · Companies · 2 hrs ago

CarbonFarm raises €7 million to expand rice emissions monitoring

CarbonFarm raises €7 million to expand rice emissions monitoring

CarbonFarm raised €7 million in a Series A funding round to expand its work on reducing emissions from rice farming.

The company works with rice producers and other local partners to measure and reduce greenhouse gases and improve water management.

Rice cultivation produces about 12% of human-caused methane emissions and uses up to 28% of the world's freshwater.

Better water management can cut emissions by up to 50% and water use by 30% without reducing yields, but changes are difficult to coordinate across many small farms.

CarbonFarm uses satellite imagery, field data and greenhouse gas modelling to track farming practices and support emissions reporting and carbon credit certification.

The funding will help CarbonFarm expand across Asia, Africa and Europe and enter Latin America.

It will also support further technology development and help partners carry out and finance rice decarbonisation projects at a larger scale.

What people are saying

Vassily CarantinoCo-founder and CEO of CarbonFarm
Scale will not come from replacing local value-chain players; it will come from equipping them. They understand the farming systems and have the relationships needed to make change happen. Our role is to help turn this local knowledge into programmes that can attract finance and stand up to scrutiny.
via Tech.eu
James HastwellCo-founder and CTO of CarbonFarm
Projects that can show clearly how their results were scientifically measured build greater confidence and can attract buyers willing to pay a premium for high-quality credits.
via Tech.eu

Sources

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