Key Takeaways:
- Carbon Emission Reduction: The N-OVATOR program has prevented over 315,000 metric tons of CO2e over two years, equivalent to the emissions from 75,000 cars annually.
- Decrease in Synthetic Nitrogen Usage: Through the program, 20% of Pivot Bio’s customers replaced over 16,500 tons of synthetic nitrogen, covering more than 800,000 acres.
- Financial Incentives for Growers: Participants received payments which covered nearly 30% of their expenditures on Pivot Bio’s products.
- Award Recognition: The program earned the “Top Project of the Year” award from Energy + Environment Leader for 2024.
- Expansion of Microbial Products: Pivot Bio’s PROVEN® 40 has been increasingly adopted, demonstrating significant environmental and agricultural benefits.
Introduction to the N-OVATOR Program
Pivot Bio, renowned for its sustainable agricultural solutions, today reported substantial environmental savings achieved through its N-OVATOR program, initiated to enhance nitrogen management practices among growers. Over the first two years, the program has effectively reduced around 315,000 metric tons of carbon dioxide equivalent (CO2e)—this reduction mirrors the annual energy use of a city the size of Berkeley, CA, home to over 115,000 residents.
Program Achievements and Environmental Impact
During the 2023 cycle, approximately 20% of Pivot Bio’s clients engaged with the program, opting to replace traditional synthetic nitrogen fertilizers with the microbial-based PROVEN® 40 across 800,000 acres. This transition has significantly cut down on greenhouse gas emissions, water usage, and nitrate pollution:
- CO2e Reduction: Over 237,000 MT avoided from manufacturing and nitrous oxide release.
- Water Conservation: Savings exceeding 91 million gallons.
- Nitrate Pollution Prevention: An estimated 14,000 tons of nitrates were stopped from contaminating aquifers and watersheds.
Chris Abbott, CEO of Pivot Bio, emphasized the tangible impacts of these practices:
“The outcomes we’re seeing from the N-OVATOR program are not just theoretical but are measurable and significant. Our growers are not only improving their crop performance but are also making notable contributions to environmental protection.”
Economic Outcomes for Participants
The N-OVATOR program has also provided financial benefits to growers, with payments totaling over $6 million to date, which equates to almost 30% of the cost of Pivot Bio’s microbial products used by the growers.
Awards and Recognition
The program’s effectiveness in promoting sustainable agricultural practices was recognized when it received the “Top Project of the Year” award for 2024 by Energy + Environment Leader. Additionally, the success of PROVEN® 40 contributed to Pivot Bio being named among the World’s 50 Most Innovative Companies by Fast Company.
Randy Minton, Pivot Bio’s head of commercial sustainability, commented on the accolade:
“It’s an enormous honor for the N-OVATOR program to be acknowledged as a transformative project. This recognition validates our efforts and the positive impact we’re facilitating across the agricultural sector.”
Future Prospects and Industry Impact
The N-OVATOR program is pioneering in its focus on reducing nitrous oxide emissions, a potent greenhouse gas. By connecting growers with companies aiming to lessen their environmental footprint, the program not only furthers sustainable practices but also supports improved supply chain sustainability efforts across various industries, including food and beverage sectors.
Pivot Bio Latest News
Leadership Engages in World Agri-Tech Innovation Summit (2024/03/19)
Pivot Bio is attending the World Agri-Tech Innovation Summit in San Francisco to explore collaborative opportunities in the agricultural sector. The CEO emphasized the importance of cross-sector collaborations and the potential of ag tech in boosting farm productivity and managing operational risks. The shift towards sustainable agriculture practices is increasingly recognized as vital for future food security and environmental sustainability. Despite financial constraints, the CEO is optimistic about the future of ag tech investments, driven by the sector’s potential to contribute significantly to climate action.
University of Kentucky Study Highlights Benefits of Microbial Nitrogen in Corn Production (2024/03/08)
The University of Kentucky Martin-Gatton College of Agriculture, Food, and Environment has conducted a study indicating that substituting synthetic nitrogen with Pivot Bio PROVEN® 40 can significantly boost corn yields. The study showcased an impressive yield increase, with corn plots treated with PROVEN 40 yielding on average 11 bushels more per acre compared to control plots. The findings underscore the potential of microbial nitrogen fertilizer to maintain and even increase crop yields while reducing dependency on synthetic fertilizers.
Boosting Agriculture with Sustainable Nitrogen Practices (2024/02/21)
Pivot Bio’s N-OVATOR™ program has compensated growers with over $6 million since its inception in 2022. The program promotes sustainable nitrogen use, reduces greenhouse gas emissions, and has attracted diverse partnerships. By replacing synthetic fertilizer with Pivot Bio’s microbial nitrogen, farmers benefit from a new revenue stream that rewards sustainable farming. Pivot Bio plans to expand the program, enroll more growers and partners, and further reduce the agricultural sector’s environmental footprint.
New Customer Success Center at ISU Research Park (2024/01/05)
Pivot Bio recently inaugurated a $14 million Customer Success Center at Iowa State University Research Park, establishing a 36,000-square-foot facility dedicated to advancing sustainable agriculture and reducing reliance on synthetic fertilizers. This collaboration highlights the company’s commitment to innovation, exemplified by their microbial nitrogen product, PROVEN® 40, which aims to fulfill up to 25% of corn seeds’ nitrogen needs, demonstrating benefits in increasing biomass and minimizing environmental impact. The center serves as a commercial and educational hub, fostering industry partnerships and promoting sustainable farming solutions, thereby supporting agricultural growth and sustainability efforts.
Pivot Bio Appoints James C. Collins Jr. To Board of Directors (2024/01/26)
James C. Collins Jr., with over 35 years of experience in the agriculture sector and previous leadership roles at Corteva Agriscience and DuPont, has been appointed to the Pivot Bio Board of Directors, effective January 23. Collins’ election is poised to boost Pivot Bio’s strategic growth in sustainable agriculture, leveraging his extensive background in agribusiness, product innovation, and global market expansion. His career highlights include pivotal contributions to agricultural education, leadership development, and significant achievements in integrating and scaling agricultural enterprises, underscored by his recent retirement as CEO of Corteva and his active participation in various advisory and governance roles that underscore his commitment to the agriculture industry and education.
Pivot Bio PROVEN® 40 Enhances Silage Production and Profitability, Study Reveals (2024/01/18)
A study conducted in collaboration with over 30 dairy producers revealed that replacing up to 40 pounds per acre of synthetic nitrogen with Pivot Bio PROVEN® 40 significantly increased silage tonnage without compromising quality. The adoption of PROVEN 40 led to an increase of 0.91 tonnage per acre, a 4.2% advantage over traditional methods, and a 3.4% increase in milk production per acre. The product demonstrated consistent performance across various weather conditions and soil types, while maintaining quality and profitability.
Pivot Bio Appoints New CFO (2024/01/09)
Pivot Bio has appointed Robert Houghton as its new CFO, replacing Doug Jeffries who retired last year. Houghton will oversee various financial functions, including corporate finance, treasury, financial planning and analysis, tax, accounting, investor relations, internal audit, risk management, and capital market strategy. He brings nearly 30 years of financial and accounting experience and has held executive positions at companies such as Life Time Group Holdings, United Natural Foods, C.H. Robinson, Sherwin-Williams, and General Mills. Houghton is an alumnus of the University of Minnesota’s Carlson School of Management and will be based in Pivot Bio’s office in Wayzata, Minnesota.
Showcases Its Latest Innovation (2023/06/22)
Pivot Bio presented its innovative product, PROVEN® 40, at the 2023 International Annual Meeting of ASA, CSSA, and SSSA. The microbial nitrogen source for corn crops demonstrates advancements in enhancing nitrogen fixation, maintaining yield, and reducing environmental impacts. Key insights included on-farm success, yield stability, and environmental impact reduction. Pivot Bio is dedicated to delivering science-driven, farmer-centric solutions and bridging research with real-world farming.
Appoints Balaji Venkataraman as Senior VP (2023/11/02)
Pivot Bio has appointed Balaji Venkataraman as its new Senior VP of Manufacturing and Supply Chain. Venkataraman will oversee manufacturing and supply chain activities and will report to the company’s President and COO, Lisa Safarian. Pivot Bio is a sustainable agriculture company that provides patented crop nutrition technologies to farmers. The company’s products offer a solution to the environmental impact of synthetic nitrogen and ensure consistent and productive growth of food.
Earns Spot on TIME’s Best Inventions List (2023/10/25)
Pivot Bio, Inc. has earned a spot on TIME’s Best Inventions list for the second time. This recognition is for the company’s innovative product, PROVEN® 40 OS, which equips corn farmers with the ability to plant their seeds with up to a quarter of the crop’s nitrogen needs already pre-loaded. Pivot Bio’s technology reduces greenhouse gas emissions and requires significantly less water than traditional synthetic fertilizers. The prestigious list celebrates innovators and groundbreaking developments, emphasizing sustainability and societal impact.
Announces Key Executive Appointments Amidst Rapid Growth (2023/09/27)
Pivot Bio, a sustainable agriculture company has appointed Debra Frimerman as Chief Business Development Officer, Wendy Watkins as Chief Communications Officer, and Devang Shah as General Counsel. All three will report to Pivot Bio CEO Chris Abbott. The company has achieved significant milestones, such as usage by farmers on over 5 million acres and revenue of $100 million in 2023. Pivot Bio aims to revolutionize nitrogen management in agriculture and disrupt the $190 billion nitrogen market.
Names Chris Abbott as CEO (2023/08/31)
Pivot Bio, a sustainable agriculture company, has appointed Chris Abbott as its new CEO, succeeding former CEO Karsten Temme who is now the Chief Innovation Officer. Abbott’s extensive experience in agriculture, water, sustainability, and technology makes him the ideal candidate to lead Pivot Bio into its next growth phase. The company’s patented crop nutrition technologies provide farmers with reliable and sustainable solutions for growing crops and have gained rapid adoption among U.S. farmers. Pivot Bio has ambitious plans to sustain and further accelerate growth, including establishing new facilities, partnering with universities for research, and driving innovation and progress in modern agriculture.
Pivot Bio’s Microbial Nitrogen (2023/06/22)
The company offers an alternative to synthetic nitrogen fertilizers, helping farmers improve productivity and profitability while reducing pollution and combating climate change. Their microbial nitrogen production has an emissions footprint of just 2% of synthetic fertilizer and requires 1,000 times less water, leading to minimal waste. The company’s products have also been validated by independent studies that demonstrate their positive impact on farmers’ yields and profitability. Additionally, the company is committed to sustainability and actively engages in partnerships to drive climate-smart agricultural research. Pivot Bio has already helped farmers replace over 32,000 tons of synthetic nitrogen fertilizer, contributing to the company’s revenue of over $60 million.
Expands N-OVATOR™ Program (2023/04/20)
The company has announced the expansion of its N-OVATOR™ program for on-farm synthetic fertilizer replacement in 2023. This program aims to bring together growers reducing on-farm emissions by using the company’s microbial nitrogen with corporations striving to reach net-zero emissions by reducing their Scope 3 emissions. The 2022 pilot program documented the replacement of synthetic fertilizer with Pivot Bio PROVEN® 40, a new nitrogen source, resulting in the avoidance of more than 80,000 MT of CO2e. The program’s expansion will support growers’ efforts to calculate the sustainability impact of their practice change on millions of acres.
Image provided by Pivot Bio
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