Press Release: Danish Agro and Agreena enter partnership on carbon certificates

PRESS RELEASE

4 May 2022

Danish Agro and Agreena enter partnership on carbon certificates

The agricultural group Danish Agro and Agreena, which facilitates carbon certificate trading, have just entered a partnership. The two companies will jointly spread awareness of climate-friendly cultivation practices and the associated opportunity of issuing carbon certificates to farmers.

Danish Agro is dedicated to supporting farmers in the green transition. For example, through regenerative agricultural practices, farmers can sequester carbon and store it in the soil. Such a transition requires investments on the farm. This is precisely why Group CEO of Danish Agro, Henning Haahr, sees exciting opportunities with this agreement.

“Many customers have encouraged us to have a closer look at carbon certificates, and in our view, they represent a real opportunity for individual farmers to finance the green transition”, says Henning Haahr and continues:

“Agreena has developed a professional platform for data collection, verification, and issuance of carbon certificates. They have been a responsible player in the process of developing and strengthening soil carbon certificate trading. We see great potential value for the farmers and would like to develop the opportunities together with Agreena. One of Agreena’s great strengths is that the farmer remains in full control of what he wants to do with his certificates. He can sell them, keep them, or ask Agreena to sell them for him. It is up to the individual farmer to decide, and it is with him the value of the climate effort lands, which has been important to us”, he says.

Initially, the focus is on farmers in Denmark and Baltic countries, but the plan is to spread the partnership to Danish Agro group’s entire business area.

Ida Boesen, co-founder and director at Agreena, is looking forward to the collaboration.

“This marks the beginning of a long-term partnership and is a major step for Danish agriculture, which has the potential to be at the forefront of the sustainable transition. It represents Denmark’s private sector working in collaboration to take the lead and bring innovative climate solutions in the market”, she says and continues:

“Through our partnership, Danish Agro and Agreena are enabling a transition that will bring extra value to farmers. This can create long-term climate impacts as well as future increased profitability due to lower fuel and labour costs, improved soil quality, higher water retention capacity and nutrient content, and increased biodiversity”, she concludes.

Any contracts for the carbon certificate programme will be concluded with Agreena, which is accredited to the international standard ISO 14064. The company’s certification programme and carbon certificates are third-party verified by Det Norske Veritas (DNV).

For further information, please contact:

Søren Møgelvang Nielsen
Group Director, Communication & Marketing, Danish Agro Tel. +45 2332 8274

Erica Johnson
Sustainability Affairs Officer, Agreena Tel. + 45 3152 4980

 

About the Danish Agro group

The Danish Agro group comprises several agro-industrial companies in Denmark and abroad. They all have one overriding objective: to contribute to value-creating solutions for individual farms in close collaboration with customers. The Group mainly sells feed mixtures, raw material and vitamin mixtures, fertiliser, plant protection products, seed grain and energy, and also buys crops from the agricultural sector. In addition, the Group represents several strong machinery brands for agriculture and operates an extensive chain of hobby and leisure retail stores. The Danish Agro group currently employs approximately 5,000 people, and in 2022 its turnover will be around EUR 5.6 billion.

 

About Agreena

Agreena was founded by visionary agriculture and FinTech specialists and started as a digital trading platform intended to make grains trading more democratic and efficient. Today, Agreena is one of the first platforms across Europe to facilitate issuing of and trading in carbon certificates for farmers. Agreena puts the farmers first and helps them to a successful transition of their agricultural practices. More than 150 farmers from ten countries have already transitioned to more climate-friendly agricultural practices through Agreena’s carbon programme. The programme follows the crop year and thus allows the farmers to reap the value of their climate efforts on an annual basis. The programme is also ISO 14064-2 certified and applies internationally recognised protocols and calculation methods.

Download Press release as PDF


Webinar: Find out how to increase soil carbon

Soil carbon farming: What's in it for me?

Register now and join us for this this webinar hosted by Farmers Weekly, in association with Agreena, on Thursday 19th May to find out everything you need to know about soil carbon farming.

 

Soil carbon farming: What's in it for me?

Thursday 19th May
5pm - 6:15pm

Register now

 

The importance of agricultural soil as a store for tonnes of carbon each year is growing in emphasis, but what is soil carbon? And what are the opportunities and risks surrounding monetisation of carbon credits?

Join us on the 12th of May as we provide answers to these questions. We will be exploring soil carbon farming further, not only as a possible future revenue stream, but also in terms of how regenerative farming practices can help store carbon to improve soil health and overall productivity.

 

Our panel of experts will be debating the the dos and don’ts of soil carbon farming and discussing:

  • What is soil carbon farming?
  • Why is it important for farmers?
  • How can you increase soil carbon?
  • What are the opportunities and risks surrounding monetisation of carbon credits?
  • How much control do farmers have over carbon certificates?

 

Register now

 

 


Carbon-credit trading is set to hit $50 billion by 2030. Here are 11 of the hottest startups working to scale the voluntary carbon market.

Carbon-credit trading is set to hit $50 billion by 2030. Here are 11 of the hottest startups working to scale the voluntary carbon market.

 

The carbon market is split in two. The compliance side is driven by legislative obligations placed on businesses to reduce their carbon footprint. The voluntary side grew out of demands from consumers that the companies they buy from operate in the most carbon-neutral way possible.

 

Read the article at Businessinsider.com


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Women scaling impact for the climate with Agritech platform

Women scaling impact for the climate with Agritech platform

On International Women’s Day we focus on Agreena, an agtech platform created by female entrepreneurs Julie Koch Fahler and Ida Boesen. They offer farmers and traders a neutral platform to buy and sell grains, and help farmers getting started with carbon credits.

Female entrepreneurs Julie Koch Fahler and Ida Boesen stepped into their position as market disruptors with an innovative commodity trading platform for farmers in 2018. They combined their experience within the technology (Julie) and agriculture (Ida) industries to build a solution that would support Danish farmers in maximising their thin margins.

In 2021 the startup evolved into Agreena, adding a soil carbon certification platform to the techstack, AgreenaCarbon, and became one of Europe’s first internationally accredited certification programmes in soil carbon sequestration.

Carbon certificates

Through its programme, Agreena mints, verifies, and sells third-party verified carbon certificates to the voluntary carbon market for farmers that have transitioned to regenerative agriculture practises with the platform.

Today, the company is operating in 10 countries across the pan-European market and has supported more than 160 farmers to join the green economy in their transition to sustainable agriculture. Agreena closed its € 20-Million Series A round last month and was recently recognised by Financial Times’ Sifted as one of the “Startups to Watch” in the Agritech sector.

Enhance profitability and sustainability for farmers

“Innovation doesn’t often come from within an ingrained industry. We have insights both within and outside of the farming industry, and this sets us apart to create new paradigms. We will continue developing products where there are opportunities to enhance profitability and sustainability for farmers – because this is the future of farming,” Ida Boesen said.

“We started the company to digitalise and democratise one of the biggest industries in the world. Agriculture is such an integral part of, and costly affair, for our society – and it has so much optimisation potential. Right now, we can see impact when driving around and seeing fields with cover crops, but in the future, the soil reaping biodiversity benefits, the climate responding to massive carbon sequestration, and farmers acting independently with fair, market-driven financing – these are the long term impacts of Agreena initiatives that I am really looking forward to seeing,“ Julie Koch Fahler said.

 

Read the full article at Futurefarming.com


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Newsweek: Mobilizing farmers to decarbonize agriculture

Newsweek: Mobilizing farmers to decarbonize agriculture

Denmark is cultivating innovative agtech solutions that are speeding up the adoption of regenerative practices in farming.

Agriculture is responsible for around one-fifth of Denmark’s total carbondioxide (CO2) emissions and its decarbonization is a priority for a country seeking to become carbon neutral by 2050.

In October, the Danish parliament ratified plans to reduce the sector’s greenhouse-gas (GHG) emissions by 55 percent within 10 years, pledging funding of nearly $600 million for green farming technologies to help achieve this. One new solution that is rapidly being adopted by farmers in Denmark and Europe comes from the startup Agreena.

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“Farmer’s fintechs” are turning Europe’s farms into carbon sinks

“Farmer’s fintechs” are turning Europe’s farms into carbon sinks

Agreena has raised $22.5m for its platform assigning carbon credits to farmers

 

Soils are a massive carbon sink, second only to the ocean in their carbon absorption power. And given that nearly 40% of the EU is farmed land, there’s a huge opportunity to sequester large amounts of carbon from the atmosphere.

The problem? There hasn’t been much of a financial incentive for farmers to increase the carbon sink potential of their land — and farming is already a low profit margin industry, so that really matters.

But where there’s a will, there’s a startup.

Copenhagen-based Agreena has just raised a $22.5m Series A for a platform where farmers can earn carbon credits for turning their land into carbon sinks.

Those credits can be sold on voluntary carbon markets (where companies rather than countries buy credits to offset their emissions). The credits give farmers on average a 20% boost on the profitability per hectare of land.

The round was led by Kinnevik alongside Giant Ventures, Vækstfonden (the Danish state’s investment vehicle) and agriculture angel investors. Agreena’s grown fast; it launched in 2020 and raised a seed round last October.

It’s part of a wave of startups who’ve cottoned onto the sustainability — and financial — potential of carbon credits in farming. The price of these credits is skyrocketing; it increased threefold in six months last year, to $14 each.

Agreena faces competition from Soil Capital, a French-British startup, and eAgronom, an Estonian company which just closed a $7.4m Series A. The biggest name globally is Indigo, an American startup.

Turning farms into sinks
Simon Haldrup, founder of Agreena, says the company helps farmers overcome two barriers.

“One is the knowledge barrier, because this is new to a lot of farmers. And second, we help to commercialise their adoption of regenerative practices by giving them access to the voluntary carbon markets.”

Farmers can increase the carbon potential of their land by tilling it less. This is when farmers plough the soil between crops. Tilling can reduce the land’s water and nitrate absorption qualities, meaning the soil’s quality depreciates, and, critically for emissions sequestration, it also releases carbon into the air.

It’s also about the type of fertiliser they use and the “cover crops” they plant between food crops. Cover crops are plants which feed the bacteria and fungi in the soil, increasing the soil’s carbon levels.

Farmers input data on their land into Agreena’s platform, creating a baseline understanding of the land’s quality. The farmer then plans for the next harvest, committing to certain actions that increase the land’s carbon sink potential.

At the end of the harvest, satellite imagery and a third party verifier are used for Agreena to assign a certain amount of credits to the farmer for the changes they’ve made to their land.

“Farmers will earn approximately two credits, some more, some less, per hectare,” says Haldrup.

The financials
Once assigned those credits, the farmer can sell them on the voluntary market — usually to corporate companies looking to offset their emissions.

Haldrup estimates that a credit could be sold at about €15, meaning an extra €30 per hectare on average. Given that the average profit margin per hectare is about €150, according to Haldrup, that is a significant contribution. The extra profit can also offset the costs of transitioning to more regenerative agriculture.

Agreena monetises itself by retaining a 15% cut of the certificates it issues and selling that on the market.

Regulating the market
Agreena uses a third party verifier to check its credits. That’s not something that’s a given — the quality of carbon credits is a controversial topic at the moment.

The voluntary market has lacked regulation and people have been free to issue credits for uncertified projects which, in practice, don’t do much to help the environment (Finnish not-for-profit Compensate is good on this — they assess the credentials of projects).

Now some countries are starting to issue guidance on what can constitute a carbon credit on the voluntary market.

Haldrup welcomes regulation — it’s something that will bring more integrity to the market; could drive the price farmers can get for quality credits up; and will increase the importance put on developing proper carbon sequestration practices.

“There’s millions of hectares of arable land and it’s about putting a currency on that land’s potential,” says Haldrup. “And I think the significance of that move is still a bit of a secret to the public.”

Read the article at Sifted.eu


NEWS RELEASE: Agreena secures €20M to cultivate carbon farming market

AGREENA SECURES €20M TO CULTIVATE  INTERNATIONAL CARBON FARMING MARKET

Danish AgTech startup Agreena has raised a €20M Series A round to enhance its regenerative farming carbon certificates with a new classification system and novel carbon farming marketplace

 

(February 15, 2022) – Bulking up its employee headcount by a factor of four since its seed funding, Copenhagen-based Agreena has expanded its leadership team and new operations out of key European ag hubs, including the United Kingdom. Led by European growth-stage investor Kinnevik, the €20-million Series A round included continued participation from existing investors Giant Ventures, Vaekstfonden - the Danish states’ investment fund, and farmer angel investors. Scaling its solution to support farmers in eight countries across the pan-European landscape in its first year, the company is gearing up for larger expansion. With its latest funding the startup on a hiring spree says it will enhance its protocol and vertically integrated tech-stack with blockchain for greater market transparency and traceability, while enabling new financing solutions for farmers in the future.

“The genesis of our company is deeply rooted to farmers, and with a strong fintech backbone, our mission, aligned with our investors, is to break down barriers for farmers so they can maximize their thin margins while simultaneously making the world a better place,” said Simon Haldrup, co-founder and CEO of Agreena. “With both our climate and our soils in a state of emergency, farmers who have historically been singled out to blame now have the opportunity to become the heroes of future generations – and get paid.”

Last year Agreena became one of the first European companies internationally accredited to quantify, measure, report and verify greenhouse gas (GHG) reductions and removal enhancements focused specifically on soil and sustainable farming techniques. AgreenaCarbon farmers work with the company and expert agronomists to develop detailed plans for regenerative agriculture practices to be adopted each annual harvest cycle that reduce GHG emissions and sequester carbon in the soil.

“The necessary transition to more sustainable farming is an impactful and sizable climate opportunity. We have been impressed by the Agreena founding team and their nimble and thoughtful approach to supporting farmers in transitioning to regenerative practices, enabling carbon capture and restoring biodiversity,” said Magnus Jakobson, investment director at Kinnevik. “As a long-term investor, we take a multi-generational approach and truly believe that to be a successful company you need to be part of the solution.”

Winning innovation awards for its scalable impact approach, Agreena combines field-level practices with advanced technologies to capture the climate impact farmers make by coupling five years of ground-truth data with an IPCC-aligned GHG farm model developed by top-tier universities that is overlaid with soil and climatic data inputs. Using low-orbit satellite data combined with NDVI algorithms to track green biomass and to continuously monitor fields, Agreena runs an advanced big data analytics protocol to identify cases of deviation that triggers follow-up actions with farmers and performs annual physical site visits.

Doubling down on the validity of the sustainable farming practices implemented, additional field inspections are conducted by an independent third-party verification body prior to Agreena issuing CO2-e certificates, which can then be used to offset unavoidable emissions in the voluntary carbon market.

Receiving attention from international investors, corporates, and global leaders alike, the voluntary carbon market is stepping in as a prominent player to address what many consider to be the greatest challenge of our time. Reaching the objectives of the Paris Agreement and the IPCC’s recommendation to limit global warming to 1.5-degree in relation to pre-industrial levels for climate neutrality by 2050 requires not only massive emission reductions but also negative emissions, or carbon dioxide removals.

With 34% of the world’s largest publicly traded companies already having committed to net-zero targets, demand for quality carbon removal credits will continue to rise in the years ahead to achieve ambitious corporate climate goals. Nature-based solutions, such as soil sequestration, are the most cost-effective mitigation measure. Haldrup says that this year Agreena is enhancing its protocol and building out a classification system, creating a distinction between its reduction and removal certificates for the voluntary carbon market.

“But regenerative farming is not all about turning soil into carbon sinks,” adds Haldrup. “From day one, our program was developed with agronomists that are experts in conservation agriculture. Our entire suite of practices provide a plethora of benefits beyond soil health and management – boosted nutrients and biodiversity, improved water infiltration, enhanced ecosystems, and healthier crop yields.”

Agreena wants to capture this, too. Improving soil quality is integral to achieving the Sustainable Development Goals (SDGs), in particular, the Goals on zero hunger, climate action, and life on land. Haldrup says the company is currently evaluating SDG impact quantification and reporting tools which can be attributed to individual certificates in the future to capture the full impact created by AgreenaCarbon farmers, and add value to the voluntary carbon market.

“Kinnevik has placed sustainability as an integrated part of their business model with a strategy aligned to the UN 2030 Agenda and the Sustainable Development Goals,” says Haldrup, adding that this makes them, and all of Agreena’s impact investors particularly exciting partners to be working with at this stage of the company.


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The FutureFarm Podcast – Episode 2: Regenerative farming and carbon sequestration

The FutureFarm Podcast – Episode 2: Regenerative farming and carbon sequestration

 

In this episode of FutureFarm Podcasts, FutureFarm discuss the benefits of regenerative farming with regard to carbon sequestration. Chris Hollingsworth provides a personal insight into the business benefit, having made the switch to regenerative farming 5 years ago.

Simon Haldrup, CEO of Danish environmental and sustainability company Agreena tells us how sequestered carbon is measured and turned into valuable certificates. Policy expert Ali Capper explains some of the remaining barriers and what needs to be done to get over them.

 

👉 Listen to or read "The FutureFarm Podcast – Episode 2: Regenerative farming and carbon sequestration" here.


Carbon farming could provide environmental and income boost

Carbon farming could provide environmental and income boost

 

An EU initiative aiming to increase carbon sequestration may boost the income of farmers, along with providing an environmental benefit.

The European Commission is expected to publish a policy document on its carbon farming initiative on Wednesday (December 15).

The EU Commission is proposing to reach climate neutrality in the entire land sector by 2035, which would mean that carbon removal should balance greenhouse gas (GHG) emissions from all land, livestock and fertiliser use.

Along with the environmental and climate change benefits, the EU believes that the initiative would also be a new source of income for farmers.

Frans Timmermans, vice president of the European Commission, recently told a conference organised by the Intereg North Sea Region Programme that “with carbon farming, climate action becomes a business opportunity”.

He said expanding the model across the EU will need public and private funding.

Simon Haldrup, from agricultural technology company, Agreena, said “it is encouraging to see movement coming from international leaders”.

 

👉 Read the full article on agriland.ie.