CHICAGO--(BUSINESS WIRE)--Farmers Business Network (FBN®) and ADM (NYSE: ADM) today announced that they have launched a joint venture, Gradable, creating a new company to expand the Gradable technology platform and enable more farmers and buyers to confidently pursue and derive value from grain produced using sustainable and regenerative practices.
First introduced in 2020, the Gradable platform tracks sustainable and regenerative agricultural practices and outcomes, making it easier for farmers to earn financial rewards. For grain buyers, Gradable provides reliable farm-level data, allowing them to easily identify and purchase grain that helps them meet growing customer demand for sustainably produced products.
Currently, Gradable, whose partners include ADM, POET, and Attebury Grain, LLC, is a leading grain procurement platform in North America, with over 20,000 farmer users across more than 12 million acres. It has scored more than 200 million bushels of corn and soybeans, analyzed 48 million acre-years of agronomic events, and facilitates over $30 million in financial incentives for sustainable practices each year. The new 50-50 joint venture will enable Gradable to expand and reach new partners and customers at every stage of the grain supply chain – from growers to grain buyers.
“Gradable is rapidly becoming one of the industry’s leading and largest technology platforms enabling sustainability scoring at scale. We welcome all partners from the CPG and grain buying industries and look forward to serving new markets and more farmers,” said Steele Lorenz, the newly appointed CEO of Gradable.
Expanding Value Creation for Farmers, Grain Buyers and End Customers
The demand for sustainably produced crops is increasing steadily, driven by consumer preferences, corporate commitments and initiatives, and public policy. To meet this demand, Gradable will expand across ADM's hundreds of facilities spanning the U.S. and Canada; increase the number of commercial partners and countries served; and have capabilities to help the supply chain meet global demand needs for more sustainable food, feed, fuel and industrial products.
“We're excited to partner with an agricultural leader like ADM to launch Gradable, providing thousands of farmers with powerful sustainability solutions,” said FBN CEO Diego Casanello. “By combining our expertise, Gradable will enhance insights, incentives, and support to help growers profitably adopt regenerative practices. We believe Gradable can become the industry-leading platform."
“ADM’s regenerative agriculture efforts enrolled more than 2.8 million acres last year, and we know that’s just the beginning,” said Greg Morris, president of ADM’s Ag Services and Oilseeds business. “The continued expansion of this work requires a strong technology platform that enables farmers to easily participate and provides farm-level data for grain buyers and end customers. This new joint venture paves the way for the continued growth of Gradable, opening the door for even more farmers, commercial grain partners, and end customers to benefit from regen ag practices and the growing demand for sustainably sourced products.”
About the Gradable Digital Platform
The Gradable technology platform was developed to provide a modern digital infrastructure to strengthen the relationship between grain buyers and farmers, as a new era emerges requiring efficient, transparent, and secure grain transactions for production agriculture. Gradable’s digital infrastructure does this by connecting farmer and buyer experiences into a single, secure technology platform. Gradable also lays the groundwork for increased farmer participation in new sustainability demand by allowing them to seamlessly collect and calculate verifiable production data – including carbon scores – empowering them to monetize these downstream benefits in the market.
About Steele Lorenz, Gradable CEO
Steele Lorenz has been named as Gradable's CEO. Since 2023, Lorenz served as Senior Director of Strategy and Business Operations at FBN; prior to that, he launched and led FBN’s Sustainability Business. He previously founded the irrigation provider, MyRain.
Forward-Looking Statements Regarding ADM
Some of the above statements constitute forward-looking statements. ADM’s filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, ADM assumes no obligation to update any forward-looking statements.
About FBN
Farmers Business Network, Inc. (FBN®) is a pioneering digital marketplace and farmer-to-farmer network dedicated to empowering family farmers globally while promoting sustainable agriculture. With over 87,000 members, FBN's Farmers First® promise unites growers and ranchers in their quest to maximize profitability and increase food production. FBN leverages data, AI and direct-to-farm delivery to simplify the agricultural supply chain, boosting convenience and transparency, reducing farm input costs, enhancing access to capital and services, and providing personalized insights. Combining Midwestern agricultural expertise with Silicon Valley innovation, FBN operates from principal offices in San Mateo, California, and Chicago, Illinois. For more information, visit www.fbn.com.
About ADM
ADM unlocks the power of nature to enrich the quality of life. We’re an essential global agricultural supply chain manager and processor, providing food security by connecting local needs with global capabilities. We’re a premier human and animal nutrition provider, offering one of the industry’s broadest portfolios of ingredients and solutions from nature. We’re a trailblazer in health and well-being, with an industry-leading range of products for consumers looking for new ways to live healthier lives. We’re a cutting-edge innovator, guiding the way to a future of new consumer and industrial solutions. And we're a leader in sustainability, scaling across entire value chains to help decarbonize the multiple industries we serve. Around the globe, our innovation and expertise are meeting critical needs while nourishing quality of life and supporting a healthier planet. Learn more at www.adm.com.
Source: Corporate Release
Source: ADM
