4 December 2024, Albury, Australia: AgriProve, Australia's leading soil carbon project developer and solutions provider, has acquired the Geora technology platform in a strategic move to enhance its market offering to all Australian farmers. This acquisition helps drive a farmer-led transformation of the value chain to regenerate land, improve production value, increase profitability and provide the traceability and reporting required to meet supply chain demands.
Combining AgriProve’s ground-truthed soil carbon expertise, and Geora’s deep-tech nature and climate intelligence engine, the new AgriProve platform will provide customised, predictive insights to help Australian farmers future-proof their land management. The Geora platform has been in production since 2020, providing farmers, agribusinesses and financiers with technical tools to run risk and impact assessments across agri-supply chains. Adding emissions estimates and soil carbon predictions based on AgriProve’s extensive physical and digitised soil sample library, the new platform is set to be Australia’s leading farm insights engine for natural capital management.
“This is a win for all Australian farmers,” said Matthew Warnken, Managing Director of AgriProve. “We believe farmers can lead the way in solving our food production and climate challenges without being penalised. Current tools and models are ill-equipped to solve this at a value chain level and are often at the expense of farm gate revenue.” By integrating Geora’s expert system AI with AgriProve’s extensive data set and proven process expertise, AgriProve provides farmers with real-time insights, emissions integrity and credentialling, innovative funding models, and a pathway to carbon sequestration. Farmers can focus on improving soil health and farm productivity while being assured of transparency in their carbon tracking. “It’s not just about knowing your ‘number’, it’s about how farmers can improve it to generate value”, said Stuart Upton, General Manager of AgriProve “This technology takes the guesswork out of managing natural capital and ultimately helps farmers build better soil, better land and better profits.”
Addressing a $3.7 billion market opportunity
The soil carbon market is expected to return $3.7 billion in revenue to Australian farmers by the year 2040. With only 1% of Australian farmers currently participating in active soil carbon projects, AgriProve’s acquisition of Geora lowers the barriers to access carbon sequestration and broadens the range of incentives to build on-farm resilience. For farmers interested in taking advantage of these new markets, the technology helps assess the size of opportunity and potential return from practice changes and bringing differentiated produce or credits to market.
Geora’s CEO, Bridie Ohlsson, shared, “We built Geora to bring trust, transparency, and forward-thinking solutions to shift the way that individual farms are rewarded within agricultural systems. Technology is really powerful when it helps farmers to model potential futures and better act on risks. By joining forces with AgriProve, we’re excited to continue building incentive models that help farmers make data-driven decisions around soil health, boost impact integrity, and stop the erosion of farm profit margins.”
AgriProve’s goal with this acquisition is to streamline access to soil carbon projects for farmers, and help farmers take the guesswork out of practice changes. Representing 75% of all registered soil carbon projects on the Australian Carbon Credit Unit (ACCU) Scheme, and with the highest number of credited projects, AgriProve’s customers are currently sequestering over 185,000 tonnes of CO2e through soil carbon projects, projected to generate over 25,000,000 ACCUs by 2040. Ultimately the incorporation of the Geora technology aims to scale the impact of the AgriProve vision: build better farms, better soil and better profits.Tenacious Ventures, an early investor in Geora, sees the move as a big win for farmers.
“Farmers need access to a diversity of ways to be recognised and rewarded for their nature-positive practices.” Said Matthew Pryor, Managing Partner at Tenacious Ventures “With the addition of the Geora Platform to AgriProve, Farmers now have more ways to see significant financial and production benefits when they are investing in climate-improving on-farm practices”.
The new AgriProve platform launching this December
The AgriProve platform launches this week on World Soil Day, 5 December 2024. With the Geora team now integrated into AgriProve, the combined expertise and technology will enable the platform to deliver even more innovative tools for farmers. These include simplified emissions calculations, predictive climate modeling, and assessments for soil carbon project eligibility. Australian farmers will be able to access the platform for free and receive AI generated insights on soil and land management, and financing opportunities to continue building long-term farm resilience.
Media contact: Daniel Wortmann, [email protected], +61 448 187 650
About AgriProve
Headquartered in Albury, AgriProve is Australia’s leading carbon soiltech developer with over 75% per cent of all soil carbon projects successfully registered in the ACCU Scheme and is the fastest growing developer in Australia, already supporting over 800 projects totalling more than 150,000 hectares as of December 2024.