SIOUX FALLS, S.D. & SAN CARLOS, Calif.--(BUSINESS WIRE
), a global Ag Tech company and farmer-to-farmer network, today announced that FBN’s grain origination and carbon-scoring sustainability tech platform, study,
today’s bioethanol reduces carbon emissions by 46 percent compared to gasoline.
“At POET, we have always believed that farmers are the original innovators and stewards of the land,” said Bob Whiteman, CFO of POET Biofuels. “Today, they want to be part of the climate solution, and we want to partner with farmers who share our vision to create a more sustainable world. Gradable is a significant step in combining agriculture, environmental sustainability, and technology to ultimately create even greener bioproducts that will drive a low-carbon future.”
“Gradable is the technology platform that can pave the way for low-carbon food and fuel supply chains because global markets have been waiting for a carbon accounting system that can cost effectively collect, verify, score and track farm level carbon data,” said Amol Deshpande, CEO and co-founder of Farmers Business Network. “The Gradable technology makes it possible to create premium markets for verifiably low carbon grain while ensuring that the farmers who grow low carbon crops are rewarded for their sustainable practices.”
FBN’s Gradable technology platform provides a modern digital infrastructure for efficient, transparent, and secure grain transactions for both farmers and grain buyers. It allows farmers to easily collect and securely submit verifiable production data, including Nitrogen fertilizer use data, which accounts for the largest share of emissions associated with grain production globally. Gradable automatically calculates individual environmental scores and supplies the environmental scores securely to premium buyers. Grain buyers only receive the environmental score associated with a farmer's delivered grain. Individual farm data is kept private and not shared with grain buyers.
POET customers who are not already using FBN now benefit from the full FBN suite of tools and services, including crop input price transparency, agronomic analytics, and on-farm R&D.
“From day one at FBN our first priority has been the profit potential of the family farm,” said Devin Lammers, President of FBN Financial and Gradable. “Gradable is another step toward providing farmers with better market visibility, access and convenience. POET is one of the largest corn buyers in the world and farms will continue to benefit from their innovation and premiums for sustainably grown grain.”About POET
POET, headquartered in Sioux Falls, SD, is the world's largest biofuels producer. POET is a leader in biorefining through its efficient, vertically integrated approach to production. Started in 1987, the company today operates 33 facilities across 8 states. At full run rates, POET produces 3 billion gallons of ethanol, 14 billion pounds of distillers dried grains, and 975 million pounds of corn oil annually and is a leading purchaser of U.S. grain. In 2019, Fast Company recognized POET on its annual list of "Most Innovative Companies" for transportation and FORTUNE recognized POET on its list of companies that are changing the world. For more information, visit www.fbn.comAbout Gradable
The Gradable platform was launched by Farmers Business Network® (www.gradable.com