Regrow uses Agtech to tackle climate change
Climate change, dwindling natural resources, and population growth are challenging the resilience of agriculture, as the cost of food production increases. AgTech is growing and fast becoming a viable solution to enable farmers to absorb and recover from the challenges facing their agricultural production and livelihoods. Technological advances are ensuring we can produce, supply and store food sustainably.
New South Wales has a burgeoning AgTech sector, with over $4.3 billion invested (as at June 2021). In the coming years agricultural technology is set for monumental growth.
Regrow, founded by Dr Anastasia Volkova, based in Tech Central, offers software-as-a-service solutions that enable food and agriculture companies to transition their supply chains to climate-smart agriculture in order to meet their net-zero carbon emission goals.
Regrow recently announced it received $17 million in Series A funding, which it is using to expedite the development and rollout of its Monitoring, Reporting and Verification (MRV) tool. The tool is designed to accurately and transparently report on environmental outcomes, such as carbon sequestration (the process of capturing and storing atmospheric carbon dioxide) and reduction of greenhouse gas emissions, with the ultimate goal of reducing global climate change. The software system also provides farmers with useful historical analysis, scenario planning and future projections.
Regrow’s multinational team of scientists, agronomists, engineers and software developers are committed to transforming the supply chain - from farm to fork. Their key area of focus is their independent tech solution MRV, which cost effectively monitors and verifies that a farmer is following the correct protocols and delivering carbon sequestration as promised.
“Regrow’s MRV platform cracks the code on incentivising growers, suppliers and CPG companies to implement profitable, scalable, climate-forward agriculture practices that can significantly reduce greenhouse gas emissions.” says Anastasia.
Regrow’s vision is for the future of agriculture to be driven by science and technology. One example of this vision is their partnership with Anheuser-Busch and Indigo Ag, which saved two billion gallons of water and reduced the greenhouse gas emissions of rice crops in Arkansas by 27%. The main goal of the partnership was to help farmers in Arkansas grow their crops sustainably while empowering them with the technology, research and financial incentives needed to commit to these sustainable practices long term. The partnership was awarded the 2020 TECH Award by the Arkansas Department of Energy and Environment. Read more about Regrow’s partnerships.
Anastasia explains that while climate change has put agriculture and food production ecosystems at risk ‘… if we treat our land appropriately, we could unlock the power of agriculture as a solution to climate change. Treating our land appropriately means helping farmers adopt climate-smart practices. These practices pull harmful emissions, like carbon, out of the atmosphere and store it in the soil.
“We can help incentivise climate-smart practices by paying farmers for their efforts in the form of credits; farmers are paid for each metric tonne of greenhouse gasses they store through the ecosystem markets. Instead of relying on costly field visits and extensive laboratory soil testing, a scalable MRV leverages the latest developments in farm digitization, remote sensing, and soil modelling. This enables the industry to make an impact today and to continuously improve as new scientific discoveries are made.
“As more farmers trust markets and adopt climate-smart practices, more emissions will sink into the soil. By initiating the drawdown through agriculture we will start healing the climate and, if we are persistent, avert the greatest threat humanity has ever faced.” says Anastasia.
Regrow’s location within Cicada Innovations has helped it to network and recruit talent. Its proximity to leading universities has been instrumental in creating internship programs.
When Regrow first moved into Cicada Innovations they were in awe of the teams there who were making products being used all over the world, and humbled by the casual water cooler stories of phenomenal success. Now Regrow has employees in eight countries and supports the biggest and best food and agriculture companies around the world.
Dr Anastasia Volkova, CEO and founder of Regrow has been named one of the BBC 100 women in 2020; listed in the MIT Technology Review of Innovators Under 35; and is recipient of a Sydney University Alumni Achievement Award and Amelia Earhart Fellowship.
Anastasia concedes that as a young company, recruiting talent can be their biggest challenge. In the specialised and fast paced field of AgTech, attracting skilled and experienced people from around the world is crucial to the ongoing success of Regrow. Being part of the Tech Central community gives them the network and location, in the heart of Sydney, they need to be able to attract new talent from Australia and overseas.
