ADM, Farmers Business Network to Expand Sustainable AgTech Platform

Rhea-AI Summary

ADM partners with FBN to offer the Gradable® platform, enhancing farm business management and sustainability solutions for 55,000 farmers in North America. This agreement leverages ADM's extensive grain-buying capabilities and FBN's digital technology to boost profitability and support regenerative agriculture practices. Farmers will gain access to a comprehensive digital toolkit for managing contracts, verifying sustainable practices, and tapping into capital for regenerative initiatives. This initiative aims to advance sustainable production and support new markets for low-carbon grain.

Positive

• Partnership with FBN enhances digital farm management for 55,000 farmers.
• Gradable platform enables farmers to verify and monetize regenerative practices.
• Access to capital with potential discounts for adopting sustainable practices.

Negative

• None.

Companies will work together to offer FBN's Gradable^® – a comprehensive digital platform offering farm business management and sustainability data collection solutions – to 55,000 producers across North America

CHICAGO & SAN CARLOS, Calif.--(BUSINESS WIRE)-- ADM (NYSE: ADM), a leader in sustainable nutrition and agriculture, and FBN (Farmers Business Network^® FBN^®), a global farmer-to-farmer network and AgTech company, today announced they had signed an agreement to expand availability of FBN’s leading-edge digital farm business management platform, Gradable, to ADM’s network of farmers across North America, offering 55,000 growers a comprehensive digital solution to manage their businesses and measure sustainable production data.

Leveraging ADM’s scale and expertise as one of the world's largest grain buyers and FBN’s cutting-edge digital farm commerce and data-analytics, the Gradable platform will enable farmers to identify areas where they can increase profitability of their operation, including measuring, reporting and verification capabilities that will allow them to participate in regenerative agriculture programs and new markets for low-carbon grain.

“ADM is leading in the decarbonization of our industry, meeting demand for food, beverages and consumer products that are produced sustainably from seed to store shelf,” said Greg Morris, president of ADM’s Ag Services and Oilseeds business. “Last year, we committed to reducing our Scope 3 emissions 25% by 2035. Just last May, we committed $20 million in incentives for farmers who use cover crops to improve soil health, prevent runoff and reduce carbon emissions. Now, we’re taking yet another important step by partnering with FBN to expand our array of digital tools and offer our farmer partners a leading-edge platform to measure and verify regenerative agriculture practices, and help manage their businesses. We’re excited to work with more farmers to find new opportunities for them to benefit from the production of differentiated, sustainably produced crops.”

FBN’s 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 markets by allowing them to seamlessly collect and calculate verifiable production data–including carbon scores–empowering them to monetize these downstream benefits in the market. Farmers using the environmental scoring function of Gradable's platform who have adopted regenerative practices, such as cover cropping, nitrogen efficiency tools, or no-till farming, have produced grain with carbon intensity footprints 20-30% below average.

Using the FBN platform, ADM farmers will be able to:

• Access a full digital view of their business, with eventual capability to manage contracts, settlements and scale tickets in a single location
• Receive agronomic guidance and education on maximizing environmental market outcomes
• Verify and maintain records on regenerative farming practices, such as cover cropping, reduced tillage and nutrient management, so as to benefit from specialized ADM (and other) premium programs
• Access operating lines of capital with potential discounts for regenerative practice adoption

“FBN’s Gradable is not only the major digital innovation farmers need to identify opportunities to drive profitability, but it is also the carbon accounting system upon which a low-carbon ag economy can be built, with the potential to decarbonize the food and fuel supply chains on a gigaton scale,” said FBN CEO Amol Deshpande. “Combining ADM’s scale and expertise and FBN’s digital technology with the ability to efficiently, accurately, and consistently calculate and verify regenerative farm practices is powerful, and promises to serve as a catalyst for the development of premium markets that reward farmers for sustainable production. This level of transparency is then transferred down the line to consumers, supporting demand for sustainable consumption.”

Farmers who have used Gradable have spoken highly of its benefits:

"Participating in the program was quick and painless. The program is a great opportunity to earn an extra premium on my soybean crop." - Braden Stefan, Golden City, MO.

"The program was simple and easy to participate in. Like finding money on the ground. Transferring data for the program was easy and worked well with the data platform that we use." - Doug James, Appleton City, MO.

About ADM

ADM unlocks the power of nature to enrich the quality of life. We’re a premier global human and animal nutrition company, delivering solutions today with an eye to the future. We’re blazing new trails in health and well-being as our scientists develop groundbreaking products to support healthier living. We’re a cutting-edge innovator leading the way to a new future of plant-based consumer and industrial solutions to replace petroleum-based products. We’re an unmatched agricultural supply chain manager and processor, providing food security by connecting local needs with global capabilities. And we’re a leader in sustainability, scaling across entire value chains to help decarbonize our industry and safeguard our planet. From the seed of the idea to the outcome of the solution, we give customers an edge in solving the nutritional and sustainability challenges of today and tomorrow. Learn more at www.adm.com.

About FBN’s Gradable Platform

The Gradable platform was launched by Farmers Business Network (FBN) in September 2020 and provides new technology that facilitates grain transactions between producers and commercial buyers, and also provides services that facilitate the scoring, sourcing, and pricing of Low-Carbon Grain. Gradable fully integrates with FBN farmer-facing technology as well as commercial buyer grain accounting systems, and has attracted approximately 1 billion bushels to the platform in less than 9 months. Gradable not only strengthens the relationship between grain buyers and sellers, but also enables comprehensive environmental transparency and supports a market for premium, environmentally-scored grain.

To learn more, visit www.gradable.com.

About FBN

Farmers Business Network (FBN -Farmers Business Network^® FBN^®), Inc. is a global farmer-to-farmer network and independent AgTech platform whose mission is to power the prosperity of family farmers around the world while working toward a sustainable future. Its Farmers First^® promise has attracted over 43,000 members to the network with a common goal of maximizing their farm’s profit potential. FBN has set out to redefine value and convenience for farmers by helping to reduce the cost of production and maximize the value of their crops. FBN members farm more than 98 million acres in the U.S., Canada and Australia. Blending the best of Midwestern agricultural roots and Silicon Valley technology, the Company has over 900 employees with principal offices in San Carlos, Chicago, Sioux Falls, High River and Perth, with significant warehouse and logistics, remote and field employees across the US, Canada and Australia.

To learn more, visit www.fbn.com.

Source: Corporate release
Source: ADM

View source version on businesswire.com: https://www.businesswire.com/news/home/20220721005316/en/

ADM

Jackie Anderson

media@adm.com

312-634-8484

FBN

Amy Wolfcale

awolfcale@farmersbusinessnetwork.com

917-576-8767

Source: ADM

FAQ

What is the partnership between ADM and FBN about?

ADM has partnered with FBN to offer the Gradable platform, which provides farm business management and sustainability solutions to 55,000 farmers in North America.

How does the Gradable platform benefit farmers?

The Gradable platform helps farmers manage their businesses, verify sustainable practices, and access capital for regenerative initiatives, potentially increasing profitability.

When was the Gradable platform launched?

The Gradable platform was launched by Farmers Business Network in September 2020.

What are the goals of the ADM and FBN partnership?

The partnership aims to promote sustainable agriculture, enhance profitability for farmers, and support participation in new low-carbon grain markets.