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CarbonFarm Technology, headquartered in Paris, has successfully raised €2.5 million ($2.6 million) in seed funding to spearhead efforts in reducing carbon emissions associated with rice farming, utilising satellite-validated carbon credits.
Aerial view of rice fields.
The investment round saw participation from Racine2, backed by Serena and makesense, TechMind, Ponderosa, AgFunder, Climate Capital, and BPI France. With this financial backing, CarbonFarm Technology is positioned to expand its operations in the largest rice cultivation regions worldwide, including Asia, Africa, and South America.
Rice production is a significant contributor to global methane emissions, accounting for approximately 12%. However, it also holds great potential for mitigating such emissions through sustainable practices, such as improving nutrient efficiency and implementing the Alternate Wetting and Drying (AWD) method, which can cut methane emissions by up to 48%.
CarbonFarm Technology recognises this potential, and CEO Vassily Carantino states that rice farming's mitigation potential is high. The challenge lies in measuring emissions reductions across vast areas. Traditional methods, like farm logbooks, are cumbersome and produce unreliable results. CarbonFarm Technology turned to satellite technology for a more reliable solution. Satellites provide unbiased, independent data for monitoring farming practices, making it a scientific approach to tracking changes over extensive regions.
CarbonFarm Technology offers end-to-end services, including satellite monitoring, emission quantification, carbon certification, and the sale of carbon credits on voluntary markets. This comprehensive approach verifies changes in farming practices and calculates emissions reductions. As a result, farmers can claim carbon credits, potentially boosting their profits by up to 20% annually.
CarbonFarm Technology collaborates with agribusinesses, rice buyers, governments, and organisations with established relationships with smallholder farmers, ensuring trust and access to the farming community.
The company's work extends to Scope 3 emissions qualification for major rice buyers, including Mars and Ebro, in line with Article 6.2 of the Paris Agreement.
This approach aligns with the evolving motivations of buyers, who increasingly seek high-quality credits that can withstand regulatory scrutiny. They are willing to pay a premium for this assurance, and CarbonFarm Technology's pricing reflects this commitment at $25/credit compared to the typical $5/credit.
Importantly, CarbonFarm Technology strives to ensure that 70–75% of carbon credit revenues are reinvested in farmers, establishing a direct link between sustainable practices, emissions reduction, and tangible rewards.
In a world facing pressing environmental issues and food security concerns, the adoption of sustainable agricultural methods emerges as a viable and enduring solution. DGB Group firmly upholds the belief in the synergy of nature and innovation, recognising that it is through the unwavering commitment to sustainability and nature restoration that we can pave the way for a brighter and greener future for all.
Our nature-centric initiatives encompass an array of sustainable agricultural techniques, including agroforestry and regenerative agriculture. Furthermore, we are dedicated to the preservation of biodiversity and the prevention of habitat loss through sustainable land management and the deliberate selection of plant species. Notably, our support for local communities in the development and maintenance of sustainable farming practices stands as a pivotal cornerstone in ensuring the sustained success of our initiatives.
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