Pivot Bio, a prominent sustainable agriculture enterprise, has unveiled that its sustainability initiative, N-OVATOR™, has disbursed over $6 million to farmers for adopting enhanced nitrogen management practices since its inception in 2022. N-OVATOR™, a pioneering insetting program targeting nitrous oxide emissions, offers prompt, yearly payments to farmers, marking a significant departure from traditional agricultural compensation models.

Distinct for its repeatability and flexibility, the N-OVATOR™ program provides growers with consistent compensation cycles for employing a more dependable form of nitrogen. It achieves this by fostering connections between farmers and corporations striving to attain Scope 3 emissions reduction objectives. Noteworthy participants in the N-OVATOR™ initiative include leading consumer goods companies, ingredient suppliers, spirit producers, and grain purchasers, all endeavoring to enhance the sustainability of their agricultural supply chains.

This year, downstream entities engaged in N-OVATOR™'s insetting collaborations made payments to recognize Pivot Bio growers' shift in practices following the 2023 harvest season. Among these transactions, the sale of 100,000 nitrogen credits to a global food and beverage giant stands out. These credits, representing 100,000 metric tons of carbon dioxide equivalent, signify the collective efforts of over 450 farmers across 300,000 acres within the company's supply network, replacing more than 10 million pounds of synthetic fertilizer.

"The size and scope of N-OVATOR™'s partnerships represent a major shift in how companies are investing in sustainable agriculture," said Karsten Temme, chief innovation officer of Pivot Bio. "By partnering directly with growers in their supply sheds, companies are taking impactful steps to improve their environmental footprint while reducing their Scope 3 emissions."

Participating growers stand to benefit from revenue streams generated by the sustainability advantages of using PROVEN® 40, a microbial nitrogen capable of substituting up to 25% of total nitrogen requirements. This innovative approach aids farmers in achieving higher returns on investment through improved nitrogen management practices.

"By providing growers with a tool to measure the impact of their nitrogen management practices and serving as a bridge to companies that want to partner with them directly, we're creating a new, low-risk revenue stream for our customers, while delivering a scalable solution to companies with ambitious climate objectives," said Temme.

The impact of N-OVATOR™ in 2022 alone saw the avoidance of over 80,000 metric tons of CO2 equivalent across 725,000 acres, equivalent to the annual electricity consumption of 15,000 households. As the program looks ahead to its FY2023 results, discussions with potential corporate partners for the upcoming cycle indicate growing momentum.

Pivot Bio aims to expand its outreach to more growers, acres, and corporate collaborators in the 2024 program. Those interested in participating in the N-OVATOR™ initiative can find more information at www.pivotbio.com/novator-program.