Sept. 1, 2020

Sioux Falls-based POET and Farmers Business Network, which has a large office in the city, are working together on a new network.

The GRO Network is designed to create “environmental transparency and matches farmers who use environmentally friendly practices with buyers who pay a premium for low-carbon corn,” according to POET.

The network aims to boost profits for farmers while promoting sustainable agricultural practice, POET’S statement said.

“At POET, we know that agriculture is the key to combating climate change, and we want to support farmers who share our mission to be good stewards of the Earth by using environmentally friendly practices,” founder and CEO Jeff Broin said.

“We are excited about the potential of the GRO Network to promote sustainable agriculture and utilize the resulting low-carbon corn to produce even greener bioethanol and bioproducts.”

The GRO Network connects farmers who use measurable sustainable practices with buyers who are willing to pay for verifiable low-carbon grain. The program is groundbreaking in its focus on abatement and using proven science to measure the benefits of conservation practices used by farmers on their land, POET said.

These measurements result in a farm-level carbon-intensity score that can be used by policymakers to more accurately assess the greenhouse gas reduction for low-carbon fuel policies and make smarter decisions to meet their sustainability goals, the company said.

“The agricultural industry has long felt the impact of climate change in the form of extreme weather, flooding and droughts, which is why so many farmers have been investing and working to reduce their environmental impact for some time,” said Amol Deshpande, CEO and co-founder of Farmers Business Network.

“Now, a standardized, accurate and comprehensive scoring tool arms all stakeholders – from farmers, food companies, consumers and investors – with the information and technology they need to make the right decisions for their farms, customers, clients and the planet.”

POET began working with FBN two years ago on a pilot project that demonstrated the viability of the GRO Network approach.

Compared with other programs that face challenges with testing and marketplace development, abatement alone has been proven to reduce agricultural emissions by up to 50 percent while also increasing farm incomes, POET said.

“POET is committed to using low-carbon grain to produce biofuel to fulfill available low-carbon fuel markets, which will enable governments, companies and consumers to reduce their transportation emissions and join the renewable revolution,” the company said.