Farmers Business Network (FBN) and Archer Daniels Midland Company (ADM) announced today the formation of a new joint venture, Gradable, to enhance the Gradable technology platform. This initiative aims to broaden the reach and impact of sustainable and regenerative agricultural practices among farmers and grain buyers.
Gradable, first introduced in 2020, is a pioneering platform that tracks and rewards sustainable farming practices. It provides grain buyers with farm-level data to source sustainably produced grain, meeting the rising consumer demand for such products. With partners including ADM, POET, and Attebury Grain LLC, Gradable has become a significant player in North America's grain procurement scene, serving over 20,000 farmers across 12 million acres.
The joint venture, owned equally by FBN and ADM, will enable Gradable to expand its technology and services throughout ADM's extensive network in the U.S. and Canada. This expansion is expected to include more commercial partners and reach additional countries, ultimately facilitating global market access to sustainably produced agricultural products.
Steele Lorenz, newly appointed CEO of Gradable, expressed enthusiasm about the venture's potential. "Gradable is set to become the industry’s leading technology platform for sustainability scoring at scale," Lorenz stated. "We are eager to welcome new partners from the consumer packaged goods and grain buying sectors as we aim to serve a broader market and more farmers."
Diego Casanello, CEO of FBN, highlighted the benefits for farmers. "This partnership with ADM will provide farmers with enhanced insights, incentives, and support, helping them to profitably implement regenerative practices," said Casanello.
Greg Morris, president of ADM’s Ag Services and Oilseeds business, emphasized the critical role of technology in scaling sustainable agriculture. "ADM's regenerative agriculture efforts already span over 2.8 million acres," Morris noted. "A robust technology platform like Gradable is essential for enabling more farmers to participate and for providing grain buyers and end customers with the necessary farm-level data."
Gradable's digital infrastructure not only facilitates efficient and secure grain transactions but also supports farmers in collecting and monetizing verifiable production data, such as carbon scores, in the market. This capability positions Gradable as a key player in the transition towards a more sustainable and transparent agricultural sector.
