Pivot Bio's N-OVATOR® Program Reaches New Heights With 1.4 Million Qualified Acres For 2024

(MENAFN- PR Newswire) By year end, more than $13 million paid to farmers in the program

BERKELEY, Calif., Oct. 21, 2024 /PRNewswire/ -- Pivot Bio, a leading agricultural technology company, today announced that its N-OVATOR®
sustainability program has reached a significant milestone, with 1.4 million enrolled acres qualified to generate nitrogen credits during the 2024 growing season. This achievement represents nearly double the acreage from the previous year, highlighting the rapid adoption of sustainable farming practices among U.S. growers.

The N-OVATOR® program, launched by Pivot Bio to incentivize and reward farmers for reducing synthetic nitrogen use, has seen continued strong growth since its inception. By confidently replacing traditional nitrogen fertilizers with Pivot Bio's microbes that provide a new source of nitrogen, participating farmers can create an additional revenue stream, save money on fertilizer and increase yield potential, all while improving soil and watershed health.

"We're thrilled to see such tremendous growth in the N-OVATOR® program," said Karsten Temme, chief innovation officer and co-founder of Pivot Bio. "This milestone of 1.4 million qualified acres demonstrates our customers' willingness to join with partners to make it easier for companies across the ag value chain to decarbonize."

In addition to the program's expansion, Pivot Bio announced it has
partnered with more than a half dozen leading agriculture companies, including major consumer packaged goods companies, ingredient suppliers, spirit producers and grain buyers, to pay farmers for the impact they made in the 2024 growing season.

"We offer a new source of nitrogen that improves grower economics while also providing value to society through improved soil health, environmental impact and enhanced farm profitability," said Chris Abbott, Pivot Bio's chief executive officer. "It's a win-win-win for our partners, the planet and critically, for farmers. In such a tough economic time, we're proud to be able to help farmers diversify their income and grow margin."

By the end of the year, Pivot Bio's N-OVATOR® program will have paid over $13 million to farmers for implementing better nitrogen management practices since its launch in 2022. The N-OVATOR® program provides annual payments to farmers based on their replacement of synthetic nitrogen with Pivot Bio's microbial source of nitrogen, with some participants receiving up to 50% of their investment in Pivot Bio's products.

"Our partnerships with these companies mark a significant step forward in rewarding farmers for adopting sustainable agriculture practices," Temme explained. "The N-OVATOR® program is becoming an integral part of modern farming operations, aligning agricultural practices with global sustainability goals. We invite others across the ag industry to reach out to discuss how you can join us on this journey."

Looking ahead, Pivot Bio aims to expand the N-OVATOR® program by exploring opportunities in new geographies and crops. The company is also developing next-generation products that could replace even higher amounts of synthetic nitrogen, potentially increasing the benefits for both farmers and the environment.

About Pivot Bio
Pivot Bio is a leading sustainable agriculture company delivering to farmers patented crop nutrition technologies that harness the power of nature to reliably and productively grow the food the world needs in the face of increasing volatility. Currently available in North America and soon in Brazil, the company's products are a breakthrough innovation. They are among the industry's most promising climate solutions. The company's nitrogen is weatherproof, safer to handle, and does not leach or contribute to nitrous oxide emissions. Pivot Bio has been recognized twice by Time magazine on its annual list of best inventions, by Fast Company on its World Changing Ideas and World's 50 Most Innovative Companies lists, by CNBC on its Disruptor 50 list of private companies, by Fortune on its Impact 20 list of startups driving social good and by MIT Tech Review as one of 15 climate tech companies to watch. For more information, visit PivotBio.

SOURCE Pivot Bio, Inc

MENAFN21102024003732001241ID1108803004