Agtech Action | Week of 10.02.21 - 10.08.21
Agtech Action is a weekly newsletter highlighting current events in the world of agtech, and some light-hearted commentary
Truck drivers are needed to help with port backlogs, Amazon is making a smart fridge, and the world’s largest Kosher certifier won’t endorse Impossible Pork. Benson Hill rings the NYSE morning bell, honey made without bees (really?!), and is AI the future of CPG (interesting article by Frank Pica of Native.AI). The Global Aquaculture Challenge comes to its exciting conclusion; and the Yield Lab Institute debuts its podcast, branded ‘Unconventional Growth’, with its first episode (Check it out here). More value, more content right here in one place on the weekly newsletter brought to you by the Yield Lab Institute.
Food and the World:
USDA puts into action its pledge to expand meat industry capacity
U.S. trade relationship with China remains challenged
U.S., China Container Shipping Rates Plummet 50%, Backlog of Unfilled Orders Grows
Retailer acquisition: Raley’s gets Bashas’
Obesity is still on the rise (0:45 mark)
Collecting seeds to restore prairie grasslands
What’s the Point of 15-Minute Grocery Delivery? A number of VC-backed startups promise to provide ultra-fast grocery delivery without raising prices or hurting workers. Whether it’s possible or will make cities better is still up for debate.
Wacky weather patterns threaten our pumpkin supply
Port of LA Backlog Issues Compound Supply Chain Concerns, Causes Exports to Sink 23%
Demand for potatoes remains strong (0:50 mark)
Tariffs to Remain in Place, but U.S. Trade Rep Wants to Talk with China
U.S. Cattle Market Disruptions Report Delivered To Congress, USDA
Climate change is a big problem for farmers in Hawaii
In lawsuit over stranded pollock, judge denies seafood harvester temporary relief
This is what trauma-informed hunger relief looks like
Records show slow response to report of Orange County oil spill
Farmer sentiment declines in September, inflation expectations jump
PepsiCo researching how ingredients affect mental performance
CDFA announces recall of raw cow milk produced a Valley Milk Simply Bottled of Stanislaus County
WWF Statement on the Introduction of the FOREST Act
Fresh Thyme Market names St. Louis native to lead new Foundry store
More Farmers Experiment With Cover Crops, A Climate Tool, Survey Shows
U.S. & China Expected to Hold Virtual Meeting
Kenya: Drought to Get Worse As Reduced Rains Predicted
August Beef Exports Top $1 Billion; Pork Exports on Record Pace
USDA Announces More Than $146M Investment in Sustainable Agricultural Research
McDonald's targets net zero emissions by 2050, from meat to energy
The cheap and easy climate fix that can cool the planet fast
Lack of truck drivers (0:05 mark); effort to lower age restrictions
USDA announces plan to integrate climate adaptation into its missions and programs
Agtech in the News:
With $817m+ raised in September alone, start-ups in Africa keep setting the bar higher and higher
Global Aquaculture Challenge finale: Wittaya Aqua takes home $120k cash prize
Amazon is Building a Smart Fridge
Artificial lightning zaps farm stink
Startup Foodshed.io pursues national expansion after snagging spot in Chipotle accelerator program
Donald Danforth Plant Science Center wins grant to launch new geospatial/agtech innovation center
CropIn partnership to serve African agricultural industry
Popular Online Farm Equipment and Land Auction Service Sites Crippled by Ransomware Attack
Ransomware attack on ag website (0:05 mark)
Ag-Analytics Acquires AcreValue
Global Aquaculture Challenge feature: Salmokine
New West Genetics makes cover of Genetics
Benson Hill goes public and rings the morning bell at the NYSE
Kubota and Yamaha Motor invest in U.S. startup developing robots to automate strawberry harvesting
Delta Airlines agrees to buy 250M gallons of sustainable aviation fuel (0:05 mark)
Waterhemp goes off script to resist herbicides
New technology will help achieve more regular cropping
Nestlé’s first net-zero carbon emissions dairy farm
World’s largest kosher certifier won’t endorse Impossible Pork
Concentrate farming to leave room for species and carbon, better than 'eco-friendly' agriculture
Growers Edge Launches Digital Ag Lending Platform
Fun:
Tuesday is National Fruit at Work Day (1:15 mark)
Halloween Peeps are back! (1:15 mark)
Model Cow: A Dairy Cattle Show Tradition to Get Cows to Say Cheese
Cinnamon Bun is latest Snickers flavor (1:20 mark) (available at Walmart in the Fall for limited time)
Helpful Resources:
Career Listings at the Farm Journal
Exercise is apparently more helpful when done in the afternoon (1:10 mark); I’m a morning guy myself!
Food Security and Climate Mitigation as Counterinsurgency
Q3 2021 AgTech Venture Capital Investment and Exit Round Up (great roundup of agtech VC from the Yield Lab’s Kyle Welborn)
Loan guarantees for ‘middle of the supply chain’
USDA Introduces New Insurance Policy for Farmers Who Sell Locally
Interesting Reads:
Rural America is becoming more diverse
USDA's Vaccine Candidate Successful in Blocking Spread of African Swine Fever Virus
Facing a merger and a pay cut, chicken farmers push back
One Alaska bay is booming with salmon, for now
Collecting seeds to restore prairie grasslands
Why Good Is Good Enough When It Comes to New Ag Tech
Hundreds of healthy pigs slaughtered amid UK shortage of abattoir workers (this is not good at all)
Venezuela's coastal villages, fisherman suffer as oil spills rise
How The West’s Climate Campaign Against Meat Could Harm Millions In Developing World (more contrarian evidence)
Crop of agtechs aim to overturn Brazil’s image as eco villain
Instagram promoted pages glorifying eating disorders to teen accounts
New Record $26,000/Acre Iowa Farmland Sale, Record Amount of Land Could Flood Market in Next 60 Days
Google wants to show your carbon emissions on planes (0:45 mark)
The Consumer Panel is Dead: How AI is Leading the Future of CPG (fascinating article by Frank Pica, CEO of Native.AI a consumer focused agtech startup)
Why I’m wary of too much certainty (another great article on the animal protein industry and consolidation downstream and fragmentation upstream on the value chain from Janette Barnard)
How an Ancient Potato Could Thrive in a Changing Climate
Contributed Content From WIA Summit: Understanding The Plant-Based Consumer
Farmers Need Access to Seed Innovation for Climate Change Resiliency
The Future of American Farming: Broadband Solutions for the Farm Office, Field, and Community
Faux Meat Falters at the Drive-Thru (I’ll just leave this here to digest)
Developing Better Cowpeas, with Gender and Youth Concerns at the Forefront
To Address Climate Change, Mend Ruminant Production, Don't End It
Food systems account for more than one third of global greenhouse gas emissions (according to the FAO)
Finance:
RTP agtech startup AgBiome raises $116M in fight to feed world responsibly
AgIS hires former Hancock water exec in sustainability role
Nuveen Natural Capital is a ‘call to arms’ – Martin Davies
South Korean indoor ag startup N.Thing nets $26m Series B funding
Smart-tech start-up secures funding; Cambridge start-up raises £750,000 for its 'revolutionary system' promising a 'new future to fruit farming'
Pluton Biosciences Raises $6.6 Million in Seed Round Funding
Why Australia’s best-known economist says we need to be valuing natural capital on our farms
Temasek and CPP investments return to lead $350m Series D for Perfect Day
Semios Raises $100m To Bring “Precision Agriculture As A Service” To The World
Eatable Adventures Launches €50m Food And Ag Tech Fund
Australian land price growth to remain robust – Rabobank
Cultivated meat offers £2.1bn economy boost, claims start-up
8F holds $61M first close on Southeast Asia aquaculture fund
Alaska Retirement Board adds $300M to UBS-managed farmland portfolio
How Abu Dhabi’s ADQ is strengthening food security
ADQ’s local food security effort has already influenced global markets
Introducing ‘Unconventional Growth’: A Podcast of the Yield Lab Institute
Houston, we have an ag/food podcast!
Learn about how NASA jumpstarted controlled environment growing and how innovators today are exploring how growing in space can help us grow more sustainably here on Earth. The Yield Lab Institute just launched Unconventional Growth, a podcast featuring founders in future tech in ag and food and the inaugural episode features a conversation for innovators by Bob Morrow of Sierra Space, who developed growing systems used on the space shuttle and the ISS, and Scot Bryson of Orbital Farm, who’s developing closed loop farms to grow food and vaccines on Earth and in space. Listen and subscribe to hear more episodes as we feature more innovators working at the leading edge in ag and food!
A link to the podcast can be found here. Tune in and share!
Global Aquaculture Challenge Finale: Award Winners
This past Thursday October 7th, we hosted the finale event for the Global Aquaculture Challenge. Each of the 8 finalists gave their pitches and fielded questions from the esteemed group of judges, experts and the audience. Ultimately, the awards went to:
Wittaya Aqua won the grand cash prize of $120k
Salmokine won the Salmon Sustenable $50k prize for Innovation
Jala won the AquaBridge MENA Prize for Innovation
A great group of innovations and finalists that we will continue to watch their progression and growth.
Thanks for reading our newsletter and stay tuned for more exciting content from the Yield Lab Institute!
BD
Brandon Day is the Chief Operating Officer of the Yield Lab Institute, the think-tank, non-profit arm of The Yield Lab global network of venture capital funds and accelerator programs.