Jan 30, 2020
Partnership paves way for farmers to sell carbon credits
The partnership gives farmers an incentive to grow crops in a way that removes carbon from the air by using the most advanced nature-based technology, according to a press release from the two firms.
Paul Zorner, Locus AG’s Chief Agronomist, said the collaboration “takes advantage of Locus AG’s immediately scalable microbial solution that can be used to treat tens of millions of acres here and abroad and can make a significant impact by putting carbon in the soil where it belongs.”
Farmers who work with Locus AG and Nori this year and have been practicing regenerative agriculture since on or after January 1, 2010, will be able to sell their resulting carbon credits – currently selling for $15 – for every ton of carbon dioxide (CO2) sequestered. After 2020, the price will be set by the open market. Starting in 2023, there could be an even bigger payout based on the record amounts of carbon that can be sequestered by using Locus AG’s global award-winning Rhizolizer line of customized soil amendments.
Paul Gambill, Nori’s CEO, said in the release their goal was “to make it as easy as possible for farmers to get paid for taking action to remove and store carbon.”
Locus AG develops fresh, customized soil “probiotics” that supercharge soils’ ability to sequester carbon faster than traditional grower practices, according to the press release. The certified organic soil amendment won the global Crop Science Award last year for Best New Biological Product (biostimulants category) based on its proven ability to remove carbon and increase crop productivity.
Nori is using the COMET-Farm carbon and greenhouse gas accounting system supported by the U.S. Department of Agriculture’s Natural Resources Conservation Service and developed by the Natural Resource Ecology Laboratory at Colorado State University, according to the press release. Nori’s approach establishes a conservative estimate for creating standardized carbon baselines while having a pathway for innovative products like Rhizolizer to realize future carbon payments. Nori’s work also is mentored and guided by Techstars and The Nature Conservancy.