How to ClimateTech Updates For February 2021
This article is the first installment of the new feature of my column, ClimateTech Updates. In the ClimateTech update articles, I pass along the latest news about the companies I have featured in previous columns.
I wrote about this amazing company in an article last August using Big Data and the Power of Markets to Climate Change.
Xpansiv collects traceable production data to separate clean goods from dirty ones, helping free markets decide what a reduced carbon footprint is. Xpansiv then offers investors a global market for an expanding ecosystem of proven environmental goods such as renewable energy certificates, carbon offsets and differentiated fuels.
With Xpansiv’s technology and infrastructure in place, clean commodity producers can be paid for both the physical commodity and its digital twin – a traditional asset called Xpansiv digital feedstock. The digital feedstock file contains data about production methods to create “intelligent commodities” that provide a clear path to net-zero. It is a beautiful, brilliant idea that has the disruptive potential for commodity markets as Napster had to record labels.
The big news for Xpansiv is that, in January, the firm announced that it had raised another round of pre-IPO capital to $ 40 million. The new round of funding – which has come from both existing and new investors – reflects the strength of Expansive’s innovative offerings in two ways.
At first, the firm originally planned to raise only $ 35 million, but expanded the round to accommodate strong investor demand. Pro tip: When people want to write you a check, which is larger than the seven figures you are looking for, it is a good sign.
Second, the fact that existing investors placed their bets suggests that they see potential in the company and do not want their positions to be increased. Keep in mind that one of the companies that had already invested in Xpansiv is Oxy Low Carbon Ventures – one of the smartest and most strategic investors in this space. Pro tip: When Smart Money decides to increase the size of its bets, this is a good sign.
The final bit of exciting Xpansiv news, according to CEO Joe Madden, is the company’s look at a listing on the Australian Stock Exchange (ASX) in an initial public offering sometime in 2021.
“Subject to market conditions, all major existing and potential investors are supporters of the plan to be listed on ASX in 2021. The capital will be used to fund development initiatives that continue to strategically drive Xpansiv to success. ”
I finished my last article about Xpansiv with “Time to follow Smart Money …”. For the time being there seems to be someone who can trade ASX.
I last wrote about this Kansas-based start-up in an article titled Capitalism vs. Climate Change: The Case of Priorfood in September 2019. I kept up with the company’s progress during 2020 and will introduce them again in a planned series about carbon sequestration in March.
PrairieFood is a surprisingly innovative agtech company that has invented an organic system that uses 100% clean and organic soil amendments for organic materials or conventional waste organic matter (eg, cow manure from dairy farms, sewage treatment plants Mud etc.). Farm. The amendment creates prairiefood, soil that loves plants so much that they grow like nuts.
The big news for prairiefoods is that the company just released a field test report for the 2020 growing season and the results are really excellent, with 20+ different crops – from fields growing from alfalfa to maize.
The study shows a marked improvement in soil health. After implementing prairiefood for organic crops, soil organic matter (SOM) – a key variable for farmers that relates to health and nutrition – grew spectacularly. A corn field achieved 1.2 percentage points of SOM during a season – an improvement that would normally be on the order of 12 years. Soil health and microbial activity – two other major drivers of robust plant growth – also showed huge improvement.
The happy soil translates into higher yields and higher yields turn into higher revenue for the farmers. The maximum increase in yield after planting prairiefood in corn fields was 42 bushels per acre; This is equivalent to an increase in agricultural revenue of more than $ 150 / acre based on 2020 average corn prices. A large family farm is about 1,400 acres, which adds an additional $ 210,000 in revenue.
I love this company and can’t wait to write about them in next month’s feature series.
I have been writing about carbon engineering for a few years now and in the summer of 2019 it was a pleasure to visit the company’s R&D site in beautiful Squamish, British Columbia. CE is on the front of direct air capture (DAC) technology and is the first company to have a truly industrial scale solution to extract CO2 directly from the atmosphere.