Key Takeaways:
- Milestone Achievement: Growers Edge’s (Profile) Crop Plan Warranty now covers more than 1 million acres of farmland in the United States.
- Risk Reduction: The warranty offers financial protection to growers if yield targets are not met when using recommended inputs.
- Market Adoption: The tool is utilized by hundreds of growers and four of the top ten largest agricultural retailers in the U.S.
- Enhanced Adoption: The warranty helps retailers and manufacturers promote innovative and sustainable farming practices.
- Broader Impact: Growers Edge has partnered with major organizations like Nutrien, PepsiCo, and Helena Agri-Enterprises to encourage sustainability in agriculture.
What Is the Growers Edge Crop Plan Warranty?
The Crop Plan Warranty is a financial tool designed to reduce the risks growers face when adopting new products, practices, or technologies. Retailers and manufacturers can attach the warranty to any product, bundle of products, or full-acre prescriptions.
If growers use the inputs as directed and yields fall below expected targets, the warranty compensates them with cash, providing a safety net that encourages experimentation with innovative methods.
“After agronomists establish the benefits of a new product or service, they use the Crop Plan Warranty as a persuasive tool,” said Todd Robran, Chief Commercial Officer at Growers Edge. “It shows they’re so confident about their recommendations that they’re willing to back them up with warranties.”
How Does the Warranty Promote Adoption of New Practices?
The warranty addresses growers’ hesitations about adopting new practices or products by mitigating financial risks. For example:
- A manufacturer with a new fertilizer product that required lower usage rates faced resistance from growers accustomed to higher rates.
- By offering the Crop Plan Warranty, the company reassured growers and retailers, making the product more widely adopted.
This approach enables growers to try innovative and sustainable practices without fear of financial loss if the results fall short.
What Are the Milestones Achieved by Growers Edge?
The milestone of covering over 1 million acres is part of a broader series of achievements for Growers Edge, including:
- Serving four of the top ten largest agricultural retailers in the U.S.
- Partnering with organizations like Nutrien, PepsiCo, Mondelez, and Helena Agri-Enterprises to drive sustainable agriculture.
- Acquiring AQUAOSO Technologies, now operating under the Agcor brand, which offers mapping, data, and analytics software for agricultural lenders.
- Expanding RangeAg, its farmland valuation tool, to cover over 144 million acres across nine states.
- Supporting a major awardee of the EPA’s $14 billion National Clean Investment Fund.
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