Harpe Bioherbicide Solutions, a North Carolina-based agricultural technology company, has announced a successful $10.5 million funding round led by ADM. The oversubscribed round also saw follow-on investments from iSelect Fund Management, Alexandria Investment Ventures, private agricultural industry investors, and company leadership. The funds will continue research and development into Harpe’s portfolio of natural and sustainable herbicide formulations that use active ingredient compounds in plant extracts. The financing also supports the development of Harpe herbicide-tolerant row crop systems, which will expand and strengthen the company’s intellectual property portfolio.
Harpe’s product line provides broad-spectrum control of grass and broadleaf seeds or weeds through various all-natural herbicide formulations. The products enable organic and regenerative agriculture, and Harpe’s customized premix formulations enhance the management of weeds that are difficult to eradicate and resistant to modern synthetic chemicals. As a result, the usage of synthetic herbicides in row and specialty crops and the commercial and consumer sectors may be reduced, replaced, and rotated quickly for farmers. In addition, Harpe’s crop resistance to herbicide formulations will be pioneered in the utilization of plant-based herbicidal active chemicals, giving producers new resources to aid in producing plentiful, healthy crops.
A.J. Todd, VP of commercial development for ADM’s mint business, said that sustainability is a core pillar of ADM’s growth strategy and purpose as a company. The collaboration with Harpe Bioherbicide Solutions will enable ADM to introduce new, nature-based herbicide options and combine ADM’s plant science and sourcing capabilities with Harpe’s groundbreaking work. Bill Buckner, CEO of Harpe Bioherbicide Solutions, said their all-natural herbicide formulations would offer new opportunities for organic and regenerative agriculture.
The financing allows Harpe to bring its portfolio of revolutionary, natural herbicides and herbicide-resistant trait technologies closer to the market and the farmers needing new solutions, according to Daniel Pepitone, COO of Harpe Bioherbicide Solutions. The company’s mission is to support farmers worldwide by creating natural pesticide solutions to lessen the obstacles posed by rising weed resistance while promoting environmentally friendly food production methods.
Photo by John-Mark Strange on Unsplash
1 Comment
You must log in to post a comment.