The Bayer Trendlines Ag Innovation Fund (“the Fund”), set up by Bayer CropScience LP (“Bayer”) and The Trendlines Group Ltd., announced the establishment of TierraSpec Ltd. (“TierraSpec”), a new company focused on real-time remote measurement and validation of carbon sequestration in agricultural soil to allow the issue of carbon credits and soil health monitoring. TierraSpec’s technology is based on over 30 years of scientific research performed in the lab of Prof. Eyal Ben-Dor at Tel Aviv University and is commercialized in collaboration with Ramot, Tel Aviv University’s Technology Transfer arm and with the Israel Innovation Authority. TierraSpec is headed by CEO, Avital Levy-Lior, PhD.
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Soil is the second largest carbon sink in the world and yet only 1-2% of projects are eligible for issuing carbon credits from carbon sequestration in agricultural lands. This is due to the lack of reliable economical technology for the measurement and quantification of carbon in agricultural soils.
TierraSpec is developing a platform for measuring and validating carbon sequestration in agricultural soils using remote sensing, employing unique testing methods and advanced machine learning modeling. The platform will be a cost-effective tool for the validation of carbon sequestration that will allow reporting to carbon registries for issuance and sale of carbon credits.
Trendlines Agrifood Fund CEO, Nitza Kardish, PhD commented, “We believe TierraSpec will revolutionize the measurement and validation of carbon sequestration in agricultural soils. Enabling farmers to accurately report on the carbon content in their fields will give them access to the carbon credit markets and encourage a widespread move to more sustainable agricultural practices.”
“Scalable soil measurement, reporting, and verification will be crucial in the development of a model-based soil organic carbon estimation,” said Johan Botterman, PhD, from the Open Innovation and Strategic Partnerships team for Bayer CropScience. “We are excited to support TierraSpec in the development and application of new soil assessment tools, and addressing the increasing interests in soil health, as part of our commitments to innovation and sustainability.”
The Bayer Trendlines Ag Innovation Fund was established in 2016 as a collaborative partnership between The Trendlines Group and Bayer to invest in agricultural technologies. The partnership includes a US$10 million investment from Bayer. Bayer’s decades of experience in agricultural science, innovation, and regulatory affairs, alongside Trendlines’ specialization in investing in innovative, early-stage medical and agricultural technologies, form the base of this strong alliance.