Indigo Ag Sets Out Plan for Renewal in Accelerated Drive to Profitability and Growth

BOSTON, May 2, 2024 /PRNewswire/ -- Indigo Ag today announced the establishment of two new business units focused on Sustainability Solutions and Biological Products as part of a renewal and reorganization of the company following the appointment of Dean Banks as the new Chief Executive Officer.

The establishment of the new business units will streamline the company, providing clear decision-making, improved alignment on commercial goals and accountability for results, and will enable the company to better serve and deliver for its partners and customers across agriculture.

A renewed innovation orientation, embedded throughout the company, will drive global expansion and new solutions and products. In addition, the company will continue to exit non-strategic and non-core businesses so that it can focus resources on the biggest opportunities for its partners and customers.

The new approach is reflected in a revamped leadership team with extensive local and global experience in agriculture, science and technology. This includes Georg Goeres, who will lead the Biological Products business unit; Ewan Lamont, who will lead the Sustainability Solutions business unit, and Bernie Barbour, the Chief Technology Officer.

Following its last successful funding round, which raised over $250 million in additional capital to drive innovation and growth, the company is taking further steps to de-risk its path to profitability through accelerating revenue growth and a decisively lower cost structure.

Commenting on today's announcement, Dean Banks, Chief Executive Officer, Indigo Ag said: "Indigo is one of the most exciting and scientifically rigorous companies in agriculture today. We continue to demonstrate impressive growth with the world's largest and most scalable carbon farming program. This has already generated the first ever registry issued ag-based carbon credits at scale while also enabling the value chain to account for and reduce their Scope 3 emissions in agriculture. We are also the market leader in innovative, naturally derived biological ag inputs and a front-runner in nature-based sustainability science, technology, and policy.

"By establishing our new business units and a renewed innovation orientation, alongside prudent restructuring and focusing of resources, we will be able to streamline our business and further develop our strategic partnerships to better serve our customers. Specifically, we will provide them with an expanding range of solutions they need to restore soil health and increase farm profitability. This also helps to fulfil the urgent global demand for a more resilient, sustainable, and climate-smart agriculture that can deliver so many positive outcomes for the planet.

"I could not be more impressed by the passion and commitment of our team and am excited to realize the potential of this 'NewIndigo' as quickly as possible."

About Indigo Ag
Indigo Ag is the innovative leader and trusted partner in sustainable agriculture and biological solutions. Powered by science and technology, Indigo helps farmers and agribusinesses optimize today's yields and profitability, while nourishing the soil for better tomorrows.

The company's biotrinsic® natural microbial solutions help farmers maximize crop performance by empowering plants to combat environmental and biological stresses and improve nutrient access. Indigo's Sustainability solutions include its carbon and sustainable crop programs that enable farmers to choose how to best profit from their sustainable practices while promoting practices that help land keep its value for future generations. Indigo is the largest and fastest growing issuer of nature-based, registry issued agricultural soil carbon credits in the world and currently the only company offering high quality agricultural carbon credits and scope 3 emissions reductions at scale to help corporations reach their sustainability goals. The company's state-of-the-art digital software facilitates greater efficiency, accuracy and profitability for crop transactions.

Established in 2013 and operating in 14 countries around the world, Indigo Ag turns on-the-farm sustainable practice into value for farmers, agribusinesses, and corporations, creating a world with thriving farmers and environmentally prosperous companies.

SOURCE Indigo Ag