Terramera, a Vancouver based AgTech firm, has announced its plans to build a $555m (C$730m) Global Centre for Regenerative Agriculture in Canada. Terramera hopes to raise the C$730 million from private investors as well as federal and provincial governments.
The proposed C$730 million in funding would go towards securing 250,000 to one million square feet of space for labs, classrooms, greenhouses, offices, and classrooms in British Columbia. A portion of the funding would also be allotted for an artificial intelligence and machine learning (AI/ML) engine for plant and soil health.
“Canada has the opportunity to lead the world in regenerative agriculture, build Canadian innovation, technology and our economy and turn back the clock on climate change to set a new course for our planet.”Karn Manhas, Founder and CEO, Terramera
Microsoft is expected to play an important role in bringing the Global Centre to life with its Azure storage and compute services running Terramera’s artificial intelligence (AI) and machine learning (ML). Microsoft’s FarmBeats will also serve as the data collection platform to integrate field data.
“Microsoft has a long-standing commitment to sustainability and the work Terramera is doing with AI will go a long way to help farmers and ranchers fight climate change.”John Weigelt, National Technology Officer, Microsoft Canada
The world’s largest regenerative agriculture initiative is expected to help Canadian farms and ranches remove 78 gigatonnes of carbon dioxide out of the atmosphere by 2050. The company stated that 2.5 million jobs could be created in Canada in the coming decades, by taking up the regenerative farming practices.
Assuming funding goals are met, Terramera said its plan is “shovel-ready and ready to staff in 2021, with sensing studies and facility construction extending through 2025.”
Terramera is a global agtech leader fusing science, nature and artificial intelligence to transform how food is grown and the economics of agriculture in the next decade. Founded in 2010, it’s a privately held company headquartered in Vancouver, British Columbia, Canada, and have integrated operations in Canada, the US and India that include research labs, a greenhouse and farm, and more than 200 patents in its IP portfolio.