AgriDigital has taken the next major step as part of its growth strategy with the first grain transactions processed via its platform in the United States as harvest finally got underway.
Almost exactly two years after launching in Australia, AgriDigital ‘went live’ in North America, completing its first transaction: 921 bushels of corn delivered to an AgriDigital subscribed elevator located in Arkansas by a large Mid-South farming group.
North East Arkansas based farming group and elevator Sustainable Ag, one of AgriDigital’s first North American customers, delivered and received the corn; its first of the season. Sustainable Ag and its farmers produce over 1.5 million bushels of rice, 500,000 bushels of corn and 500,000 bushels of soybeans annually.
President of Sustainable Ag, Mike Sullivan confirmed the deliveries stating, “we have been working with the AgriDigital team for the past three months in the leadup to harvest. Technology is a big part of our business these days and ensuring we have an efficient and effective digital solution to manage our grain from farm to our elevators and further down the supply chain is just the start. We have been on a journey for the past seven years taking our large-scale farming operation to the next level, and with the AgriDigital platform and its innovation in blockchain, this is exactly the partnership we have been looking for”.
Mr Sullivan continued, “with a focus on sustainability, we have made significant advancements in conservation, achieving a 50% reduction in water, 20% reduction in fertilizer and 50% reduction in methane production. Now, with AgriDigital, we want to deliver the digital trust and transparency consumers are crying out for”.
Sustainable Ag is currently processing around 75 deliveries a day using the AgriDigital platform.
”Our first transaction on US soil is an important milestone for us,” Emma Weston, co-founder and CEO of AgriDigital said. “Our vision is to digitize and de-risk agri supply chains on a global scale and expanding our customer base to North America, one of the world’s largest grain producers, is significant in achieving this. We said we would be launching in the North America in 2019 and we have”.
North America is an important part of the growth plan AgriDigital has been working towards for the past two years. “North America represents an enormous opportunity for us, the grains market is around 12 times the size of the Australian market. Launching into this market also helps us continue to grow and support our Australian customers, many of whom, are facing another difficult harvest ahead” said Ms Weston.
AgriDigital plans to open a local North American office later this year to support its growing customer base across the United States and Canada. The initial team on the ground will include sales, customer success and engineering staff and will be a mix of local and Australian employees. AgriDigital has been preparing for North American market entry for some time and has built up an extensive network of technology and industry partners as well as confirmed customer demand. “We have been planned and thorough,” said Ms Weston “we have boots on the ground supporting our early customers and we will continue to build out our team and invest in the region”.