ADM Leads $10.5M in Funding for Harpe Bioherbicide Solutions

Looking to support organic agriculture via new opportunities, North Carolina-based Harpe Bioherbicide Solutions is a tech company providing natural and sustainable herbicide solutions that expand farmers’ options by reducing, replacing, and synergizing with synthetic chemicals used in row and specialty crop production.

A shrinking base of arable farmland, tight supply of traditional agricultural inputs over the past five years, a rapid emergence of regenerative ag practices leading to a higher level of willingness by farmers to adopt new systems that can result in higher yields while being environmentally safe, and consumer sentiment calling for cleaner supply chains and less agrochemical usage have increasingly brought the biologicals category onto the radar of conventional global giants and investors, resulting in more significant funding rounds.

One such global giant is ADM, which has led an oversubscribed round gaining $10.5 million in funding for Harpe Bioherbicide Solutions. Follow-on investments in the round also came from iSelect Fund Management and Alexandria Investment Ventures as well as company leadership and private agricultural industry investors.

"Sustainability is a pillar of ADM's growth strategy and core to our purpose as a company, which is why we are excited to work with Harpe Bioherbicide Solutions to accelerate the introduction of new, nature-based herbicide options," said A.J. Todd, vice president of commercial development for ADM's mint business.

"ADM's unique position spanning the food and ag value chain gives us the opportunity to propel change in multiple ways,” explained Todd. “In this case, we are a world leader in mint production, and will be providing key inputs to Harpe Bioherbicide's innovative product.” Todd continued, “Simultaneously, we're rapidly ramping up our regenerative agriculture work, which benefits from environmentally friendly herbicides. We're excited about this new collaboration and look forward to the opportunity to bring our plant-science and sourcing capabilities together with Harpe's groundbreaking work."

Harpe Bioherbicide Solutions’ portfolio products feature new sites and modes of action, offering wide-spread control of broadleaf and grass seeds, or weeds. Additionally, a series of tailored Harpe premix formulations can improve control of tough-to-kill weeds, including those resistant to synthetic chemicals - facilitating the reduction and replacement of - or rotation with - synthetic herbicides used in row and specialty crop commercial and consumer markets.

"Through a series of all-natural herbicide formulations, our products will deliver new opportunities for organic and regenerative agriculture for pre, post and desiccation use patterns," noted Bill Buckner, CEO, Harpe Bioherbicide Solutions.

The company also expressed that the further development of crops tolerant to Harpe herbicide formulations will open the way for in-season use of its proprietary series of plant-based herbicidal active compounds, giving growers new tools for achieving higher yields of healthier crops.

"Harpe Bioherbicide Solutions exists to serve farmers on a global scale by developing novel and natural herbicide solutions to help mitigate increasing weed resistance challenges while seeking to advance sustainable practices in global food production," said Daniel Pepitone, COO, Harpe Bioherbicide Solutions.

"The strategic commitment and support of a global leader like ADM, along with further backing from existing investors, enables Harpe to advance our portfolio of novel, natural herbicides and related herbicide tolerant trait technology closer to the market, and closer to the farmers in need of new solutions."

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

*The content put forth by Global AgInvesting News and its parent company HighQuest Partners is intended to be used and must be used for informational purposes only. All information or other material herein is not to be construed as legal, tax, investment, financial, or other advice. Global AgInvesting and HighQuest Partners are not a fiduciary in any manner, and the reader assumes the sole responsibility of evaluating the merits and risks associated with the use of any information or other content on this site.