Pivot Bio’s N-OVATOR Program Named to TIME’s List of the Best Inventions of 2024
October 31, 2024 Pivot Bio, a leading sustainable agriculture company, was honored today on TIME magazine’s 2024 list of the Best Inventions, which features 200 extraordinary innovations changing our lives. The list recognized Pivot Bio’s N-OVATOR program for pioneering a new way to financially reward farmers for the environmental benefits they deliver.
To compile this year’s list, TIME solicited nominations from TIME editors and correspondents around the world, and through an online application process, paying special attention to growing fields—such as health care, AI, and green energy. TIME then evaluated each contender on several factors, including originality, efficacy, ambition, and impact.
“We thank TIME, its editors, and contributors who picked Pivot Bio for this incredible honor. It is, first and foremost, a recognition of the incredible impact our farmers are making as they lead agriculture forward,” said Chris Abbott, Pivot Bio’s chief executive officer. “We also want to thank our corporate partners, across the food and beverage, consumer packaged goods and fuel industries, for making this innovative program possible.”
By the end of the year, Pivot Bio’s N-OVATOR program will have paid over $13 million to farmers, since its launch in 2022, for using our next generation technology to elevate nitrogen performance, and ultimately, yield. The N-OVATOR program provides annual payments to farmers based on their replacement of synthetic nitrogen with Pivot Bio’s microbial source of nitrogen, with some participants receiving payments that lower their fertilizer costs by 50%.
“We have made a commitment to our customers to deliver the highest performing, lowest cost and most sustainable source of nitrogen,” said Abbott. “Our partnerships pay farmers a premium on their commodities for the environmental benefits they deliver through the use of our microbial source of nitrogen, further reducing the cost of nitrogen fertilizer.”
Looking ahead, Pivot Bio aims to expand the N-OVATOR program by exploring opportunities in new geographies and crops and additional value chain partnerships. The company is also developing next-generation products that could replace even higher amounts of synthetic nitrogen, potentially increasing the benefits for both farmers and the environment.
This award comes on the heels of several high-profile recognitions for the company, including MIT Tech Review’s 2024 list of the 15 climate tech companies to watch, a 2024 S2G/THRIVE top 50 Ag Tech company, and Congruent Ventures and Silicon Valley Bank’s 50 by 2050 list of pioneers in carbon reduction.
See the full TIME list here: time.com/best-inventions-2024.
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