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Pivot Bio named to World’s Most Innovative Companies list
Published: Feb 20, 2019 7:27:30 AM
Awarded among the top ten in the Food category for developing an alternative to chemical fertilizer and improving environmental sustainability
SAN FRANCISCO – February 20, 2019 – 6:00 a.m. PT – Pivot Bio announced today it is named to Fast Company’s annual list of the World’s Most Innovative Companies in 2019. The company was recognized for its transformational work in agriculture, earning Pivot Bio the eighth spot in the Food category. Pivot Bio’s inaugural product, Pivot Bio PROVEN™, applies nitrogen to corn plants daily helping produce an abundant crop with lower energy use and less pollution than chemical fertilizers.
Pivot Bio has solved one of the biggest challenges of modern agriculture: developing the industry’s first sustainable nitrogen-producing microbe for corn that reduces the need for chemical fertilizer. Cereal crops require nitrogen daily throughout the growing season, yet much of today’s chemical fertilizer is washed away by heavy rains or volatilizes into the air, turning into pollution instead of feeding the plant. Pivot Bio’s new product to help farmers improve their profitability and sustainability.
“We are honored to be named by Fast Company as one of the World's Most Innovative Companies. It is a privilege to be part of such a prestigious group of companies that are transforming our future,” said Karsten Temme, Ph.D., CEO and co-founder, Pivot Bio. “We are on a journey to get our product in the hands of as many farmers as possible, as quickly as possible, to stop the environmental impact of chemical fertilizer pollution. This will not only improve the health of our planet but also improve financial outcomes for farmers.”
Worldwide, fertilizer-linked pollution is responsible for more than 500 dead zones and greenhouse gas emissions. A portion of chemical fertilizer decomposes into nitrous oxide and becomes a greenhouse gas 300 times more potent than CO2, making it responsible for about five percent of global warming.
“Pivot Bio is bringing transformational technology to the largely stagnant yet massive $212 billion fertilizer industry,” said Temme. “Farmers are demanding more innovative and sustainable solutions to use in fueling their crops, and we are delivering that exact solution to farmers today.”
Pivot Bio, an agtech startup, recently announced the performance results of Pivot Bio PROVEN™, the industry’s first sustainable nitrogen-producing microbe for corn, which outperformed chemical nitrogen fertilizer in the company’s 2018 national trials. Pivot Bio PROVEN™ consistently achieved better ROI and outcomes, including harvesting superior yields - a 7.7 bushel per acre advantage - when compared to relying solely on chemical fertilizer.
Nearly 11,000 on-farm and research trials were conducted across multiple states, demonstrating Pivot Bio’s microbes can reduce or replace chemical nitrogen, maximize yield potential and provide a strong return on investment for growers. Pivot Bio’s microbes recorded even stronger performance under these conditions with nearly a 17 bushel per acre average advantage against comparable fields using only chemical nitrogen fertilizer.
"Emerging startups always inspire us in pointing the way forward for where the innovation economy is heading,” said Fast Company deputy editor David Lidsky, who oversaw the issue with senior editor Amy Farley.
This year, Fast Company’s editors and writers sought out groundbreaking businesses across 35 industries in every region. Fast Company’s Most Innovative Companies issue (March-April 2019) is now available online here, as well as in app form via iTunes and on newsstands beginning February 27. Join the conversation by using the hashtag #fcmostinnovativ.
About Pivot Bio
At Pivot Bio, we believe in meeting the needs of the present without compromising the needs of future generations. Our unparalleled understanding of the crop microbiome will help create a future with cleaner water and air. We are dedicated to providing farmers with solutions, so they can grow high-quality, environmentally-responsible and sustainably focused food crops that help feed families worldwide. For more information, visit www.pivotbio.com and follow @pivotbio on Twitter.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies and thinkers on the future of business. Since 2011, Fast Company has received some of the most prestigious editorial and design accolades, including the American Society of Magazine Editors (ASME) National Magazine Award for “Magazine Of The Year,” Adweek’s Hot List for “Hottest Business Publication,” and six gold medals and 10 silver medals from the Society of Publication Designers. The editor-in-chief is Stephanie Mehta and the publisher is Amanda Smith. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
Contact: Natalie Schoen
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