Propagate Awarded $24.6M to Advance Agroforestry, Reforestation for Working Farms
A powerful coalition of sustainable agriculture and agroforestry organizations, led by Propagate, is proud to announce a new investment by the Natural Resources Conservation Service (NRCS) under the Regional Conservation Partnership Program (RCPP) to expand agroforestry and reforestation efforts across the Mississippi River Basin. This multi-year program will enable a team of partners to plant productive trees on 3,500 acres of farmland in 5 key states. These projects will decrease soil erosion, increase water quality, and increase biodiversity, contributing to farm resilience and supporting rural economies.
Record Investment in Private Lands Conservation in 2024 Thanks to Inflation Reduction Act
In fiscal year 2024, the U.S. Department of Agriculture's (USDA) Natural Resources Conservation Service (NRCS) made over $3 billion available from the Inflation Reduction Act (IRA) for climate-smart agriculture and forestry mitigation activities, in addition to the $2 billion available from the Farm Bill for all conservation activities. The agency obligated 97.6% of all available fiscal year 2024 IRA conservation program financial assistance funds, or more than $1.6 billion, to farmers, ranchers, and forest landowners across America.
Sola Gratia Farm, Proofing Station Partner to Strengthen Local Food Access in Urbana, IL
Proofing Station has awarded a long-term, low-interest loan to Sola Gratia Farm, a 29-acre produce farm serving communities in the Champaign-Urbana region of east central Illinois. This investment is Proofing Station's third from its impact-first fund aimed at supporting small and mid-sized food enterprises in the Midwest. The $750,000 debt investment, structured as a nine-year loan, supports construction of a new on-farm building that will be used for washing and packing produce and educational programs, as well as storage and office space.
Investing in a Different Kind of Paradise: Catalyzing Hawaii's Sustainable Food System
Founded in 2013 as the first social enterprise accelerator in Hawaii and the first Native-led accelerator in the U.S., Hawaii Investment Ready (HIR) has been at the forefront of place-based and culturally-grounded investment strategies in Hawaii. HIR also partnered with Mission Driven Finance to launch Hawaii's first catalytic capital debt fund designed to fill funding gaps and better leverage philanthropic resources. By fostering collaboration and pooling resources, HIR enables high-leverage solutions that address our food systems' unique challenges.
Restoring a Cornerstone of the Local Grain Economy
The Craft Millers Guild, established in 2020, aims to provide a community for a new generation of millers who draw inspiration from historic practices and try to help restore regional grain economies that have been lost to industrialization. Through networking, education, and advocacy, the group hopes to help small millers get established and grow their share of the market.
$2B to Strengthen Specialty Crops Sector, Expand Crop Storage for Producers
Agriculture Secretary Tom Vilsack announced the creation of new programs that will help farmers who grow fruits, vegetables, and nuts overcome market barriers for their products, and help producers access necessary pre-market storage for their crops following severe weather events, including recent hurricanes. Specifically, the new Marketing Assistance for Specialty Crops initiative will provide $2 billion to assist specialty crop growers in maintaining a strong domestic supply and expanding market opportunities for their crops.
Closed Loop Partners Doubles Down on Investment in Earthodic, Advancing Coating Alternatives for Paper Packaging
Closed Loop Partners' Ventures Group announces its follow-on investment in Earthodic, a Brisbane-based biotechnology company creating recyclable bio-based coatings for paper packaging. This is Closed Loop Ventures Group's second investment in Earthodic, supporting the company's expansion into the U.S. The $4 million seed funding round was led by FTW Ventures, with participation from existing investors Closed Loop Partners' Ventures Group, Tenacious Ventures and Investible, and new investors Circulate Capital, Queensland Investment Corporation, UniQuest Fund, Significant Capital Ventures, Branch Venture Group and Redstick Ventures.
CoBank's New Loan Signals a New Wave of Sustainable Finance in Agriculture
A new sustainability-linked loan announced by CoBank — one of the largest agricultural credit providers in the U.S. — signals that major financial institutions are looking to direct more financing toward their customers' sustainability efforts in innovative ways. CoBank's first sustainability-linked loan will provide Heartland Co-op with a slight interest rate reduction on its operating line of credit if the cooperative achieves goals to expand agricultural water quality practices with farmers.
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