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Orange start-up gets $9.3 million to help farmers "boost yield per acre"
February 15, 2023
By Peter Holmes
Farmers will be able to "boost their yield per acre" following a $9.3 million federal government investment in Orange-based start-up Loam Bio, according to independent Calare MP Andrew Gee.
“In a humble-looking shed on the outskirts of Orange, you’ll find a team of top scientists looking at how soil can help farmers earn some extra dough, and give the planet a bit of a hand, too,” said Gee in a statement.
The shed is the headquarters of Loam Bio, which Gee described as "the second biggest soil analysis lab in Australia".
He said the company's "groundbreaking" research and development on seed treatments were "improving soil health, increasing water retention in the soil, and encouraging the nutritional uptake of their crops".
“The seed treatment also enables the soil to absorb more carbon, enabling farmers to participate in carbon markets," he said.
"This means that through drought or through flood, farmers will be able to earn income from their land through carbon farming.
“The capture and storage of carbon in soil also gives our planet a bit of a hand by reducing levels of CO2 in the atmosphere."
Freed from the shackles of being a member of the federal National Party, Gee praised the Albanese Labor government for choosing Orange.
Gee visited Loam Bio on Friday with Labor senator Deborah O'Neill.
"I was very impressed with what I saw there during my visit," he said. “This is a game-changing opportunity for our local farmers and our country."
O'Neill said in a statement: "The diverse, highly skilled and intensely motivated team are making real progress in the agriculture space. Loam’s technologies have applications across the agriculture and climate sectors."
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