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Indigo Ag names new CFO
Sustainable agtech company Indigo Ag has named former Alibaba executive Pedro Langa to be its next chief financial officer as the company works to streamline operations after its valuation took a nosedive late last year.
Langa was CFO of Alibaba’s supermarkets division from 2017 to 2020, according to his LinkedIn, and he helped build up the China-based, e-commerce company’s high-tech grocery business Freshippo. Most recently, he was interim CFO for circular tech company Alchemy Global Solutions.
Pedro Langa brings over two decades of finance experience to Indigo built across a variety of industries including food and agriculture. His key accomplishments include securing substantial funding for rapid business growth, leading successful mergers and acquisitions, and driving financial transformations that enhanced profitability in global markets, according to a release.
“The appointment of Pedro Langa is another big step forward in Indigo’s development, path to profitability, and realization of the enormous potential of this company,” Indigo Ag CEO Dean Banks said in a statement. “He is a very experienced CFO with an outstanding record of accomplishment to help guide Indigo through our next phase of growth.”
Banks, former Tyson Foods President and CEO, became Indigo’s chief executive in May to help turnaround the company after reports surfaced that its valuation plummeted 94% in November 2023. In addition to revamping its leadership team, Indigo also announced it would split its business into two units.
Ohalo breeds a self-pollinating almond variety
Gene-editing startup Ohalo Genetics has developed a self-pollinating almond variety, reducing the need for farmers to rely on commercial hives and trees for cross-pollination.
The FruitionOne, a self-fertile Nonpareil almond variety, eliminates the genetic trait that inhibits self-pollination, according to a release. Nonpareil almond trees cannot pollinate themselves, requiring farmers to plant a second almond variety in their orchard for cross-pollination.
Ohalo’s self-fertilizing almonds would allow farmers to dedicate more of their orchards to crops while providing other benefits, including more reliable yields and improved profits.
“The U.S. almond industry is under increasing pressure to meet growing demand for high quality almonds while growers are challenged to consistently meet their financial needs and consumers are demanding more sustainable practices,” Ohalo CEO Dave Friedberg said in a statement. “FruitionOne offers a powerful solution enabling higher productivity with fewer resources, benefiting consumers, growers, and the environment.”
FruitionOne completed its regulatory status review process and will be available for early orders in 2026, according to a release. Commercial deliveries will begin in 2027, with the first FruitionOne trial orchard plantings currently underway in California.
USAID commits $57M to agtech innovation
The United States is investing $57.4 million to advance agtech solutions that address global food insecurity and climate change.
The investment, made through the U.S. Agency for International Development, will primarily support Feed the Future Innovation Labs, the government’s global hunger initiative. More than $38 million will go toward the lab network, which convenes university experts to research agriculture’s most pressing problems from climate change to disease outbreaks.
The funding paves the way for two new labs. Kansas State University will lead a new Climate Resilient Sustainable Intensification lab to research technologies that increase agricultural productivity “on less land with fewer environmental tradeoffs,” according to a release. Washington State University’s new Veterinary Vaccine Delivery lab will accelerate the development of livestock vaccines.
Existing labs also received new funding, including Cornell University’s World Coffee Research lab and a partnership between University of California, Davis, and the University of Florida that addresses poultry disease through advances in chicken breeding.
USAID said the remainder of the funding supports a variety of smaller awards and contributions. For example, the agency is awarding funds to accelerate development of disease-resistant wheat and contributing to the Global Crop Diversity Trust to increase availability of climate-resilient crops.