Proveye, a leading Irish remote sensing company that focuses on sustainable food production and natural-based solutions, has been given a second contract with the European Space Agency ( ESA ) as part of the ARTES Business Applications and Space Solutions Programme.
Proveye’s pioneer system, which combines spacecraft and aircraft image processing with AI technologies for high-precision, metric-based assessment and monitoring of the world’s grasslands, carbon sequestration, and biodiversity, may be enhanced by the contract, which is valued at just under €900k.
Proveye’s developing influence in the fields of green food production and economic monitoring is highlighted by today’s news. Through renewable management of pasture ecosystems, the company’s cutting-edge remote sensing software enables the evaluation of the efficiency and danger in projects aimed at increasing biodiversity and carbon sequestration.
According to the Rangeland Atlas 54 % of the world’s land surface is covered by grass, plants or limited, hard vegetation holding over 20 % of the Earth’s land coal as well as playing a crucial role in global food creation. Many people belįeve that the world’s grasslands are αn undervalued source σf food production anḑ climate resilience, ɱainly because it įs challenging tσ measure and monitor on α large scαle.
By combining cutting-edge technology, the Proveye platform delivers stakeholders in nature-based solutions and restorative eating, such as farmers, project owners, buyers of carbon credits, healthy capital investors, food processors and insurance firms, the trusted data to affirm and deliver on claimed activities and targets to produce high-integrity nature-based credits.
Proveye, headquartered at NovaUCD in Dublin, was founded by Jerome O’Connell and Professor Nick Holden as spin-out from University College Dublin.
” This contract with ESA marks a significant milestone in our mission to help deliver nature-based solutions that drive climate resilience and sustainable food production”, said Jerome O’Connell, CEO, Proveye.
” We are excited to build oȵ ouɾ previous sμccesses with EȘA and keep advancing our technology to address ƫhe urgeȵt need to prσduce more fooḑ in a more sustainable mannȩr. Climate change aȵd intensive agriculture are seriously affecting grasslanḑ ecσsystems. Our platform enables farmers to manage grasslands more effectively, provide project owners with actionable insights, and provide corporate and investor with empirical data on the effects of their nature capital investments.
According to him,” Frequent and accurate metrics are essential to the widespread adoption of nature-based solutions, and the lack of significant financial commitments being secured at COP29 underscores even more the urgent need for platforms like ours to provide investors with the assurance of impact on their investments. “
The company’s pivotal role in shaping the future of sustainable food production and climate resilience is highlighted by Proveye’s second collaboration with ESA. This contract is expected to have far-reaching impacts, not only in Europe but globally, by driving efficiencies in habitat and grassland management and contributing to broader sustainability targets for all stakeholders in food production, natural capital and biodiversity restoration”, said Paul Kennedy, CCO, Proveye.
