Addressing the Challenges of Climate Change in Agriculture
Rising temperatures and increased drought conditions have made farming more difficult in areas that were once prime agricultural resources. For many farmers who rely on traditional methods and lack access to high-tech solutions, the need for adaptable and ready-to-use solutions is critical. This is where agritech companies like Iyris come in. Based in Riyadh and Delaware, Iyris provides agricultural solutions to help farmers navigate the challenges of climate change.
Iyris recently announced a $16 million Series A funding round, led by the San Francisco-based climate and sustainability fund Ecosystem Integrity Fund (EIF). The funding will allow Iyris to continue scaling its business and addressing the difficult problem of growing fresh produce in the face of climate change.
Unlike many other climate tech companies that focus on expensive and robust technologies, Iyris targets the low-tech and medium-tech world. The company’s products are designed for farmers who use protected agricultural methods like polyethylene covers, acrylic, shade nets, and screens to mitigate environmental impacts on crop production. These methods are more accessible and practical for widespread use.
Iyris originated from innovations developed at the King Abdullah University of Science and Technology (KAUST) in Saudi Arabia. The company’s flagship technology, called SecondSky, involves adding an additive to polyethylene manufacturing. This additive blocks near-infrared radiation, reducing heat while allowing the light plants need for photosynthesis to pass through. By using SecondSky, farmers can reduce cooling costs, water usage, and electricity consumption, leading to higher yields and healthier plants.
The technology has been successfully tested and proven effective in arid regions like the UAE, Egypt, and Morocco. However, as climate change intensifies, similar challenges are emerging globally. Major fresh produce growers in countries like the U.S., Portugal, Spain, and Mexico are now adopting Iyris’ technology to mitigate climate challenges and improve their crop production.
One of the key advantages of SecondSky is its ability to extend growing seasons. This attracts growers from arid regions who can continue producing when competitors cannot, allowing them to command higher prices and earn more money. The payback on purchasing SecondSky products is typically within a year, making it a cost-effective solution for farmers.
Iyris works with both large-scale international growers and smaller growers and farmers through manufacturing and distribution partners. The company sells its products across 11 countries and has seen significant growth in the first quarter of 2024.
With limited competition in the horticulture space, Iyris has positioned itself as a trusted provider of innovative agricultural solutions. By offering a drop-in solution that can be easily integrated into existing farming infrastructure, Iyris allows farmers to continue doing what they do best while improving their profitability and mitigating the effects of climate change.
As Iyris continues to expand its reach and product offerings, it aims to make farming easier and more sustainable for farmers around the world. The company plans to grow its customer base, expand into new regions, and increase the adoption of SecondSky technology in countries like India and China. With a global market of over $6 billion in recurring annual sales for greenhouse covers, Iyris is well-positioned to drive positive change in the agriculture industry.