With an additional round of financing in hand, agricultural technology company Cool Planet has hired an executive to oversee further development and marketing of “CoolTerra,” a soil amendment that saves water and fertilizer, as well as sequestering carbon, according to a news release from the Colorado-based company.
As Cool Planet’s newest manager, James Loar will lead the company’s biocarbon business. Current investors, including Northbridge Venture Partners and Yung’s Enterprise, a Hong Kong firm, provided the new round of financing.
According to its news release, Cool Planet is “commercializing a technology to create green fuels and biocarbon in ways that can change the world for good.”
Loar brings more than 25 years of experience in the crop inputs sector to Cool Planet. He worked most recently with Wilbur-Ellis, the nation’s fourth-largest agricultural retailer, where he served as vice president of operations for its $2.1 billion agriculture division.
“Jim is a well-known, respected leader in the agriculture industry and brings decades of experience to Cool Planet as we continue to commercialize our biocarbon business,” said Cool Planet CEO Howard Janzen.
The company’s “CoolTerra” product promotes crop growth and soil health – thus reducing the need for fertilizer – in addition to conserving water, according to Cool Planet. The “transformational” technology will be used in a number of industries, the company says, including landscaping.