Emeryville, CA — Clif Bar & Co. has setup the Clif Ag Fund, which aims to help increase the economic resilience of organic farmers in its supply chain, the snack bar maker reports.
Clif Ag’s initial program will help finance a $10 million wind energy program that can provide up to 80 organic farmers with long-term energy cost savings by hosting on-farm wind turbines. Clif Bar is providing the initial seed funding of $500,000, with larger investors expected to cover the remaining $9.5 million.
The wind energy program is a partnership with the snack bar maker, Grain Millers, Inc. and PURIS (two of its major ingredient suppliers) and United Wind, Inc.
United Wind will lease small wind turbines to farmers in the program, which will provide electricity needs at a fixed monthly rate for 20 to 30 years, Clif Bar reports. The project will focus on farms in Iowa, Minnesota, North Dakota and South Dakota.
“Farming has thin margins, so it’s important to take advantage of opportunities to reduce costs or improve efficiency,” says Matthew Dillon, senior director of agricultural policy and programs for Clif Bar. “The goal of the Clif Ag Fund is to invest in projects that will help our farmers be more economically resilient in producing organic crops. That benefits farmers, their communities and Clif Bar.”