New Software Monitors Water Risk for California Agriculture
AQUAOSO Technologies PBC, a software company that helps customers identify, understand, and monitor water supply risks has officially unveiled their Water Risk Intelligence Tools for the agricultural economy. The platform uses data science and machine learning to provide meaningful insight into water data that has previously been inaccessible.
Designed specifically to meet the needs of growers, banks, investors, and other agricultural professionals, the AQUAOSO Water Risk Intelligence Tools allow users to identify, quantify, report, and monitor water supply risks across the California agricultural economy. The platform will ultimately provide a comprehensive set of tools to evaluate and monitor water risk around the globe. The Water Risk Intelligence Tools are currently in use by more than a dozen customers across California, monitoring data sources and identifying potential water risk on more than $30 Billion of agricultural assets.
“This platform is a significant step forward to helping our customers make more informed decisions around water risk by delivering detailed, transparent and secure information needed to understand water risks associated with specific parcels of land,” said AQUAOSO’s CEO, Founder, and 20-year leader in the water sector, Christopher Peacock. “We have the only complete platform that assembles data to quickly and accurately identify the current state of water risk for agricultural land in California.”
AQUAOSO provides on-demand research and mapping tools for agricultural operations, lenders, appraisers, real-estate brokers, lawyers, insurance companies, water district managers, groundwater sustainability agencies, governmental bodies, and researchers. Multiple stakeholders can finally access the data necessary to understand water-related risks for operating loans, real estate transactions, source water planning, and farm water budgets.
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Gary Sawyers, a Principal at New Current Water and Land, LLC, an expert land and water consultancy said, “Agriculture and water have become very complex and volatile. AQUAOSO’s platform will provide a comprehensive set of data, analysis and reporting for growers, investors, and lenders in California as part of their management and due diligence efforts.”
“The AQUAOSO Water Risk Intelligence Tools provide users with numerous options for reporting and mapping,” Peacock said. “When we combine the dozens of data sets we have acquired with our own proprietary research and analysis, customers can quickly access the data that allows them to assess their water risks, saving them a significant amount of time and money.”
“AQUAOSO does a very good job of pulling together information from many disparate sources into a format that allows for efficient review of data necessary for assessing water risk,” added John Barcelos, Senior Vice President – Chief Risk Officer at Farm Credit West.
AQUAOSO Water Risk Intelligence Tools also save agricultural appraisers hundreds of hours of research time each year. “We are excited about the opportunity to partner with AQUAOSO as they continue to develop research tools that help our appraisers and farm managers navigate the ever increasing complexity of water in California,” said Dan Whisenhunt, the current President of the California Chapter of the American Society of Farm Managers and Rural Appraisers.
AQUAOSO recently published their whitepaper, Lending A Hand To California Agriculture. Impacts of SGMA on agricultural land and lending, which has become required reading for a number of lending institutions.
“There are significant shifts in the ways water is being allocated,” said Peacock, “and we are proud to be a trusted partner to customers who understand that water risk must be managed today, not in the future.”