Why Mike Cannon-Brookes invested in this mushroom

The Australian Financial Review04-29

“You see three mushrooms, (but) how many fungi are there? Just one; it’s entirely likely that this is all one organism,” she says of the way a single mycorrhizal fungus can stretch its underground ...

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Just one; it’s entirely likely that this is all one organism,” she says of the way a single mycorrhizal fungus can stretch its underground ...</p>\n\n<a href=\"https://www.afr.com/companies/agriculture/why-mike-cannon-brookes-invested-in-this-mushroom-20240411-p5fj8i\">Source Link</a>\n\n</div>\n","source":"afr_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Mike Cannon-Brookes invested in this mushroom</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Mike Cannon-Brookes invested in this mushroom\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-29 03:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.afr.com/companies/agriculture/why-mike-cannon-brookes-invested-in-this-mushroom-20240411-p5fj8i><strong>The Australian Financial Review</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>“You see three mushrooms, (but) how many fungi are there? Just one; it’s entirely likely that this is all one organism,” she says of the way a single mycorrhizal fungus can stretch its underground ...</p>\n\n<a href=\"https://www.afr.com/companies/agriculture/why-mike-cannon-brookes-invested-in-this-mushroom-20240411-p5fj8i\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XAO.AU","symbol_name":"标普/澳交所 普通股指数","start_time":0,"source_url":"https://www.afr.com/companies/agriculture/why-mike-cannon-brookes-invested-in-this-mushroom-20240411-p5fj8i","article_id":"2431993390","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2431993390","pubTimestamp":1714330800,"sourceInfo":{"source_id":"afr_stock","name":"The Australian Financial Review"},"weMediaInfo":null,"summary":"“You see three mushrooms, (but) how many fungi are there? Just one; it’s entirely likely that this is all one organism,” she says of the way a single mycorrhizal fungus can stretch its underground net","collect":0,"end_time":0,"defaultTopTitle":"afr.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"XAO.AU":"标普/澳交所 普通股指数","XKO.AU":"标普/澳交所 300指数","XJO.AU":"标普/澳交所 200指数"},"translate_title":"为什么Mike Cannon-Brookes投资这个蘑菇","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XAO.AU":0.9,"XJO.AU":0.9,"XKO.AU":0.9},"content_text":"“You see three mushrooms, (but) how many fungi are there? Just one; it’s entirely likely that this is all one organism,” she says of the way a single mycorrhizal fungus can stretch its underground network of root-like threads across a large area, but only be visible at surface when it sprouts mushrooms.Mycorrhizal fungi strike symbiotic relationships with trees and therefore play a crucial role in helping the larger plants grow.Mike Cannon-Brookes. Flavio BrancaleoneLewien’s employer, Rhizocore Technologies, aims to become the world’s premier provider of fungi to industries like farming and forestry, which will plant billions of trees in coming decades as reforestation becomes a key weapon in the race to net-zero.Australian flavourRhizocore is a British company, but has taken on an Australian flavour over the past year after Mike Cannon-Brookes’ private investment vehicle Grok and Dan Fitzgerald’s ReGen Ventures bought stakes in the company.AdvertisementArrival of those Australian shareholders triggered Rhizocore to expand down under, where it now employs people like Lewien to go foraging in forests to collect mycorrhizal fungi specimens for cultivation and commercialisation.Rhizocore’s flagship product is a pellet that contains an extract of a mycorrhizal fungus that was collected by people like Lewien.The pellet is designed to be planted with a tree sapling in the hope the fungi in the pellet will form a symbiotic relationship with the tree and help it grow.The two organisms provide each other with nutrients that they cannot easily source themselves, and together they improve their chances of surviving and thriving.Toby Parkes got the inspiration for Rhizocore while working at the Millennium Seed Bank south of London.  The pellets are particularly helpful on old farmland or former forestry land, where degraded soils have often become devoid of naturally occurring mycorrhizal fungi.Advertisement“Typically, a forestry industry in Europe and the United Kingdom will have somewhere between a 15 per cent to 25 per cent mortality rate of the trees [they plant] in the first 10 years. We’ve been able to show that we can drop that to around 3 per cent,” Rhizocore founder Toby Parkes says of his pellets’ impact.“On top of that, we’re expecting to see growth-rate improvements in the first 10 years of the trees, on average about 20 per cent. But it’s very, very specific to conditions and so basically, the poorer the soils on the site, the greater the impact.”Without mycorrhizal fungi, trees would be less capable of performing their incredible range of environmental services; most notably the production of oxygen and the absorption of atmospheric carbon dioxide.The latter feature is increasingly important, given the heavy reliance on trees to remove carbon from the atmosphere as part of efforts to avoid the worst impacts of climate change.ReforestationTree planting has dominated the first 11 years of Australia’s carbon credit scheme; about 55 per cent of all Australian Carbon Credit Units (ACCU’s) issued in those 11 years were for projects that added vegetation to the landscape.AdvertisementThose projects received 78.8 million ACCU’s, according to the Clean Energy Regulator; equivalent to storing about 83 million tonnes of carbon in vegetation.Billions of tonnes of additional carbon will need to be stored in trees in the next 26 years, given most of the net-zero pathways published by credible agencies rely on reforestation (planting trees where they previously grew) and afforestation (planting trees where they did not previously grow) to remove carbon from the atmosphere.In its 2018 report on pathways to keeping global temperature rises to 1.5 degrees, the Intergovernmental Panel on Climate Change (IPCC) suggested reforestation and afforestation could store between 0.5 billion and 3.6 billion tonnes of carbon per year.The IPCC ranked reforestation and afforestation as the cheapest method of land-based carbon removal, but also the method that required the most land and water to deliver.Sequoia Lewien and Rhizocore’s Australian general manager, Mark Adams, find a scleroderma. Eamon GallagherEven though far more efficient methods of capturing and storing carbon have been developed by humans – such as the metal organic frameworks created by Deanna D’Alessandro’s team at the University of Sydney – tree planting remains the most socially and politically acceptable way of storing carbon.AdvertisementUS President Joe Biden has ordered the US Forest Service to plant 1.2 billion new trees by 2031.The European Union has vowed to plant 3 billion additional trees by 2030, while the Chinese government has promised to “plant or conserve” 70 billion trees by 2030.About 31 per cent of the world’s land surface – equivalent to 4.06 billion hectares – is covered by forests or trees, according to the 2022 State of the World’s Forests report published by the United Nations Food and Agriculture Organisation (FAO).The FAO report said 2.2 billion hectares of degraded land was potentially available for restoration in future.Of those opportunities for reforestation and afforestation, the FAO said between 0.9 billion and 1.5 billion tonnes of carbon abatement per year could be achieved “cost effectively”.Companies embrace treesAdvertisementCompared to other carbon-capture technologies, tree planting has the added bonus of creating more habitat for animals, which is increasingly in focus as big companies like BHP pledge to become “nature positive” even if lawmakers such as the Albanese government have watered down plans to legislate for more biodiversity.BHP has vowed to have at least 30 per cent of the 6.5 million hectares of land it manages switched to conservation, restoration or regeneration by 2030.Rio Tinto, which is being challenged by a Norwegian investor over its 22 per cent stake in the Amazonian bauxite mine it shares with Glencore and South32, has established a dedicated team to find “nature-based solutions” on the 4 million hectares of land it manages globally.Grok head of ventures Lucinda Hankin says Rhizocore’s focus on reforestation and large-scale carbon storage hits on the key themes the investor tries to work with.“We see major potential for the company’s technology to be adopted here in Australia where there is demand for soil rejuvenation and stronger tree growth to support environmental resilience in the face of increased natural disasters, particularly extreme drought events,” she says.Parkes reckons companies will conduct their own tree planting schemes to ensure they can offset their carbon footprints without being held hostage to volatility in carbon prices.Advertisement“These tend to be large corporates that are buying areas of land to plant trees for generating carbon units to offset their own business emissions,” he tells Tech Zero.“They’re projecting that the price of carbon could get to a point where it just makes more economic sense for them to do it in-house, rather than be buying offsets from a kind of global market.“I expect this type of organisation to become potentially our largest customer in the 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