Austin, TX (PRWEB) August 27, 2014
Green & Grow Inc. (GGI) has raised an additional $6 million in Series B funding and secured Otter Capital as a significant new partner. Otter Capital’s expertise and investment capital will accelerate commercialization of GGI’s Agriplier™ technology, building on recent compelling field trial results across multiple crop types.
“Since our first meeting, we have been impressed with Otter Capital’s knowledge and commitment to the biological product space,” said Alan Sobba, President and CEO of GGI. “We look forward to John’s valuable input and guidance as we work together to complete the commercialization of our exciting technology.”
GGI’s range of Agriplier™ products is based on non-living, non-toxic, microbe derived by-products which contain specific metabolites and stimulants that significantly improve many crops. In the 2013 Independent Professional Seed Association (IPSA) trials, GGI products were the top performing yield enhancement seed treatment products across both corn and soybean, increasing yield over the current commercial seed treatment package. Independent researchers also observe visual improvements in early season plant vigor. Similar results have been demonstrated across a wide range of crops and geographies. The compatibility of Agriplier™ products with both existing chemical and living biological products is also a key differentiator, which will simplify the adoption of the technology.
“I am excited by the potential for selected biologically derived products to make a significant impact in the agriculture industry and the 2013 Green & Grow field trial results illustrate that its technology has already made the critical leap from the lab to achieving success in the field,” said John Pasquesi, Managing Member of Otter Capital and former Chairman of the Board of AgraQuest. “I look forward to working with the GGI team to optimize the delivery of their technology to market and to continue to build the business.”
GGI is currently mid-way through the process of working with industry partners, distributors and end-users to bring the Agriplier™ technology to market. Otter Capital’s investment and experience with this process will significantly assist GGI in selecting the most appropriate route to market and in completing this process.
GGI was represented by Sidley Austin LLP in the transaction, and Otter Capital was represented by Greene Radovsky Maloney Share & Hennigh LLP.
About Otter Capital
Otter Capital has a strong track record developing leading edge agriculture and food production companies. Otter was an early and consistent investor in AgraQuest, a leading biopesticide company. In 2012, Bayer CropScience acquired AgraQuest for $425 million plus earnouts. John Pasquesi previously served as Chairman of the Board of Directors of AgraQuest. More recently, Otter Capital invested alongside Khosla Ventures in a $15 million funding round for BioConsortia, Inc. - an agricultural biotechnology company.
Otter Capital was founded by John Pasquesi to make a variety of private equity investments. Prior to founding Otter Capital in 2001, he was a Managing Director and member of the Executive Committee of Hellman & Friedman LLC - a private equity investment firm. Prior to joining Hellman & Friedman in 1987, Pasquesi was associated with Golder, Thoma & Cressey - a Chicago-based private equity firm.
For more information on Otter Capital, please visit http://www.ottercapital.com.
About Green & Grow Inc.
Green & Grow Inc. (GGI) is dedicated to developing and commercializing biologically derived agricultural products.
Its first range of Agriplier™ products is based on non-living, non-toxic, microbe derived by-products which contain specific metabolites and stimulants that significantly improve many crops.
Agriplier™ products can be easily integrated into multiple seed treatment processes, as well as utilized as a soil amendment. As a non-living product, a key differentiator of Agriplier™ is that it can be easily integrated as an additive solution to both existing chemical and living biological products.
GGI has recently developed a line of OMRI listed products which utilize the Agriplier™ technology. These are being rolled out for ongoing trials with a small number of early adopters.
For more information about GGI and its technologies, please visit http://www.greenandgrow.com.
Agriplier™ is a registered trademark of Green & Grow Inc., a Delaware corporation.
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