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Asoyia Secures Venture Capital Funding
Date:5/1/2008

Soybean seed and oil company will focus on new business development of its

ULTRA low linolenic, trans fat-free products.

IOWA CITY, Iowa, May 1 /PRNewswire/ -- Asoyia has finalized an agreement with two key venture capital firms, securing $4 million to expand marketing, research and development of its ULTRA low linolenic soybean products. Asoyia is the innovator and leader in developing and providing the first and only commercially available soybean oils with the highest level of stability and zero trans fats per serving for the food industry. St. Louis-based Prolog Ventures led the round and was joined by LSP (Life Science Partners) of Boston.

Iowa-based Asoyia produces ULTRA Low Linolenic Soybean Oils (Asoyia-ULL) from the company's 1% ULTRA low linolenic soybeans. The innovative specialty soybeans keep the oil fresh and shelf-stable for two to three times longer than conventional oils thus eliminating the need for hydrogenation which creates trans fat. The FDA began requiring trans fat labeling on all packaged foods in 2006, fueling the food industry's demand for a viable non-hydrogenated oil alternative.

"The new partnership between Asoyia, Prolog and LSP is going to propel us from an established and growing entrepreneurial business into a major marketer of ULTRA low lin oil," said Greg Keeley, Asoyia CEO. "We have an incredibly good product and a demand that's been extremely strong due to the emphasis on health and wellness, the FDA's new labeling legislation, and the banning of trans fat containing oils in some communities like New York City. This will fund our passion for providing a viable, healthy alternative by giving us the working capital we need to bring the company to the next level of success."

Asoyia's ability to meet demand depends on the participation of farmers willing to grow a specialty identity-preserved soybean in lieu of commodity soybeans or corn. The infusion of funding will allow Asoyia's pr
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SOURCE Asoyia
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