LEXINGTON, Ky. — Seven businesses, including five from Lexington, are winners of the first Bluegrass AgTech Development Corp incentive grants that are designed to encourage agtech and food-based businesses to locate in Kentucky.
“We want to become the international address of agtech businesses, and this is an exciting step forward,” Lexington Mayor Linda Gorton said.
Each applicant was able to apply for up to $100,000 of grant funding in this first year of the program. The seven grant recipients were awarded a combined total of $625,000.
Applicants were required to provide a 100% match. The program was open to registered, for-profit businesses currently located in or willing to establish a presence in Lexington or Kentucky, with an emphasis on startups and early-stage businesses.
Bluegrass AgTech announced the grants program last November. It received 29 applications and today announced that it has funded seven grants.
The winning companies are: HempWood; Iristrac; Lepidext Inc.; Parasight System Inc.; RedLeaf Biologics; Spirited Inc.; and Sunflower Fuels.
Lexington contributed $1 million to establish the grants and get the partnership started. The state also provided $1 million through the Kentucky Agricultural Development Fund.
Bluegrass AgTech is cultivating an innovation ecosystem for entrepreneurs and startups in the agricultural sector. Its partners include the City of Lexington, the Kentucky Department of Agriculture and its Kentucky Agricultural Development Fund, the University of Kentucky Martin-Gatton College of Agriculture, Food and Environment, and Alltech.
The partners said they are excited to see the program move forward.
“The vision for Bluegrass AgTech was developed over four years ago and the announcement of these awards is a major milestone,” said Dr. Nancy Cox, vice president of land-grant engagement and dean of the Martin-Gatton College of Agriculture, Food and Environment.
Through the challenge grant program, Bluegrass AgTech is connecting agricultural innovators with both public and private funding sources and incentives, attracting new agri-food and agri-business companies to Kentucky, boosting the economy, and unlocking a more affordable, nutritious and environmentally sustainable food future for Kentucky and beyond.
“Agriculture plays a fundamental role in not only producing food, but also preserving the planet. Funding innovative agtech entrepreneurs is critical to achieving this mission – and to helping transform Kentucky into the agricultural technology capital of the United States, just as my father, Dr. Pearse Lyons, envisioned years ago,” said Dr. Mark Lyons, president and CEO of Alltech, a global company focused on improving the health and performance of people, animals and plants through nutrition and scientific innovation. “These first seven challenge grant winners will help Bluegrass AgTech foster an innovation ecosystem in Kentucky, paving the way for the development of technologies that will be highly relevant to both our traditional agriculture sectors and those that will emerge in the future.”
Bob Helton, executive director of Bluegrass AgTech Development Corp., said the challenge grants provide incentive funding, valuable resources and promotional opportunities. Selected grant recipients will also be offered resource support, such as mentorship, referrals to professional services, connections to local growers and research teams, and other business development assistance.
Jonathan Shell, Kentucky Commissioner of Agriculture, said, “The Bluegrass AgTech grants empower innovators and entrepreneurs, cementing Kentucky’s leadership in agricultural innovation.”
Here are mini-profiles of the seven companies.
Parasight Systems, Inc.
Parasight System is the world’s only push-button fecal egg count system for veterinary clinics. Provides instant imaged results you can email with your recommended treatment protocol.
- Headquarters: Lexington, Kentucky
- Website: https://www.parasightsystem.com/
- President/CEO: Eric Hauck, president, CEO and co-founder
- Contact information: info@parasightsystem.com | (833)233-7278
RedLeaf Biologics
RedLeaf Biologics is a biotechnology agtech company combining proprietary plant genetics and extraction processes to develop a range of phytochemical extracts with valuable applications in health, cosmetics, wellness, and nutrition.
- Headquarters: Lexington, KY
- Website: https://www.redleafbiologics.com/
- President/CEO: Jordan Wood, Chief Executive Officer
- Contact information: info@redleafbiologics.com
Hempwood
HempWood is committed to providing healthy building materials that are good for the environment, and its users. HempWood is made via a patented process that utilizes bio-mimicry to transform hemp fibers and protein based bonding agents into a viable substitute for anything solid oak can be used for.
- Headquarters: Murray, Ky.
- Website: https://hempwood.com/
- President/CEO: Greg Wilson, Founder
- Contact information: (240) 291-0120 | gwilson@hempwood.com
- Other relevant information (awards received, accreditations, notable articles):
- https://news.ca.uky.edu/article/%E2%80%98-field-flooring%E2%80%99-%E2%80%93-hempwood-university-kentucky-campus
Iristrac / eyeD
Iristrac™ provides horse owners with a painless, non-invasive method of identification and a web platform and database to store and access their horse’s IDs and other records. The primary product of Iristrac is a patented equine iris scanner.
- Headquarters: Prospect, Ky.
- Website: https://iristrac.com/ | https://eyed.com
- President/CEO: Charles Buddeke, President | James Cambier, Chief Technology Officer
- Contact information: charlesbuddeke@iristrack.com | (502) 724-4859
- Other relevant information (awards received, accreditations, notable articles): https://www.bizjournals.com/louisville/stories/2009/10/19/story4.html
Lepidext, Inc.
Lepidext discovers, develops and commercializes safe and effective bioinsecticides to control lepidopteran pests in food and fiber crops. The result of their technology delivers improvements in sustainable food production and a positive impact on environmental health parameters by avoidance of use of alternatives synthetic insecticides.
- Headquarters: Lexington
- Website: https://www.lepidext.com/
- President/CEO: Bruce Webb, Ph.D., Founder & President
- Contact information: Lepidext@gmail.com
Sunflower Fuels
Sunflower Fuels provides bio-based feedstocks to the power and refining industries. Sunflower Fuels’ mission is to harness the untapped potential of people and land in rural areas to grow energy crops that will extract carbon from the air and power the US economy.
- Headquarters: Lexington, Ky.
- Website: https://www.sunflowerfuels.com/
- President/CEO: Gabrielle Blocher, CEO
- Contact information: gblocher@sunflowerfuels.com
Spirited Biomaterials
Spirited Biomaterials create Polyhydroxyalkanoates (PHA), a scientifically proven fully biodegradable plastic substitute that can be used as a direct replacement for the look and feel of traditional petroleum-based plastics. It is a sugar polymer that is naturally found on the Earth and in our bodies which is why it can be broken down so easily by the microorganisms in the soil and doesn’t pollute our planet.
- Headquarters: 354 E. Main St Lexington, KY 40507
- Website: https://spiritedbio.com/
- President/CEO: William P. Meehan, Jr., CEO/Co-Founder Spirited
- Contact information: bill@spiritedbio.com | (412) 251-2470
