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Business Briefs - September 6, 2017
Indiana fish farm’s new owner plans restarting production

ALBANY, Ind. (AP) — The new owner of an eastern Indiana fish farm says it plans to restart production there next year.

The (Muncie) Star Press reported Maynard, Mass.-based AquaBounty Technologies spokesman Dave Conley said the firm plans to use the facility to produce its genetically engineered salmon, for which it received federal approval in 2015.

Conley said its salmon grow to market size faster than conventional Atlantic salmon with 25 percent less food. AquaBounty expects to start production next spring, with its first harvest in 2019. It estimates growing 2.6 million pounds of fish a year.

One PRCA-sanctioned rodeo committee will win tractor

DULUTH, Ga. — AGCO Corp. announced the launch of Sowing Good Deeds, an initiative to raise awareness of the efforts of rodeo committees throughout North America and the positive impact they have in their local communities.

AGCO, a proud sponsor of the Professional Rodeo Cowboy Assoc. (PRCA) through its Hesston and Massey Ferguson brands, will award one Massey Ferguson tractor valued at more than $35,000 to a deserving rodeo committee at the PRCA Wrangler National Finals Rodeo (WNFR) in Las Vegas this December.

The application deadline for the Sowing Good Deeds initiative is Sept. 15, at 11:59 p.m. Eastern time. Interested rodeo committees can submit their application online by visiting http://hesston.com/sowinggooddeeds

A committee of judges selected by Hesston, Massey Ferguson and PRCA will evaluate the applicants based on three key criteria: community impact, innovation and adversity. Finalists will be announced during the WNFR. The winning committee will be recognized at the PRCA Awards Banquet Dec. 6 and on Hesston night at the WNFR on Dec. 9.

Iowa company receives OK to provide crop insurance

JOHNSTON, Iowa — Crop Pro Insurance, a new managing general agent (MGA) specializing in crop insurance, recently received Standard Reinsurance Agreement (SRA) approval as an MGA for an “A” rated insurance company from the USDA. The approval makes Crop Pro Insurance one of only 16 companies in the world eligible to participate in the Federal Crop Insurance Program.

The SRA status is one step in the company’s overall strategic vision to provide risk management solutions for both traditional and emerging agriculture markets. The Crop Pro Insurance team brings extensive experience in both the agriculture industry as a whole and the Federal Crop Insurance Program specifically.

The company will use its expertise in agriculture, technology and insurance to help growers adjust to changes in the agriculture industry and increase yields and revenue.

Veridian Credit Union joins the Ag Startup Engine effort
 
AMES, Iowa — The Ag Startup Engine (ASE), located at the Iowa State University Research Park, announced that Veridian Credit Union has joined the effort to bring education, mentoring and financing resources to Iowa entrepreneurs and startups focused on agriculture technologies.

Veridian was founded in agriculture when a group of John Deere employees chartered the credit union in Waterloo, Iowa, in 1934. The ASE effort was launched two years ago to help address two fundamental gaps that prevent agricultural startups and entrepreneurs from being more successful in Iowa: early seed stage investment and organized mentorship from successful Iowa and Midwest entrepreneurs.

Veridian joins Hertz Farm Management, Iowa Farm Bureau’s Renew Rural Iowa, Next Level Ventures, Summit Agricultural Group, Ag Leader Technologies, Ag Ventures Alliance and Peoples Co. as the eighth member of the ASE. Recently, the ASE announced investments in two Ames-based startups, Nebullam and Performance Livestock Analytics.

The ASE provides agricultural entrepreneurs a structured means of moving from a startup concept to a seedready business. Working in partnership with ISU’s Startup Factory Accelerator,
the program is implementing an infrastructure for mentoring, rapid prototyping, product development, financing and customer acquisition.

ABM awarded a competitive grant from Science Foundation

VAN WERT, Ohio — Advanced Biological Marketing (ABM) has been awarded a National Science Foundation (NSF) Small Business Innovation Research (SBIR) grant to conduct research and development work aimed at developing formulations of a new class of biorational chemicals that are based on chemical communicants from plant symbiotic fungi.
 
These new products are expected to provide season-long improvements in plant
productivity, including greater crop yields, enhanced root growth and resistance to
a variety of stresses, including drought. The products induce plants to use sunlight
more efficiently and thereby provide greater plant biomass.
The new products will augment ABM’s products based on advanced microbial
agents that colonize plant roots. They will permit new applications and add versatility
to the product line.
 
Once a small business is awarded a Phase I SBIR/STTR grant it becomes eligible
to apply for a Phase II grant. Small businesses with Phase II grants are eligible
to receive up to $500,000 in additional matching funds with qualifying third-party
investment or sales.

FDA approves medication for pain in a food-producing animal

WASHINGTON, D.C. — The U.S. Food and Drug Administration (FDA) announced
the approval of Banamine Transdermal (flunixin transdermal solution), an animal
drug approved for the control of pain associated with foot rot and the control of
pyrexia (fever) associated with bovine respiratory disease.
 
Banamine Transdermal is the first new animal drug approved in the United States
for controlling pain in a food-producing animal. Foot rot is a painful disease of the
foot in which the interdigital surface (the skin in between the two toes) becomes
irritated, inflamed and starts to decay.

Affected cattle can become severely lame and the disease can affect deeper
structures of the foot and leg if not treated. Although other therapies are available
for treating foot rot, there was no approved drug to control the pain associated with
this disease until now.

Banamine Transdermal is also approved for the control of pyrexia (fever) associated
with bovine respiratory disease in cattle. This can be caused by bacterial, viral,
fungal and/or parasitic pathogens. It affects the lower respiratory tract and lungs
(pneumonia) or the upper respiratory tract (rhinitis, tracheitis, and bronchitis) and
cattle typically present with fever.

The topical formulation of Banamine Transdermal is approved for use in steers,
beef heifers, beef cows, beef bulls intended for slaughter and replacement dairy
heifers under 20 months of age. It is not for use in beef bulls intended for breeding,
dairy bulls, female dairy cattle 20 months of age or older (including dry dairy cows)
or suckling beef calves, dairy calves and veal calves.
 
As this is a prescription medication, it can only be used by or on the order of a
licensed veterinarian. The application for Banamine Transdermal is sponsored by
Intervet, Inc.

Mesa Collaborative Kitchen and Pantre open in New Albany
 
NEW ALBANY, Ind. — Southern Indiana’s newest venue, Mesa Collaborative
Kitchen, showcases rock stars of the food scene. The state-of-the-art kitchen features
demonstrations by southern Indiana’s and Louisville’s established and aspiring chefs.
Guest chefs appear at special events and prepare 3-5 courses. As they create their
dishes, they explain their process, answer questions and talk with guests. Guests
purchase seats to the class online. At the class, beverage pairings are provided by
Mesa to complement the chef’s menu.

Kentuckiana’s highly-talented chefs will share their love for food with the public
and each other. In addition to the collaborative space, Mesa and Pantre also houses
a bookstore, a kitchen essentials boutique and offers to-go cooking dinners.
Owners Bobby and Ysha Bass have stocked the store’s “Pantre” with kitchen essentials
such as cookbooks, aprons, knife sets, rubs and spices and other nonperishables. They
will feature high-quality foods like salts, chocolates, olive oils and sugars. Mesa Collaborative Kitchen is located at 216 Pearl Street, New Albany. Learn more online at www.mesachefs.com 
9/7/2017