CHARLOTTESVILLE, Virginia – AgroSpheres announces its selection as an awardee for the 2018 Research Commercialization Award. This distinction is supported by the Center for Innovative Technology’s (CIT) Commonwealth Research Commercialization Fund (CRCF). The mission of this fund is to accelerate innovation and economic growth in Virginia by advancing solutions to important state, national, and international problems through technology research, development, and commercialization. Since its inception in 2012, the CRCF has awarded funding to over 300 projects from around the commonwealth on topics ranging from data analytics to life sciences for a total of $25 million in funding. In 2018, AgroSpheres was selected as one of 13 companies specifically for the Commercialization Program.
AgroSpheres plans to use the funding to optimize the plant targeting mechanisms of its platform technology. AgroSpheres will also begin scaling the production of the platform and performing greenhouse trials with its synthetic and biological products. “We are very grateful for the state’s generosity and looks forward to developing the next generation of crop protectants made possible by these funds,” said CTO, Ameer Shakeel. This is not the first time AgroSpheres has received state funding. In 2017, The Virginia Wine Board provided $50,000 to explore plant targeting for AgroSpheres’ technology. Virginia Wine has been a strong partner to AgroSpheres from the beginning. “Thanks to the overwhelming support received from the Virginia Wine Board, we were able to collect data that was crucial in securing this grant,” said COO, Payam Pourtaheri.
AgroSpheres is a biotechnology company headquartered in Charlottesville, Virginia.