“We are excited to support local production of new and innovative technologies that advance domestic fertilizer manufacturing and supports lower costs for farmers,” said Weaver. “This investment into Utah’s agricultural economic development reflects the commitment of the Biden-Harris Administration to build the economy from the bottom up and middle out.”
Aqua-Yield plans to purchase urgently needed equipment to begin a new technology production process, bringing the benefits of Nanoliquid technology to dry granular fertilizer. The new technology works as a delivery system for crop inputs and is highly compatible with fertilizers, biostimulants and pesticide products. The increased product performance results in higher yields and healthier crops.
“With this capital, we will continue to grow our business, expand our footprint and build our brand,” said Clark Bell, CEO and Co-founder of Aqua-Yield. “This grant will further our efforts in bringing our game-changing nanotechnology to growers across the U.S.”
The Fertilizer Production Expansion Program (FPEP) is funded by USDA’s Commodity Credit Corporation and is part of a government-wide effort to spur domestic competition and combat an increase in fertilizer costs caused by the war in Ukraine.
In 2022, USDA made $500 million available under the Fertilizer Production Expansion Program, to increase innovative domestic fertilizer production, creating jobs in rural communities and providing more options to U.S. farmers. Due to strong demand for funding, in June of 2023, USDA increased the funding available for FPEP to up to $900 million.
The Department received requests for $3 billion in applications from more than 350 businesses for the first two rounds of the program. Including today’s announcement, since the program was announced roughly 18 months ago USDA has awarded 33 projects for a total of over $121 million invested. USDA expects to announce additional project selections in the coming months and is inviting public comments on four projects through November 15, 2023.
Aqua-Yield Awarded USDA Grant Under the Fertilizer Production Expansion Program
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Author: Matt Hopkins