Texas A&M To Commercialize Bioenergy Discoveries

COLLEGE STATION, Texas(ENS) - The Texas A&M University System today announced it has formed a joint venture company with a Pennsylvania-based venture capital firm to help turn promising energy and agricultural research into marketable products.

The new venture company, AgFuture Energy LLC, is half owned by the A&M System, and the other half is owned by New Hope Partners, a business development, capitalization and advisory company based in Philadelphia.

New Hope specializes in value-added, agricultural and renewable energy based start-up ventures.

Bud Cary, a partner in New Hope Partners, will serve as managing director of AgFuture Energy.

"The sheer number and extent of the opportunities are enormous," Cary said. "The value of the research taking place at Texas A&M University and the global reach and reputation of the entire A&M System already are generating a wealth of new ideas and potential partners to commercialize existing and developing technologies."

One of the largest systems of higher education in the nation, the A&M System encompasses nine universities, seven state research agencies and a health science center. The A&M System educates more than 101,000 students and externally funded research brings in $600 million every year.

"This new venture represents another example of the A&M System’s commitment to finding new ways to meet the energy needs of our state, nation and world by developing strategic partnerships," said A&M System Chancellor Michael McKinney.

"Already we are at the forefront of helping develop clean, renewable bioenergy through our new BioEnergy Alliance. The alliance brings together the vast resources and intellectual capital of our two premier research agencies in agriculture and engineering, the Texas Agricultural Experiment Station and the Texas Engineering Experiment Station."

AgFuture Energy initially will focus on technologies supporting the bioenergy industry.

Environment News Service, Oct. 18, 2007