Pennycress Energy Co. to present at Ag Innovation Showcase

August 31, 2012 10:20 AM
pennycress_energy_co
 
Pennycress Energy Co., a startup company involved in the commercialization of pennycress as a winter cover crop with income potential as a renewable energy source as been attracting a lot of attention lately. It has been nominated for the Illinois Governor's Sustainability Award, the prestigious 2012 Chicago Innovation Awards, and now has been selected to be a presenter at the Ag Innovation Showcase in St. Louis on September 10, 2012.
 
This year the Ag Innovation Showcase will feature presentations from 23 of the most promising young Ag start-ups and research teams from 7 countries as they showcase their cutting-edge technologies and business plans to the world's most distinguished Ag executives, investors and other potential partners.
 
Now in its fourth year, the Ag Innovation Showcase has distinguished itself as the premier event where Ag venture capitalists and corporate strategist connect. The showcase is an international platform that facilitates dialog and deal-flow between Ag industry leaders, emerging innovators and investors in ag-bio, renewable energy, sustainable materials, food production, animal health and farming technologies.
 
Sudhir Seth, Pennycress Energy Co. CEO said, "We are truly honored to be a presenter at the Ag Innovation Showcase. We're in the company of some truly innovative companies and we take that as an affirmation of what we are doing with pennycress as a cover crop and renewable bio-diesel feedstock."
 
Serin Rao, Pennycress COO added, "We have the potential to really help our farmers with a cover crop that prevents nutrient and soil loss; has been shown to boost soy bean yields after a pennycress cover crop; and can contribute to the renewable energy initiative by producing a high-quality bio-diesel feedstock. Being able to get our message out at a showcase like this is very useful to us."
 
Besides having the potential to make an impact on the agricultural sector Pennycress Energy Co. also has implications for local economic development.
 
Gary Camarano, Global Strategies Director for the city of Galesburg's Economic Development Department notes, "When we reach our acreage growing pennycress goal in the Galesburg/West Central Illinois Region we'll have the potential of adding approximately $25 million in income to our farm community, creating jobs at the anticipated crushing, distribution and refinery facilities and contributing to a solution for our national energy crisis - a domestic, renewable bio-diesel feedstock. This project works on so many levels."
 
Pennycress Energy has also caught the eyes of several elected officials, including Congressman Bobby Schilling (IL 17), who said, "This is a very interesting concept and needs a close look. When you get a company putting income into the community, creating jobs, and contributing to energy independence that is something we can all get behind - red or blue - it's good for the country."
 
State Representative Don Moffitt added, "As a legislator and farmer I can definitely see the merits to this. I think we should all explore this opportunity Pennycress presents. I am very pleased with the work the city of Galesburg, Mayor Sal Garza and their economic development team is doing in working with opportunities like this, and I think their efforts could be a model for other communities in the state, if not nationwide."
 
For information about Pennycress Energy Co. please contact Sudhir Seth, CEO at 650/776 5443 or at seth@arvenstech.com. For information about the city of Galesburg and its economic development programs for businesses in West Central Illinois contact Gary Camarano, Global strategies Director.
 

 

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