Asoyia Receives $300,000 USDA Grant
IOWA CITY, IA—September 9, 2008— EDC client, Asoyia Inc. was informed Sept. 4 the company will receive a $300,000 grant from the United States Department of Agriculture (USDA). Iowa City-based Asoyia was one of 144 recipients in 37 states to receive USDA Rural Development assistance under the Value-Added Producer Grant program.
Asoyia is currently the only commercial producer of trans-fat free per serving ULTRA Low Linolenic Soybean Oils processed from the company’s 1% ULTRA low linolenic soybeans. Asoyia CEO Greg Keeley said the company will use grant funds for marketing their newest product, Asoyia Mid Oleic ULTRA Low Linolenic Soybean Oil (Asoyia-MO).
“Asoyia-MO is a new variety of ULTRA low linolenic soybean oil we just introduced this year,” Keeley stated. “Because it’s new, it requires a higher level of sales and marketing expenses to promote it to the farm community, our seed partners and the food industry.”
A selection of 144 recipients nation-wide received more than a total of $19 million in the USDA grant program. “With these grants USDA is investing in farmers and ranchers and the economic integrity of rural America,” said Agriculture Secretary Ed Schafer.
Asoyia was formed in 2004 by 25 Iowa farmers and today has 10 full-time employees. Asoyia’s innovative specialty soybeans keep their oils fresh and shelf-stable for two to three times longer than conventional oils, thus eliminating the need for partial hydrogenation which creates trans fat. Asoyia-MO is the newest generation of Asoyia Ultra Low Lin Oil (Asoyia-ULL), which the company introduced to the market in 2004.
“Our goal is always to be the leader in the development and marketing of specialty soybean oils that provide superior performance and better value for our customers,” said Keeley.
For more information about Asoyia and Asoyia products, call (877)276-9421 or visit www.asoyia.com.
