CropLife e-News

New Kid On The Block

Although the name Asoyia may not be familiar yet, the company is taking steps to develop its soybean seed and oil business.

By finalizing an agreement with Prolog Ventures and Life Science Partners (LSP), two venture capital firms, Asoyia has secured $4 million to expand marketing, research, and development of its proprietary ULTRA low linolenic soybean products, including the 1% ULTRA low linolenic soybeans and ULTRA Low Linolenic Soybean Oils.

According to Asoyia, based in Iowa City, IA, those products include the first and only commercially available soybean oils with the highest level of stability and zero trans fats per serving for the food industry. The company’s ULTRA Low Linolenic Soybean Oils are produced from its 1% ULTRA low linolenic soybeans.

The innovative specialty soybeans keep the oil fresh and shelf-stable for two to three times longer than conventional oils thus eliminating the need for hydrogenation which creates trans fat, according to Asoysia. The Food and Drug Administration began requiring trans fat labeling on all packaged foods in 2006, fueling the food industry’s demand for a viable non-hydrogenated oil alternative.

"The new partnership between Asoyia, Prolog, and LSP is going to propel us from an established and growing entrepreneurial business into a major marketer of ULTRA low lin oil," says Greg Keeley, Asoyia CEO. "We have an incredibly good product and a demand that’s been extremely strong due to the emphasis on health and wellness, the FDA’s new labeling legislation, and the banning of trans fat containing oils in some communities like New York City. This will fund our passion for providing a viable, healthy alternative by giving us the working capital we need to bring the company to the next level of success."

Asoyia’s ability to meet demand depends on the participation of growers willing to grow a specialty identity-preserved soybean in lieu of commodity soybeans or corn. The infusion of funding will allow Asoyia’s production division to develop an expanding business development team, as well as more delivery points throughout the Midwest. Asoyia will continue to work closely with various genetic suppliers of the 1% ULTRA low lin soybean genetics to develop additional new varieties with improved yield potential and various disease resistance characteristics. Additionally, Asoyia will be better able to capitalize on its strong foothold in the 1% ULTRA low lin soybean seed market by continuing to collaborate with several key seed partners to maximize distribution throughout the entire grain belt region.

For more information about Asoyia, call 877-276-9421 or visit www.asoyia.com.