ALBUQUERQUE, N.M., January 15, 2014 – The New Mexico Small Business Assistance (NMSBA) Program has approved a $60,000 grant under their leveraged projects program for EcoPesticides International, Inc. The grant will allow EcoPesticides to utilize expertise of scientists at Sandia National Laboratories to further the development of their “green” pesticides based on proprietary fungi-encapsulation technology. EcoPesticides’ chief technology officer and inventor of the technology, Adam Forshaw, will be working closely with Sandia scientists to advance the technology.
EcoPesticides is a New Mexico Start-Up Factory portfolio company and has received early-stage funding from the organization. John Chavez, director of the New Mexico Start-Up Factory, believes the NMSBA grant funding is a game changer. “The funding allows us to test more polymers used for encapsulating the fungi and to accelerate our development timetable. The quicker we complete this round of tests, the quicker we can pursue additional investment. Each step puts us closer to commercializing this potentially game-changing pesticide.”
Testing is slated to begin in February 2014. Due to the potentially harmful effects of chemical pesticides, agri-business, governments, and the general public are eager to embrace naturally occurring pesticides that pose no threats to humans, animals and the environment at large. Chavez said with EcoPesticides, it’s a matter of being in the right place at the right time.
About EcoPesticides International, Inc.
EcoPesticides is a New Mexico Start-Up Factory company that has developed environmentally friendly pesticides that rely on naturally occurring fungus to combat specific insects. The technology was developed at the University of New Mexico. Visit www.EcoPesticides.net.
About New Mexico Small Business Assistance Program
The New Mexico Small Business Assistance (NMSBA) Program allows New Mexico small businesses facing a technical challenge to access the unique expertise and capabilities of Los Alamos and Sandia national laboratories. At no cost to the business, small businesses with a technical challenge can seek assistance from lab scientists or engineers for projects that require testing, design consultation and access to special equipment or facilities. Visit www.nmsbaprogram.org.