In September, Verdesian opened a second research and development (R&D) laboratory in Research Triangle Park (RTP). The purpose of the lab, located at 6 Davis Drive, focuses on the exploration of emerging and disruptive technologies to improve plant nutrient use efficacy, agriculture productivity, and environmental sustainability.
Operating in conjunction with the R&D laboratory and growth chamber facilities that were first commissioned in 2017 and with the greenhouse facilities at Duke University, this new lab allows Verdesian to bring together resources to advance technologies in an unmatched speed from discovery research to product launch. All of this is an effort to bring the best technology to growers around the world.
“We are proud of our commitment to RTP. With the amazing talent pool and the fusion of agriculture and innovation, this area is a natural fit for a tech-focused life sciences company like Verdesian,” said Dr. Kuide Qin, Chief Science Officer. “This new lab is a key component of our innovation strategy. By bringing the resources together from R&D and business functions, we can efficiently and effectively evaluate new technologies, cross-pollinate new ideas, and uncover hidden insights on customer feedback. It then further drives better solutions to enable a more sustainable and profitable future for growers through nutrient use efficiency.”
Additional headcount, and expertise
In March, Verdesian selected a new Chief Financial Officer, Erica H. Boisvert, formerly with TyraTech, Inc., where she spent three years as CFO. Prior to TyraTech, Boisvert founded and is CEO of The Synapse Connection, LLC, a consulting services company. Erica spent eight years at SlickEdit Inc., a software company, beginning as CFO and finally as President and Chief Operations Officer. Erica is a Certified Public Accountant (CPA) and a Chartered Global Management Accountant (GGMA).
In April, Verdesian hired Susan Barnes Waldo as Global Human Resources Director. She was Branch Operations Manager at Express Employment Professionals prior to joining Verdesian, and she served as Human Resources Director for CGM Group as well as Southern Energy Management, Inc.
Also in April, Verdesian brought aboard Sam Oliver as Chief Manufacturing Officer. Oliver was Executive Vice President for VoloAgri Group, Inc., in San Luis Obispo, California prior to Verdesian. Oliver has tremendous experience, with more than 30 years of agricultural and food industry experience in product sectors of an internet technology startup, large scale crop protection chemical manufacturing, row crops seed production, vegetable seed production, injectable pharmaceutical, artificial sweetener, and animal agriculture.
Throughout July and August, Verdesian expanded its headcount an additional 10 full-time employees in customer service, chemistry, finance, operations, and administrative and marketing support.
Restructured growth financing
In June, Verdesian, and its VC, Paine Schwartz Partners, LLC, completed the planned recapitalization of its debt facilities with support from existing and new investment partners. The refinancing was completed with support from both new and existing investment partners, including Paine Schwartz, who made their first investment in Verdesian back in 2012. The recapitalization provides the Verdesian with the capital to support the growth of its core technology offerings.
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