Partnerships & Acquisitions

CHAMPAIGN, Ill. — Nutrien, a publicly traded Canadian fertilizer company, announced its plans to acquire Research Park startup Agrible for $63 million on Monday. The deal is expected to close by the end of the month. Agrible, a precision analytics company, analyzes and provides agronomic information using science and technology to transform results into useful knowledge. Agrible had raised more than $13 million in venture capital, and was twice named to the THRIVE 50, an annual list created by SVG Partners that ranks the best AgTech companies in the United States. Its tools have 17,000 grower users that represent approximately 11 million acres in aggregate. “The acquisition of Agrible is consistent with our strategy of investing in the growth of Nutrien’s Retail business to further strengthen and differentiate our leading global position,” said Chuck Magro, President & CEO of Nutrien in a news release. “We expect to recognize significant strategic and financial benefits from the transaction by leveraging Agrible’s capabilities to deliver unique, value-enhancing solutions across our Retail network.” Founded in 2012, Agrible now has 55 employees and is headquartered in Champaign at the University of Illinois Research Park. It is a graduate of the Research Park’s EnterpriseWorks tech incubator. The company is a true local success story. Agrible has collaborated with multiple Research Park companies, including working with Anheuser Busch InBev on forecasting barley yield; with John Deere on mobile apps; and received investment from ADM. Its first customers and users were located in Central Illinois. Its lead investor, Serra Ventures, starting from seed round through its Series B, is also based in the Research Park. In addition to named investors such as Flyover Capital and Maumee, multiple local angel investors had participated in Agrible’s various raises. The startup acquistion is one of the largest in the state of Illinois this year, trailing only Home Chef ($200 million) and Maestro Health ($155 million). “Agrible has dedicated its business strategy and development activity to building market-leading data science and digital tools that provide growers with the information and insights they need, when and where they need them,” said Paul Miller, Chief Science Officer & Co-Founder of Agrible in a news release. “We have a strong fundamental belief that the most effective means of scaling and delivering the value of Agrible’s tools is by leveraging and empowering the important role that agricultural retailers play in supporting growers’ ability to sustainably maximize crop production. As a result, this exciting combination with Nutrien Ag Solutions is the ultimate validation of our strategy and the ideal platform to significantly scale-up the capabilities that we have built, while continuing to grow and enhance the value we provide our global sustainability customers.” Agrible was founded by Chris Harbourt, Paul Miller and Bill Northcott, three PhD scientists who are University of Illinois at Urbana-Champaign alumni. The company, then called Ag Informatics, moved into the incubator in early 2014. With the help of resources available through EnterpriseWorks and Research Park, Agrible launched Morning Farm Report and made important connections in the community with growers and other Research Park companies. It graduated from EnterpriseWorks in late summer 2015 and moved into custom constructed space at 2021 S. First Street in the Research Park, where it remains today. Agrible timeline:  2018: July: Nutrien Announces Acquisition of Agrible for $63 millionJanuary: Named to the THRIVE 50, an annual list created by SVG Partners that ranks the best AgTech companies in the United States, for the second time. 2017:September: Announces formal partnership with AB InBevSeptember: Announces Series B funding, $9.7 million. The first close was led by Maumee Ventures, the venture arm of The Andersons grain handling company. Other investors: iSelect Fund, Flyover Capital, Archer Daniels Midland, Serra VenturesJanuary:  Named to the THRIVE 50, an annual list created by SVG Partners that ranks the best AgTech companies in the United States. 2016:Summer: Agrible and AB InBev began work together to forecast barley yield and quality factors through better crop modeling and predictive analytics for American farmers, announce global partnership in September 2017.May: Announced that Morning Farm Report received an Ag Data Transparent seal backed by the American Farm Bureau Federation and the National Farmers Union. 2015:November: Celebrates Grand Opening of a new office in the University of Illinois Research ParkJuly: Announced $4.1 million Series A round of funding, led by Serra Ventures. Co-investors include ADM and Flyover Capital.March: Company wins the 2015 Innovation Celebration New Venture Award (VIDEO HERE)February: Launched Morning Farm ReportCompany changes it name from Ag Informatics to Agrible. 2014:April: Raises seed funding from Serra Ventures.January: Company enters the EnterpriseWorks incubator. 2012: Company Founded. For more news on the deal: Fox IllinoisThe News-GazetteAmericanInnoPrecisionAgPR NewswireChicago Business Journal

SYNCHRONY OPENS EMERGING TECH CENTER AT THE UNIVERSITY OF ILLINOIS TO DEVELOP ARTIFICIAL INTELLIGENCE SOLUTIONS Champaign, Illinois (April 12, 2018) – The University of Illinois today announced that Synchrony (NYSE: SYF), a leading consumer financial services company, has opened the Synchrony Emerging Technology Center at the University of Illinois Research Park. The Emerging Technology Center will focus on advancing Synchrony’s finance and technology capabilities as well as providing real-world skills for students in artificial intelligence, data science, human-centered design and other emerging technologies. Current projects include ‘Ensemble Methods,’ exploring the potential applications of machine learning to credit risk modeling, and the ‘Machine Vision’ project, aimed at transforming the in-store shopping experience by removing the need for the traditional checkout process. “Developments in artificial intelligence and machine learning have the potential to reshape entire industries. The key for the financial services and retail sectors now lies in understanding how to best harness these technologies to solve real-world problems and deliver better hyper personalized customer experiences,” said Greg Simpson, Chief Technology Officer and Artificial Intelligence leader at Synchrony. “By bringing together the sharpest minds from Synchrony and the University of Illinois, we now have the ability to accelerate the development of these artificial intelligence solutions while building our pipeline of technology talent.” The students in the program will work closely with Synchrony technology experts to commercialize solutions for the company’s partners. Projects can range across multiple disciplines, such as basic market and technology research, big data analytics, proof-of-concept creation, data visualization, and software development. Synchrony VP of Technology Ujjval Patel will recruit and train student talent for the Emerging Technology Center. The new partnership builds upon Synchrony’s existing relationships with other educational institutions and complements the company’s four global Innovation Stations. “Synchrony is developing the future of finance, and what better place than the University of Illinois where it can leverage our expertise in data sciences and computing,” said University of Illinois at Urbana-Champaign chancellor Robert J. Jones. “Synchrony’s brand of financial firepower presents interesting opportunities that will engage University of Illinois faculty and students alike.” Press: Business Wire About synchrony Synchrony (NYSE: SYF) is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than $130 billion in sales financed and 74.5 million active accounts, Synchrony brings deep industry expertise, actionable data insights, innovative solutions and differentiated digital experiences to improve the success of every business we serve and the quality of each life we touch. More information can be found at www.synchronyfinancial.com and through Twitter: @Synchrony.

Champaign, Illinois (February 1, 2018) – The University of Illinois today announced that Monsanto (NYSE: MON), a global agriculture company headquartered in St. Louis, and The Climate Corporation, a subsidiary of Monsanto, have opened the Monsanto Innovation Center at the University of Illinois Research Park. When fully staffed, the Monsanto Innovation Center will employ more than two dozen students who will enhance and augment a robust agricultural innovation portfolio with additional enabling capabilities like IT, data science and engineering. Students will focus on cutting-edge, real-world, social, scientific challenges in areas like advanced analytics, operations research, phenomics, genomics, plant science and precision breeding technologies. The center will employ students who are studying disciplines such as electrical engineering, UX design, mechanical engineering, software engineering and imaging sensor science. The Center will use digital tools and data to drive agricultural innovations which increase efficiency and reduce the amount of water, land, and energy necessary to meet the world’s food, fuel and fiber needs. “At Monsanto, we are a company built on innovation. We believe connecting new talent and ideas accelerates the discovery needed to feed and sustain our world,” said Mike Graham, vice president of Global Plant Breeding. “The Monsanto Innovation Center will cultivate future scientists who have the opportunity to shape how data science is applied to modern agriculture.” “Continued advancement of research and educational programs at leading universities is essential to the future success of modern agriculture. Additionally, it’s critical we support the training and development of the next generation so they can apply their education and implement new technologies to help solve agricultural challenges,” said Sam Eathington, chief science officer at The Climate Corporation. “It’s for this reason we have invested in the new innovation center at the University of Illinois at Urbana-Champaign, to help deliver on this promise.” The Center has hired both graduate and undergraduate students from across campus, representing at least four different colleges and multiple disciplines. It is focused on fostering a collaborative, entrepreneurial and solution-based framework where students will engage with innovative projects designed to help facilitate professional development. “The Monsanto Innovation Center at Research Park represents the next frontier of a relationship that spans decades,” said University of Illinois at Urbana-Champaign chancellor Robert J. Jones. “Tapping into the talent base of our students is a win-win. For them, getting to address some of the complex problems facing society is part of the fabric of what it means to get an Illinois education.” The Center opens with seven highly-skilled student interns. It will continue to recruit top University talent to fill roles as additional projects come to fruition. “Monsanto and the University of Illinois have deep ties thanks to a long-lasting, strong relationship. We anticipate that will only continue thanks to this unique opportunity to grow a footprint directly on campus in the Research Park,” said Blake Giles, site director of the new Monsanto Innovation Center.About Monsanto Company Monsanto is committed to bringing a broad range of solutions to help nourish our growing world. We produce seeds for fruits, vegetables and key crops – such as corn, soybeans, and cotton – that help farmers have better harvests while using water and other important resources more efficiently. We work to find sustainable solutions for soil health, help farmers use data to improve farming practices and conserve natural resources, and provide crop protection products to minimize damage from pests and disease. Through programs and partnerships, we collaborate with farmers, researchers, nonprofit organizations, universities and others to help tackle some of the world’s biggest challenges. To learn more about Monsanto, our commitments and our more than 20,000 dedicated employees, please visit monsanto.com. Follow our business on Twitter® at twitter.com/MonsantoCo. About The Climate Corporation The Climate Corporation, a subsidiary of Monsanto Company, aims to help all the world’s farmers sustainably increase their productivity through the use of digital tools. The integrated Climate FieldView™ digital agriculture platform provides farmers with a comprehensive, connected suite of digital tools. Bringing together seamless field data collection, advanced agronomic modeling and local weather monitoring into simple mobile and web software solutions, the Climate FieldView platform gives farmers a deeper understanding of their fields so they can make more informed operating decisions to optimize yields, maximize efficiency and reduce risk. For more information, please visit www.climate.com and follow the company on Twitter @climatecorp. Read about the Monsanto Grand Opening In the Press: Feedstuffs The Daily Illini AgDaily News Business Wire Watch a video of the Ribbon Cutting 

The University of Illinois and AGCO announces the opening of the AGCO Acceleration Center at University of Illinois Research Park.

Champaign, Ill. – Nov. 3, 2017 – COUNTRY Financial is investing in student research with an eye on the technological needs of the future. The insurance and financial services company opened a digital innovation lab in the Research Park at the University of Illinois at Urbana-Champaign this fall. The DigitaLab has been established by the COUNTRY Financial Information Technology Services (ITS) Department to develop and innovate digital projects, with an emphasis on mobile app development. “With a top-five ranked engineering and computer science program, the U of I is a perfect partner as we grow our digital skills and reach out to new talent,” said Kurt Bock, Chief Executive Officer at COUNTRY Financial. The University of Illinois Research Park, which connects private industry with faculty researchers and students, has more than 110 resident companies including leading corporations and deep-tech startups. “COUNTRY Financial’s interests match many strengths of our campus, from agriculture to finance to computing,” said University of Illinois at Urbana-Champaign chancellor Robert Jones. “The new DigitaLab will provide even more experiential learning opportunities for our students.” Putting a team in place Full-time site manager Julia Hart was named in September to lead the efforts at the DigitaLab, which has 2,600 square feet of work space. She will supervise 10-12 students who will work in the lab at U of I and act as the liaison to the University and other COUNTRY employees. A bright future Recruitment efforts are underway to find students who will be on the front lines of application development and enhancement. “The DigitaLab will help us explore new ways of working but also provide a growth opportunity for students just beginning their careers.” Brad Hildestad, Executive Vice President and Chief Information Officer at COUNTRY Financial. “It’s an exciting environment to experiment with our digital capabilities understand what we can do and iterate further. We can’t wait to get started.” About COUNTRY Financial®            COUNTRY Financial® (countryfinancial.com) serves about one million households and businesses throughout the United States. It offers a wide range of financial products and services from auto, home, business, farm and life insurance to retirement planning services, investment management and annuities. Find news coverage of this event here and here.  View photographs from the event here.  

August 9, 2017: DuPont, a world-renowned science and engineering company that focuses on agriculture and nutrition, advanced materials, and bio-based industrials, has aquired Granular, a San Francisco agriculture software company that has its regional headquarters at the University of Illinois Research Park. The purpose behind this aquirement is primarily to accelerate the digital agriculture strategy, which will lead to farmers running more profitable businesses. Since being founded in 2014, Granular has made its mark on the agriculture industry as a company that makes it easier for farmers to manage a large farm and use pinpointed data to make calculated and accurate business decisions. In addition, Granular operates AcreValue.com, which is currently the leading digital marketplace for farmland real estate. Sid Gorham, Granular’s co-founder and CEO, will continue as the the leader of Granular, as well as the new leader for Digital Agriculture for DuPont. This will include responsibility for Encirca services, which is DuPont’s agronomic software business. This aquisition will connect growers, analytics, and public and private data, which will enhance Granular and DuPont’s mutual dream of a more digitally connected and sustainable agriculture industry. James C. Collins, DuPont’s Executive Vice President, said “This aquistion is an important component of our commitment to leading and shaping the agtech market.” Delivering more value to growers throughout the world is a vision that has been shared by Granular and DuPont, even before aquistion. “We started Granular to make an big impact on the business of farming” said Sid Gorhman.  “I am confident that as a part of DuPont we will make a bigger impact even faster. Dupont shares our vision for using technology to help farms improve their dollar yield, not just their bushel yield. We are excited to pursue that vision together.” Granular will continue to maintain its office in the Research Park. To read the full press release, click here.

Hailong Ning, Director of Research and Development at Xerion Advanced Battery Corp., was featured on the Wired In column of The News-Gazette. The startup recently graduated in 2017 and has just finished building its second location in Dayton, Ohio. Xerion Advanced Battery Corp. (XABC) develops advanced batteries through a nanostructured electrode architecture, called StructurePoreTM. Hailong explains that “the technology we are working on is top-notch. We work at a much faster pace than big companies and university labs.” Apart from their pilot plant location in Ohio, Hailong states that the company still has a division at Research Park, with the goal to continue close work with the University of Illinois. They will use their space at Research Park to work on new battery designs. Read the full story on The News-Gazette.

Aptimmune Biologics Inc. recently launched the worlds first commercially available mucosal autogenous PRRSV vaccine for swine, administered via nasal spray. The vaccine was made with BARRICADE formulation technology, which offers a revolutionary approach to PRRSV management. Dr. Bob Nordgen, Aptimmune Biologic Consulting Immunologist says, “The intent is to create immunity at the respiratory surface, where the pig is naturally challenged. This vaccine offers a real opportunity to address a significant gap in disease control that still exists years after PRRSV was first identified.”