Spero Energy Lands Federal Funding

Spero Senior Scientist Ian Klein says the funding will allow the company to "further prepare for commercialization."

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West Lafayette-based bio-chemical company Spero Energy Inc. has received a $100,000 grant to advance biobased products for the agricultural sector. The funding from the U.S. Department of Agriculture will support work on molecules used to more efficiently deliver micronutrients to a variety of crops.

Spero developed a series of those molecules, or chelates, in the Purdue Research Park of West Lafayette. The company says the technology can help increase crop production and yields. Spero Senior Scientist Ian Klein says the funding will allow the company to "further prepare for commercialization."

The grant comes through the USDA’s Small Business Innovation Research program. The initiative aims to help small businesses conduct high-quality research related to significant agriculture issues. Now that Spero has earned a Phase I grant, the company is now eligible to apply for a Phase II grant of up to $600,000.

Spero has offices in West Lafayette and Thousand Oaks, California.