OLATHE, Kan. (AP) – The Kansas Bioscience Authority will spend $750,000 to buy a nearly 4 percent stake in a company that makes biodegradable plastics.
The Lawrence Journal-World reports (http://bit.ly/13AFPtU ) the investment in Green Dot Holdings, of Cottonwood Falls, was one of three loans and investments totaling $1.8 million approved Monday by the agency’s executive committee.
The Bioscience Authority helps new Kansas companies in the biosciences and life sciences fields. A strategy adopted this spring focuses more on investments that will provide returns than in awarding grants.
Committee members also approved a $700,000 loan to SmartVet USA Inc., of Olathe (oh-LAY’-thuh), to help build a plant that will make medicine capsules for cattle.
An investment of about $300,000 was approved for a third company whose identity remains confidential for now at the firm’s request.