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Westminster, MD (PRWEB) December 07, 2017
MidAtlantic Farm Credit announced Ben Lee of Rockville, Maryland as the winner of the first-ever AgPitch competition, which took place on December 1 as part of the Rural Maryland Council Summit in Annapolis, Maryland.
“We received applications from nearly 40 creative and innovative entrepreneurs looking to make a positive impact on the agriculture industry," says Andrew Rose, marketing manager with MidAtlantic Farm Credit, and one of the founders of AgPitch. “Narrowing them down to the top five was a difficult task, but we've never been more certain that the future of the industry is in good hands. We're excited for Ben and look forward to watching his business develop."
Lee's company, NABAS Group, Inc., increases the amount of dissolved oxygen in water and disinfects water, resulting in increasing crop yield by 20% and preserving a harvest's freshness by up to seven days using patented nano air bubble aeration system (NABAS) technology. Currently in the post-commercialization phase, this technology has found success in both Europe and Asia, and is being offered in the United States.
“I'm honored to have been chosen to present our business concept to the judges and audience of the inaugural AgPitch event," says Lee. “We are very confident in our technology and the opportunities it can bring to farmers in Maryland and across the country. I can't thank Farm Credit enough for creating such a venue to allow agriculture companies like mine introduce our businesses to the public. "
The four other finalists who pitched at the event on December 1 were: Bennett Wilson of Lexington Park, Maryland; Kelton Clark of Annapolis, Maryland; Mihir Pershad of Baltimore, Maryland; and Rick Hood of Thurmont, Maryland. As the overall winner, Lee will receive $7,500, as well as accounting, legal, and other business services to help launch the success of his business. All of the finalists receive membership into the F3Tech pre-accelerator, which will give them the opportunity to explore avenues to help them grow their business ideas.
About MidAtlantic Farm Credit
MidAtlantic Farm Credit is an agricultural lending cooperative owned by its member?borrowers. It provides farm loans for land, equipment, livestock and production; crop insurance; and rural home mortgages. The co-op has over 11,300 members and over $2.68 billion in loans outstanding. MidAtlantic has branches serving Delaware, Maryland, Pennsylvania, Virginia and West Virginia. It is part of the national Farm Credit System, a network of financial cooperatives established in 1916 to provide a dependable source of credit to farmers and rural America.
Read the full story at http://www.prweb.com/releases/2017/12/prweb14984174.htm.