By Beverly Molnar
Phospholutions, a sustainable fertilizer company committed to creating technology-based solutions for food production and environmental challenges by enhancing the efficiency of phosphorus use, is a Happy Valley startup success story — and a perfect example of how the Happy Valley entrepreneurial ecosystem can provide multiple, simultaneous resources that prop up such success.
As we’ve reported in the past, founder Hunter Swisher began his entrepreneurial journey as a Penn State student. With support from Ben Franklin Technology Partners and Penn State, he launched his business before graduation.
“[Ben Franklin] has been working with Hunter literally since day zero,” said Todd Erdley, program manager with Ben Franklin Technology Partners. “Hunter participated in our TechCelerator Program in fall 2016.”
Ben Franklin’s support for Phospholutions has showcased a full engagement of the organization’s three pillars: Knowledge, Networking and Funding, said Erdley.
“Hunter and the Phospholutions team have used our full suite of transformation services, ranging from market research to HR to accounting to marketing,” he said. “[Ben Franklin] has also provided key introductions for the team that have been impactful on all levels of the business.
“Finally, [Ben Franklin] has provided multiple investments to include the largest single investment we have ever provided,” Erdley added.
This multi-tiered collaboration led to the development and launch of Phospholution’s RhizoSorb®, a fertilizer technology that increases nutrient use efficiency, cutting costs for farmers and reducing the environmental impact of phosphorus fertilizers. As the first fertilizer technology on the market proven to reduce phosphorus use by as much as 50% while improving grower yields, RhizoSorb is setting a new industry standard for phosphorus efficiency.
“Integrating RhizoSorb into fertilizer production makes it more economical and feasible for farmers to use,” Swisher explained. The company recently announced the results of a study proving that the product reduces runoff potential by 78% compared to conventional phosphorus fertilizers.
Now, Swisher oversees a management team of eight executives who lead a company employing 28 staff members. Under his leadership, the startup has garnered support from the agricultural technology sector and secured investments of more than $30 million in venture capital.
As the most recent example of Phospholution’s use of Happy Valley entrepreneurial and Penn State resources, Phospholutions signed a memorandum of understanding (MOU) with the Penn State College of Agricultural Sciences, as a commitment to furthering their collaboration in research and education. The partnership creates a framework for the two entities to explore shared interests and underscores the college’s commitment to translating research into impactful solutions, said Blair Siegfried, the college’s associate dean for research and graduate education.
“The MOU not only helps to make the work of our faculty and scientists available to growers and helps protect our natural resources, it also provides our graduate students with opportunities for industry experience,” Siegfried said. “It may also lead to partnerships with other industries that will result in opportunities for sponsored research.”
“The partnership with Penn State’s College of Agricultural Sciences represents a win–win–win,” said Erdley. “It’s a win for Phospholutions and its ability to continue developing cutting-edge technology. It’s a win for Penn State to showcase public/private partnership that can rapidly build upon the success of both Penn State and Phospholutions. And it’s a win for Pennsylvania to have this amazing research lab developing technology and solutions that will fuel additional entrepreneurial outcomes and drive economic impact to our Commonwealth.”
“It’s a win for Pennsylvania to have this amazing research lab developing technology and solutions that will fuel additional entrepreneurial outcomes and drive economic impact to our Commonwealth.”
“We continue to support Phospholutions thanks in large part to Hunter’s vision and willingness to both learn and share his knowledge,” Erdley concluded. “We will support his team as they continue to make an impact on our planet through decreased reliance on phosphorous.”
Siegfried acknowledged the mutual benefits of having the resources and innovative capabilities of local companies such as Phospholutions at the university’s disposal.
“We are committed to creating an environment where companies can access a well-trained and educated workforce that makes historic innovations in agriculture,” he said. “We are also committed to helping the local economy by making our research accessible to those who really need it. Our strategic partnership with Phospholutions is a great place to start.”
Bev Molnar is a freelance writer and a public relations specialist at Penn State University Libraries. She can be reached at bgs3@psu.edu.
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