Nutra-Park, the US company which develops natural products to enhance crop production and shelf life, has received a new injection of cash thanks to a recent link up with Korean firm Doosan.
The company said that it had received US$16 million in funding during the second quarter of 2002 from a variety of Asian firms: Unicorn (China) of Hong Kong and Korean companies Dong Ah Tire & Rubber of Korea, Doosan Heavy Industries and Construction, Doosan Construction and Engineering and Samhwa Crown and Closure.
Larry Kline, chief financial officer of Nutra-Park, said that the money would be used to further develop the company's technology, as well as research activities, field testing development and to assist in the commercial launch of its products.
Nutra-Park formed a partnership with Doosan - a company which specialises in the extraction and purification of phospholipids - in 2000.