Haber Technologies, Inc. co-founders, (l-r) Eric Harweger and Dillon Hurd, are shown in front of the company’s HaberStack™ system, which aims to revolutionize grain drying and storage management.

 

FOR IMMEDIATE RELEASE

AMES, Iowa (Sep 10, 2019) – The Iowa State University Startup Factory today announced that cohort four team Haber Technologies, Inc. closed a $310,000 angel financing round.

Co-founded in 2019 by Iowa State graduates, Eric Harweger and Dillon Hurd, Haber Technologies uses an innovative and proprietary grain drying and aeration system, called the HaberStack™, to optimize grain quality, save energy and aid in harvest management. The investment capital will provide Haber Technologies interim funding to expand its business and increase operational capacity prior to generating revenue from products and services.

Three strategic angel investors participated in the round, including company Vice President and Chairman of the Board Dave Furbush, Board Secretary Brian Porter and Technology Advisor Dr. Kurt Rosentrater.

Furbush is the retired founder and vice president of Midwest Project Partners, Inc., an Aureon Company. Rosentrater is an associate professor in the Department of Agricultural and Biosystems Engineering at Iowa State University, where he teaches courses on grain storage, handling, preservation, and processing. Both Furbush and Porter serve on the ISU Startup Factory teaching team.

“I was very impressed with early testing results Eric, Dillon and their team realized with the HaberStack system,” Furbush said. “The system shows improvements in time-to-dry of almost 20%, with estimates for the next generation reaching at least 40%. That’s a significant improvement with important ramifications in the agricultural marketplace, not to mention, a farmer’s bottom-line. Seeing its market potential, I didn’t hesitate to jump on board as both a team member and angel investor.”

Furbush said faster time-to-dry means longer allowable storage time, lower energy use and quicker access to the market. “Given these benefits and the ease of use of the product, I’m confident this new technology will prove to be the future of grain drying and storage management,” he said.

Haber Technologies President and Co-Founder Eric Harweger says while over the last several decades the focus in agriculture has primarily been on improving crop growth, his company aims to impact agriculture through improved harvest management.

“We want to help farmers make the most of their harvest and increase profits,” Harweger said. “Our goal is to quickly dry the grain at an optimal energy efficiency. Our system then monitors and maintains grain quality, maximizing the allowable storage time.”

Noteworthy, Harweger says the HaberStack™ is an easy to use ‘set and forget’ technology based on a few simple principles of grain physics, coupled with modern technology and driven by artificial intelligence.

“With our technology, corn harvested straight out of the field into a HaberStack-fitted bin is dried to a specific moisture content within client-driven parameters,” Harweger said.  “We’ve drastically reduced moisture content variation throughout the bin, so farmers aren’t wasting energy and money by over-drying the bottom while the top remains wet like many grain drying and aeration systems. Our system optimizes grain quality so farmers get the best final product possible, and it ultimately puts money back in the farmer’s pocket.”

 

Company gets boost from Iowa State’s entrepreneurial ecosystem

Harweger said he is grateful for support his company has received from teachers, mentors and programs at Iowa State that foster a culture of innovation and entrepreneurship.

Haber Technologies is a member of the Iowa State University Startup Factory’s fourth cohort. The Startup Factory is a 52-week intensive program at the Iowa State University Research Park that provides an avenue for students, faculty, staff, and community members to create technology-based, platform businesses. Entrepreneurs in the program receive formal training, resources, and access to a network of business mentors, advisors, counselors, and investors in two 26-week blocks: the first is a formal curriculum centered on business validation, while the second block is more customized to their individual business needs.

“The genesis of our company was an idea Dillon Hurd and I came up with during a senior ag and bio engineering class project at Iowa State,” Harweger said. “We got a lot of support for our idea from Dr. Rosentrater, who was our professor at the time, and subsequently, the ISU Startup Factory, where I met teaching team members Dave Furbush and Brian Porter. Together, these individuals and programs were instrumental in helping us get our business idea off the ground. And now, with the angel investment we’ve received from three of our former mentors — now company team members — we can’t wait to bring this proof-of-concept to market.”

Recently, Harweger and Hurd took their business pitching skills to the Iowa State Fair where they were  honored with the Applied Technology and Innovation award and a $2,500 semifinalist prize at the “The Great Iowa State Pitch Off: STANDING InnOVATION!,” held at Iowa State University’s State Fair exhibit in the Varied Industries Building, Aug. 8-18. Fairgoers had the chance to listen to 150 Shark Tank-like entrepreneurial pitches from students, alumni, and community members and vote for participants to compete for the chance to win cash prizes.

“It was a great experience, and we are thankful for the opportunity to share our technology with fairgoers,” Harweger said. “The culture of innovation and entrepreneurship at Iowa State is outstanding, and we were pleased to be among the many innovative ideas coming out of Iowa State.”

###

About Haber Technologies
Haber Technologies, Inc. founded by Iowa State University alums Eric Harweger and Dillon Hurd, is generating technology to meet the demands of the 21st century farm. The company is currently focused on the post-harvest supply chain, targeting areas of grain drying, aeration and bin monitoring. For more information, call (515) 509-0333 or visit haber-tech.com.

About ISU Startup Factory
The Iowa State University (ISU) Startup Factory is a 52-week intensive program housed at the ISU Research Park (ISURP). Entrepreneurs in the Startup Factory receive formal training, resources, and access to a network of business mentors, advisors, counselors, and investors in two 26-week blocks: the first a formal curriculum centered on business validation, and the second, customized to their individual business needs. For more information on the ISU Startup Factory program, call 515-294-7444 or visit isustartupfactory.org.

About ISU Research Park
Establish in 1987, The Iowa State University Research Park (ISURP) is a real estate development community closely affiliated with Iowa State University. ISURP assists both established and startup companies in connecting with Iowa State’s vast infrastructure to grow their enterprises; whether through students, research entities, equipment or a multitude of other resources. ISURP is currently home to 93 companies and research centers and 11 affiliates, employing 2,155 and 135 people, respectively, and occupies approximately 800,000 square feet of commercial real estate on 400 acres. For more information on ISURP, call 515.296.4204 or visit isupark.org.

Contact:
Julie Lelonek, Office of Economic Development and Industry Relations Communications
515-294-1562, jlelonek@iastate.edu

Iowa State University
Office of Economic Development and Industry Relations
1805 Collaboration Place
Ames, IA  50010

X
X