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Risky business: AgSugar International lands state aid and then changes course

CEDAR RAPIDS — Promising inventions lure private investors to startup companies and the promise of jobs attracts government support, but what happens when the dream fizzles and taxpayer dollars are involved?

When he came to Cedar Rapids last year, Walter “Skip” Emig said he and his corporate team at AgSugar International thought they had landed on a gizmo or two that would revolutionize the ethanol industry and make them, and investors, a lot of money.

They believed the biotechnology machines of Missouri inventor Ted Lewis would help run America without foreign oil.

“We want to get off our dependence on foreign oil, and that was the promise,” Emig said.

His team — Emig and chief associate Dan Kazanas, both of St. Louis, and three Cedar Rapids businessmen — successfully mobilized the local economic development machine — the Chamber’s Priority One office, the Cedar Rapids Entrepreneurial Development Center and City Hall. By July, the local backing had secured AgSugar International a package of state assistance worth about $600,000.

About two months later though, Emig and his team lost faith in Lewis and his machines. They have changed their business plan from an assembly plant for those inventions to an assembly plant for LED office lights.

And taxpayers are now invested in a new dream.

Two machines of Lewis’ invention were the centerpieces of AgSugar International’s request for state funding.

After state approval of the aid package, local testing at Diamond V Mills in Cedar Rapids did not go as hoped for one of the machines that AgSugar International planned to release to the market. By mid-September, a central component of the second machine did not materialize, and the company severed its ties to Lewis a few days later.

The company then changed its name to Vertecra Inc. and pivoted its focus from an assembly plant for those machines to an assembly plant for LED office lights.

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