The Eastern Shore Entrepreneurship Center (ESEC) has received a $105,000 grant from the U.S. Department of Agriculture (USDA) to plan and develop an implementation strategy for a regional Farm to Freezer value-chain coordination program in partnership with the Chesapeake Culinary Center (CCC).

The partnership combines each organization’s expertise to develop a more resilient and sustainable food system. ESEC is a leading provider of entrepreneurial technical assistance and programs that enable the commercialization of innovations and technologies in the agriculture sector. CCC is the region’s guiding force in operating a community kitchen, processing local produce, and making pre-prepared meals available to populations with limited food access.

The Farm to Freezer program will be designed to:

–        Extend the rural region’s growing season by preserving fresh fruits and vegetables at a new facility using advanced IQF technology that retains the fresh-grade nutrition levels.

–        Increase local market revenues for local rural farmers and growers to scale their production by providing a 12-month guaranteed purchase order for produce.

–        Expand access to local, nutritious food throughout the year for residents of Maryland’s Eastern Shore by extending the accessible season to local produce through the advanced processing and distribution system.

–        Set an example for other regional parts of Maryland to improve their food systems by replicating and adapting their own Farm to Freezer programs.

“We value our growing partnership with the Chesapeake Culinary Center and thank the USDA for supporting this project and its contribution to ESEC’s mission of solving regional problems through innovation and technology,” said Mike Thielke, executive director of ESEC.

The USDA funding is made possible through a grant program administered by the Agricultural Marketing Service (AMS) as part of the Local Agriculture Marketing Program (LAMP): the Regional Food System Partnerships (RFSP). In total, RSFP awarded $14.8 million to 30 projects across 24 states to support partnerships that connect public and private resources to plan and develop local or regional food systems.

“The new Regional Food System Partnerships grants will help build a fairer, more transparent food system rooted in local and regional production where businesses can compete fairly, because a greater share of the profit will go to those growing, harvesting, and preparing our food,” stated Agriculture Secretary Tom Vilsack in a USDA press release.

About ESEC:

Eastern Shore Entrepreneurship Center (ESEC_ is a 501(c)(3) nonprofit organization created in 2004 to help advance an entrepreneurship ecosystem on Maryland’s Eastern Shore. ESEC’s initiatives include the Chesapeake Agricultural Innovation Center (CAIC), CyberAg Symposium, F3 Tech, and hotDesks co-working. The programs encourage the organic development of high-growth, innovative, and scalable businesses and the jobs they create, with an emphasis on the region’s traditional industries of agriculture and seafood.

Hub Group (Nasdaq: HUBG) announced today that it acquired Choptank Transport, Inc. (“Choptank”), an industry-leading provider of non-asset refrigerated transportation solutions. Since its founding in 2000, Choptank has achieved one of the fastest growth rates in the industry with its expansive network of over 20,000 carriers throughout North America, specializing in chilled and frozen solutions. The acquisition bolsters Hub Group’s presence in the refrigerated transportation space and adds a complementary offering to serve its customers’ multimodal transportation and logistics needs. The addition of Choptank is an important strategic milestone toward achieving Hub Group’s goal of over $6 billion of revenue by 2025.

“We are excited to welcome Choptank’s employees, customers and carriers to Hub Group,” said Hub Group Chairman and CEO David Yeager. “This acquisition delivers on our strategy to provide the industry’s premier supply chain solutions, and will advance our position in the growing cold-chain segment.”

The acquisition enhances Hub’s over-the-road refrigerated transportation solutions offering, and complements its growing fleet of 450 refrigerated intermodal containers. Hub Group intends to further invest in its refrigerated transportation offering by purchasing 550 refrigerated intermodal containers in 2022, bringing the size of its fleet to 1,000.

Choptank adds scale to Hub’s brokerage service line, with combined revenue of over $1 billion across dry van, refrigerated and LTL freight expected for 2021. The acquisition is expected to result in numerous complementary cross-selling opportunities for both Hub’s and Choptank’s customer bases. With this transaction, Hub’s non-asset business lines will contribute over 40% of total revenue.

In addition to its expansive carrier network, Choptank’s 400 employees will join Hub Group. The company has developed a best-in-class proprietary technology platform that Hub will leverage to enhance its Brokerage operation.

“Our team is excited to join Hub Group,” said Choptank CEO Geoff Turner. “We share similar values of service, integrity and innovation, which we are excited to bring together to fuel our continued growth. Choptank brings our wealth of industry experience, a strong carrier network, and innovative technology that, when combined with the industry presence and reputation of Hub Group, will unlock value for our customers and move our business forward.”

Cash consideration for the transaction of $130 million was funded by cash on hand. In connection with the acquisition Hub Group granted contingent compensation to the owners and senior management team of Choptank to incentivize their retention and drive continued growth of the business. Choptank expects to generate over $450 million of annual revenue in 2021.

Winston & Strawn LLP served as lead legal counsel to Hub Group on the transaction. Stifel and McAllister, DeTar, Showalter & Walker LLC acted as financial advisor and legal counsel, respectively, to Choptank on the transaction.

5Metis, an F3 Tech 2021 Accelerator portfolio company, has just raised $10 million from investors in an oversubscribed Series A Preferred Stock financing round. This marks the largest investment deal in the history of the Accelerator program, supported by the Eastern Shore Entrepreneurship Center, a non-profit, and the U.S. Economic Development Administration. 5Metis is a new pure-play discovery company for crop protection and plant health technologies.

“The companies we have invited to this year’s program are more mature than ever before and represent some of the best investment opportunities and talent our industrial partners desire,” said F3 Tech Program Director Chris Hlubb. “It’s the largest amount any company has raised during our program, and we are excited to work with the management team at 5Metis to begin commercializing their technology through partnerships.”

Founded in 2021, 5Metis uses the technology platforms of two leading agricultural technology companies, Boragen Inc. and AgriMetis, LLC to combine boron-based small molecule discovery and synthetic biology for discovering new modes of action for crop protection. Through the accelerator program, F3 Tech will now work with 5Metis to expedite commercial outreach and partnerships for the company.

Headquartered in Research Triangle Park, NC, 5Metis is led by agricultural industry veterans Steve Tuttle, Brian Green and Hannah Webb. Tuttle has held senior positions within Dow AgroSciences and the Dow Chemical Company, including serving as its global business director for the insecticides and fungicide portfolios. Green, a co-founder of AgriMetis – one of the parent legacy company of 5Metis – has led research programs at several chemical companies and Johns Hopkins University. Webb, a microbiologist, manages business development at Boragen, the other parent legacy company of 5Metis.

“There’s need in the market to bring new modes of action to the industry for crop protection and plant health,” Tuttle told WRAL TechWire in an exclusive interview. “If successful, the company will yield solutions for growers and farmers that could boost crop protection and crop health.”

About F3 Tech

The F3 Tech Accelerator Program provides funding and support for early-stage companies to prepare them for potential investment from the future F3 Tech Seed Fund, industry partners, and investors. For more information, please visit: https://f3tech.org/.

Easton Airport is excited to invite the public to a special fall edition of the Walk & Talk airport open house series. The event will offer the community an on-site tour of the community airport with a trek through designated sections of the airfield on October 14, 21, and 28.

Attendees will pre-register and join airport management for the walking tour. The event will be informative and engaging, offering a behind the scenes look at airport operations and the business side of aviation. Airport management expects the event will help the community gain a new perspective of the airport, learn about its history, and see how it has become the “Aviation Gateway to the Eastern Shore” over the years.

“We had a great response from our spring Walk & Talk series and we are excited to invite the community back out this fall,” Easton Airport Manager Micah Risher said. “Attendees enjoyed the opportunity to observe our operations, see aircraft up-close, and ask lots of great questions.”

Spring 2021 Walk & Talk participants learned about the environmental and safety practices on the community airfield.

The tours will begin at 10 a.m. near the picnic area outside the Easton Airport terminal. The group goes beyond the gates and walks a 1-mile loop to the Easton Air Traffic Control Tower and back. During the walk and conversation, management will make stops to look and take photos at hangars, aircraft, and other equipment that are out. The tour will end back at the terminal where photo-ops with the F-104 Starfighter, donated to Easton Airport by Tom Blair, will be available.

The May 2021 series registered over 100 guests for the opportunity to take the behind-the-scenes tour at the airport. The successful Easton Airport Day, held on September 25, saw the largest crowd ever gathered on the airfield for an event, but folks are still eager to learn more about the airfield and see what flying is all about.

“People love being able to walk the tarmac, learn about the airport, and visit with some of our businesses,” Easton Airport Business & Marketing Coordinator Jeff Lankford said. “The walking tour is the best way to learn and explore a unique economic driver for Talbot County.”

Pre-registration for the October Walk & Talk dates is required so airport management can share important information prior to arriving at the airport. No 4-legged friends are permitted on the tour. Comfortable walking shoes, camera, sunscreen, and weather appropriate clothes are the only other things needed to enjoy a morning on the community airfield. Visit www.eastonairport.com to learn more and register for available dates.

Easton Airport (ESN) is a general aviation airport located two miles north of historic downtown Easton, Maryland in Talbot County. The airport is owned and operated by Talbot County and provides essential access for aviation enthusiasts, corporate pilots, and local businesses. Easton Airport is one of the busiest general aviation facilities in Maryland, linking Talbot County to the rest of the world. For more information, visit www.eastonairport.com or follow the airport on Facebook and Instagram @EastonAirport.