(AP) — The Kansas Bioscience Authority will spend $750,000 to buy a nearly 4 percent stake in a company that makes biodegradable plastics.

The Lawrence Journal-World reports  the investment in Green Dot Holdings, of Cottonwood Falls, was one of three loans and investments totaling $1.8 million approved Monday by the agency’s executive committee.

The Bioscience Authority helps new Kansas companies in the biosciences and life sciences fields. A strategy adopted this spring focuses more on investments that will provide returns than in awarding grants.

Committee members also approved a $700,000 loan to SmartVet USA Inc., of Olathe, to help build a plant that will make medicine capsules for cattle.

An investment of about $300,000 was approved for a third company whose identity remains confidential for now at the firm’s request.

___