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SAN FRANCISCO--- Greenline Industries, Inc., Raises $20 Million in first Round Financing |
| 4/7/2008 @ 6:54 AM
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Greenline Industries, Inc. the EPA Award winning leader in the design and construction of biodiesel production facilities, today announced the successful completion of a $20 million Series A preferred stock financing round with Leaf Clean Energy Company ("Leaf") , a publicly traded London -based $400 million clean energy fund focused primarily on investment opportunities in North America. This initial investment will allow Greenline to accelerate research and development to improve upon its existing technology and add new products to reduce the costs to produce biodiesel.
Greenline is a leading provider of modular waterless systems that produce biodiesel. Greenline facilities provide multiple feedstock choices through computer controlled continuous flow control technology that optimizes the mix of catalyst, methanol and oils. Greenline pioneered the innovative technology that utilizes a patented Rohm and Haas ion-exchange resin to purify the biodiesel, thereby eliminating the energy intensive problems of removing process water from the fuel and treating the wastewater. Greenline also recently introduced a non-polluting, non chemical, free fatty acid stripper pre-treatment module that enables producers to process less expensive feedstock, including virtually any quality of animal fat.
"We are honored to be partnered with Leaf since it brings Greenline access to the global EPC experience of The Shaw Group Inc., and the carbon market expertise of EEA Fund Management Ltd through Energy & Climate Advisors, Leaf's Appointed Representative" explained Greenline CEO John Kinney. "Our customers benefit from having access to financing and services that no other biodiesel equipment provider can offer."
"This is a great opportunity for Leaf to partner with a leading biodiesel technology provider, and we are excited by the prospect of helping Greenline deliver superior production solutions to the biodiesel industry," said Leaf Chairman Peter Tom.
About Greenline Industries, Inc.
Founded in 2002 by Jacques Sinoncelli and Michael Brown, the mission of Greenline Industries is to decentralize power. They are a world leader of EPA award-winning patented waterless biodiesel processors. At its core, Greenline Industries is committed to addressing the world's environmental and socio- economic issues with biodiesel production technology. With offices in the USA, Brussels, Romania, and Argentina, Greenline has sold more than 30 biodiesel production lines with an aggregate production capacity of 200 million gallons of biodiesel. Greenline may be reached at (415) 526-7600 and viewed at www.greenlineindustries.com/.
About Leaf Clean Energy Company
In 2007, EEA Fund Management Ltd teamed up with Shaw Capital, a subsidiary of the Shaw Group, to launch Leaf Clean Energy Company ("Leaf"). The fund raised 200m Pounds Sterling and is listed on AIM in London. Leaf was incorporated for the purpose of acquiring interests in, owning, operating and managing clean energy companies and projects primarily in North America. The sector spans multiple industries, including wind energy, solar energy, energy efficiency, pollution control, emission credit aggregation, waste-to-energy, wave energy, biomass power and biofuels. The company's main investment objective is to achieve long term capital appreciation through its acquired interests in the clean energy sector, as well as through the potential generation and commercialization of carbon credits derived from these projects. Leaf is advised by EEA and Energy & Climate Advisors, a joint venture between EEA and Shaw Capital.
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| FreshMoney - California Mergers/Acquisitions/Funding |
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