In New York state, Buffalo Biodiesel Inc announced a transformational capital and growth partnership with Verite Capital Partners. The agreement secures a planned $300 million funding program that will accelerate BBD’s expansion from a 15-state footprint to 25 states across the entire eastern United States, from Montreal to Miami.
Under the terms of the agreement:
Don Jones, founder and managing partner of Verite Capital, upon full completion of the funding, will become a minority owner of Buffalo Biodiesel and will assume the role of Chairman of the Board.
The funding will support BBD’s construction of two new state-of-the-art renewable natural gas (RNG) plants — one located in the Northeast and another in the Southeast (Mississippi).
At full funding, BBD expects to add 600+ new employees, as it scales its operations and processing infrastructure.
The funding rollout will occur in three stages, enabling organic growth from 15 states to 25 states — covering “all states east of the Mississippi” — once the rollout is fully executed.
BBD’s geographic footprint will extend from Montreal to Miami, reinforcing its east-coast and international reach.
Tags: Buffalo Biodiesel, New York, Verite Capital Partners
Category: Fuels
