Greenline Industries raises $20 million in first-round financing

By Bryan Sims | April 15, 2008
Web exclusive posted April 16, 2008 at 12:29 p.m. CST

Biodiesel technology provider and producer Greenline Industries Inc. has successfully secured a $20 million Series A preferred stock financing round with Leaf Clean Energy Co., a publicly traded London-based $400 million clean energy fund which focuses on investment opportunities in North America.

According to the company, "this initial investment will allow Greenline Industries to accelerate research and development to improve upon its existing technology and add new products to reduce the costs to produce biodiesel."

Founded in 2002, Greenline Industries' mission is to decentralize power within the biodiesel production process. The company is considered the world leader of U.S. EPA award-winning patented waterless biodiesel processors.

"We are honored to be partnered with Leaf Clean Energy since it brings Greenline Industries access to the global European Patent Convention (EPC) experience of The Shaw Group Inc. and the carbon market expertise of EEA Fund Management Ltd. through Energy & Climate Advisors, Leaf Clean Energy's appointed representative," said Greenline Industries Chief Executive Officer John Kinney. "Our customers benefit from having access to financing and services that no other biodiesel equipment provider can offer."

With offices in the U.S., Brussels, Romania and Argentina, Greenline Industries has sold more than 30 biodiesel production lines with a total production capacity of 200 MMgy. In October 2007, Greenline Industries signed a business development agreement with San Francisco-based Oil Sources Holding Group Inc., to build a 60 MMgy biodiesel facility in Miami. Oil Sources Holding Group is a sustainable energy consortium focused on harvesting, producing and distributing renewable fuels in the United States and South America. According to Greenline Industries, the project is expected to come online early 2009.

For more information on Greenline Industries and its operations, visit www.greenlineindustries.com/index.html.
 
 
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