Innovation Fuels Announces a Landmark Voyage

This was sent to my inbox today – thought you all might be interested:

Innovation Fuels, the rapidly emerging, New York-based renewable fuel company that manufactures, markets, and distributes biodiesel fuel to customers around the world, has announced that it has produced the first-ever biodiesel (more than 15,000 barrels or 2,000 metric tons) to leave New York Harbor bound for Rotterdam.  This marks the initial shipment serving European customers through Innovation Fuels Europe, a joint venture between Innovation Fuels and Arpadis Group.

The landmark voyage follows the company’s recent closure on a $15.5 million financing round led by Credit Suisse Customized Fund Investment Group on behalf of New York Common Retirement Fund (”NYCRF”) , RNK Capital, and Lyrical Partners. Innovation Fuels is the first biodiesel refinery company supported by all three institutional investors. 

“The initial shipping of biodiesel from the New York Harbor is wonderful validation for Innovation Fuels,” remarked John Fox, CEO for Innovation Fuels.  “Our strong global reach continues to be instrumental in supporting the growth of our business.”

“We are looking forward to receiving the first shipment of biodiesel through our Innovation Fuels Europe joint venture,” commented Laurent Abergel, Managing Director and Chairman of the Board of Arpadis Group.  “This is a wonderful next step to serve Europe , the largest market for biodiesel in the world.”

For more information, check out the Innovation Fuels website.