FOR IMMEDIATE RELEASE: July 26, 2012
Local Entrepreneur Will Expand Biofuels Plant Production
Investment of $250,000 for biofuels innovation
NEW ORLEANS — Today, the New Orleans Startup Fund announced the closing of an initial round of financing for Golden Leaf Energy, a company that produces and distributes biodiesel to commercial clients, including the Louisiana film production industry. This investment will allow the company to create 11 new jobs and expand its operating capacity. The Startup Fund is making an investment of $50,000, an amount which Golden Leaf Energy leveraged to secure an additional $200,000 in funding.
“The Startup Fund is excited to invest in Golden Leaf Energy, and we applaud their success in completing this recent capital raise,” said Leslie Jacobs, CEO of the Startup Fund. “Addressing Golden Leaf Energy’s capital needs will allow the company to create new jobs and expand production, and I am confident Golden Leaf will be another successful New Orleans startup.”
Golden Leaf Energy produces high quality biofuels by converting natural oils, fats, and greases into biodiesel. Founded in 2008, Golden Leaf manufactures and distributes its product commercially and operates a 2.2 million gallon multi-feed stock facility in Harvey, La.
“The investment from the Startup Fund allows us to move our plant to full production,”said Troy Clark, President & CEO of Golden Leaf Energy. “It expands our operations and gives us the ability to bring more product to the ever-expanding biofuels market.”
“Greater New Orleans, Inc. is pleased to see the Startup Fund invest in Golden Leaf Energy,” said Michael Hecht, President & CEO of Greater New Orleans, Inc. “Golden Leaf Energy’s production of biodiesel fits squarely within the Emerging Environmental sector, a sector targeted by GNO, Inc., because of its high job growth potential in Southeast Louisiana. Biofuels, including biodiesel, reduce our dependence on foreign energy, and companies like Golden Leaf Energy enhance Louisiana’s critical role as a significant producer of this nation’s energy.”
“Innovation is the key to developing and maintaining a strong and diversified economic base,” said Nolan Rollins, President and CEO of the Urban League of Greater New Orleans. “Golden Leaf’s alternative energy production is yet another indication that our region is serious about supporting and growing businesses.”
Golden Leaf Energy’s founders, Troy Clark and Dr. Calvin Mackie, have extensive entrepreneurial experience and strong local ties to the community. Mr. Clark brings over 12 years of entrepreneurial and business experience to Golden Leaf Energy. Prior to founding Golden Leaf Energy, he served as the chief executive for a granite and construction company. Dr. Mackie is an award-winning mentor, author, a former Tulane engineering professor, an internationally renowned motivational speaker, and an entrepreneur; he has led the personal development consultant firm Channel ZerO Group for over 20 years.
The New Orleans Startup Fund is funded through a combination of private donations and public programs, including the Louisiana Economic Development Corporation, U.S. Economic Development Administration, and the Louisiana Office of Community Development/Disaster Recovery Unit.