LONDON, November 7, 2013 /PRNewswire/ --
Customers seeking premium quality, reliable and sustainable biofuels will have greater choice. This follows a $12m investment in expanding the supply chain, production and feedstock capabilities of sustainable energy sector leader Ennovor Group.
The enhancements are being financed by a $12 million dollar capital raise led by Black Pearl Capital. Ennovor Group will invest the proceeds of the financing during the fourth quarter of 2013 to fund capacity growth at its Bromborough Facility and to expand its European tolling programme. The company has also recently expanded its supply chain activities in Asia, the Middle East and Southern Africa by setting up regional offices in Singapore, Dubai and Hong Kong.
"We are very excited about the progress of our production plant upgrades in the UK," notes Ennovor CEO, David Frohnsdorff. "This round of financing allows us to complete further upgrades to our facilities, which are required to meet the strong demand from our customers."
Ennovor Group has experienced monthly production volume growth since the first quarter of 2013.
"Over the last twelve months, our team at Ennovor Biofuels has demonstrated its ability to produce high quality biodiesel," adds Abbas Jafarian, COO of Black Pearl Capital. "Expanding our global production facilities enable us to rapidly capitalise on the growth of our global feedstock procurement programme."
About Ennovor Group
Ennovor Group is a sustainable fuels company and is part of the Black Pearl Capital Group. Our existing portfolio includes a vertically integrated biofuels company, which has full control of its supply chain through to its biodiesel production.
Established in 2010, we are rapidly becoming one of Europe's leading biofuels producers. Our current production capacity exceeds 100,000MT annually, making us one of the largest biofuel processors in the UK. Our target is to become one of the largest second generation biodiesel producers globally, and we are committed to increasing our global capacity to 400,000MT by mid-2015. Find out more at http://www.ennovorgroup.com.
About Black Pearl Capital Partners
Black Pearl Capital Partners is a private equity fund created and managed by Black Pearl Capital (BPC). BPC is an asset management firm registered in the Cayman Islands, with headquarters in Switzerland and offices throughout Europe and the Middle East. For more information, visit http://www.blackpearlcap.com
SOURCE Ennovor Group