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Buffalo Biodiesel (BBD), a used cooking oil recycler and renewable fuel producer based in Buffalo, New York, has entered a $300 million capital and growth partnership with Verite Capital Partners (VCP) to accelerate its expansion across the eastern US.
Founded in 2005, Buffalo Biodiesel operates one of the largest used cooking oil collection networks in the US Northeast, serving more than 28,000 restaurant and supplier locations. The funding will enable the company to strengthen its logistics, processing and monitoring infrastructure while scaling its renewable fuel production capacity.
The agreement will see BBD extend its collection and processing network from 15 to 25 states, spanning from Montreal to Miami. The funding will be deployed in three stages and support the construction of two new renewable natural gas (RNG) plants – one in the Northeast and another in Mississippi.
Upon full completion of the investment, VCP founder and managing partner Don Jones will become a minority owner and assume the role of chairman of the board. BBD expects to create more than 600 new jobs as part of the expansion.
Sumit Majumdar, president and CEO of Buffalo Biodiesel, said: "This partnership marks a pivotal moment not just for our company, but for the region's clean-energy future".
"With Verite's backing, we can double down on our mission: collecting used cooking oil from tens of thousands of restaurants, converting organic waste into renewable natural gas and expanding sustainably from Montreal down to Miami. The two new plants and the hundreds of new jobs they bring will deliver real economic impact across underserved markets."
Don Jones added: "We at Verite Capital believe in business with purpose. Becoming a partner and chairman of Buffalo Biodiesel allows us to invest in a growth company that aligns with our values – equity, community and clean energy".
"Together, we'll expand operations east of the Mississippi, build meaningful jobs and bring RNG production to new markets. We're honoured to join this journey and help accelerate sustainable fuel solutions while empowering communities."
Top image: © Buffalo Biodiesel
