Renewables Business Reaffirms Growth with $30M Finance

A leading global producer of renewable fuels, distiller grains and alcohols has just been equipped with a $15,000,000 working capital facility with provision to increase to $30,000,000 as and when further working capital is required.

Referred to Sallyport by an advisory firm after conventional lenders were unable to help, the facility will be used to increase feedstock inventory levels helping to ramp sales. This will also support the business with rebuilding and strategic growth plans through the remainder of 2023 and beyond.

With a continued global movement towards clean and sustainable energy backed by existing and future government subsidies, the client sees increased emphasis on sustainable biofuels and has implemented an appropriate acquisition strategy. Implementation of new technology within the plant will substantially reduce gas and electricity consumption making their facility significantly more efficient whilst reducing their carbon footprint and harnessing carbon credits.

Nick Hart, Sallyport’s President is delighted that alternative finance has once again proved a flexible and unique solution when traditional lenders decline credit…

‘During these uncertain times, traditional banking and ABL facilities were unable to come up with a solution. Sallyport stepped in and worked side by side with our client to craft a tailored solution that supported their strategic plans.”

Sallyport Senior VP, Alexandra Scoggin commented…

“‘After many months of strategic planning, I’m very happy that we were able to create a solution that supports the continued growth of our latest client.”

We are excited to see our client’s continued growth and success in this important sector and look forward to supporting them on this next stage of their journey.