Najafi Companies Buy Interest in Bio-Diesel Firm - PhoenixCEOCFO.com

Najafi Companies Buy Interest in Bio-Diesel Firm

Phoenix-based capital company, Najafi, has bought a majority investment in a bio-diesel firm, Phoenix-based Solverdi. The company retrofits existing bio-diesel plants that currently use the old transesterification processes. The Solverdi process converts renewable materials into fuel without the use of chemicals such as methanol and caustics. Solverdi's renewable fuel efforts are first being targeted at serving large users of bio-diesel such as the U.S. military.

The U.S. military is one of the largest consumers of bio-diesel. Military fleets began using a mix of 20% bio-diesel (B20) in 2001 as a way meet the requirements under the Energy Policy Act. Most of the military obtains their bio-diesel from the Defense Energy Support Center (DESC) which is the largest single purchaser of bio-diesel in the country. During 2003-2004 Military bases purchased 5.2 million gallons of B20.

Najafi announced in December 2007 that it intends to invest $100 million into alternative energy through a new portfolio company, Energy Capital Investments. Najafi will provide funding to Solverdi, LLC in return for majority interest. "These are unprecedented times for the growth of alternative energy in our country, and we're thrilled to partner with Solverdi, which is positioned to rise exponentially in the renewable biodiesel space," said Jerry Pence, a partner with the Najafi Companies.

John Laub is the Chairman of the Phoenix CEO-CFO Group.

1. "Najafi Companies/Energy Capital Investments, LLC Purchase Majority Interest in Solverdi, LLC: Solverdi, LLC to Build 'Micro-Projects' in Renewable Biodiesel Market." PRNewswire. Najafi Company Press Release. August 4, 2008.

2. "U.S. Military Facilities Increasingly Fill Up With Biodiesel." Jenna Higgins. Press Release of the National Biodiesel Board. June 16, 2003.

3. "Biodiesel Policy Package." State Environmental Service Center.
http://www.serconline.org/biodiesel/background.html