Credit Suisse Invests in Innovation Fuels

Credit Suisse Customized Fund Investment Group, on behalf of New York Common Retirement Fund, RNK Capital and Lyrical Partners, closed on a financing round of US $15.5 million into Innovation Fuels, a renewable fuel company that manufactures, markets and distributes biodiesel fuel.

The funding was provided in order to upgrade Innovation Fuels’ Port of New York facility to produce 950,000 barrels per year, the acquisition of a development stage biodiesel plant in the Port of Milwaukee with capacity to produce 1,200,000 barrels per year and the conclusion of the development of two regional biodiesel refineries with permitted capacity of 1,300,000 barrels per year.

“We couldn’t be more excited to be partnered with Credit Suisse, RNK Capital, and Lyrical Partners, which have a strong global reach to support the continued growth of our business worldwide,” said John Fox, CEO for Innovation Fuels. “The long term benefits of this investment for Innovation Fuels are too numerous to mention.”

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