CHICO, CA--(Marketwire - Jan 5, 2012) - Springboard Biodiesel and Pinnacle Capital announced this morning a new and innovative financing program designed to help US educational institutions -- public and private -- establish small-scale biodiesel production programs on their campuses.
"Turning used cooking oil from campus kitchens into fuel that will run buses and other campus vehicles is not only a proven method for any school to reduce its carbon footprint, but because the cost of making biodiesel in our BioPro™ systems is less than $1.00/gallon, it's also a great way for any school system to bring money back into its budget," said Springboard Biodiesel CEO Mark Roberts. "We have 59 colleges and universities enthusiastically using our equipment to convert used cooking oil into biodiesel. They are saving money, reducing their carbon footprint and, in many cases, incorporating the system into their sustainability curriculums. This really is a 'no brainer,' and with this financing option now available, we are excited that virtually any academic institution that feeds its students can benefit from a campus biodiesel program."
Springboard Biodiesel and Pinnacle Capital have teamed up for a timely program. "We hope that by assisting in the initial purchase, via our financing program, we can both help US educational institutions to continue to grow their sustainability programs as well as assist a US cleantech manufacturing company that has designed and built a really compelling product," said Brian Shaw, Vice President at Pinnacle Capital.
"US educational institutions are really at the forefront of making positive changes to combat global warming, and we are excited that an institution with the experience and financial savvy of Pinnacle is teaming up with us to help proliferate a meaningful clean-tech solution that can make a significant impact today," concluded Mr. Roberts.
About Springboard Biodiesel: Based in Chico, CA, Springboard Biodiesel is a leading provider of small-scale biodiesel production systems. The Company's family of BioPro™ and SpringPro™ processing systems are fully automated and enable production of ASTM D6751 biodiesel from multiple sources, including used cooking oil. In use around the world, the Company's patented systems enable the production of cleaner burning biodiesel for less than $1.00/gallon. For more information, please contact the company @ 530.894.1793 or www.springboardbiodiesel.com.
About Pinnacle Capital: Located in Tacoma, Washington, Pinnacle Capital was founded in January 2000 to originate and service equipment leases and financings to a broad range of small and medium-sized businesses and municipalities on a national level. Pinnacle focuses primarily on the small-ticket sector of the equipment leasing market. This market encompasses leases of equipment with original purchase price of less than $500,000.