|Contact: James Badgley
|For Immediate Release|
COLUMBIA, MD – CBO Financial announced today the launch of a new subsidiary entity, Community EcoFinance, LLC (CEF), with a mission to drive investment in environmental technologies to low income communities with an emphasis on rural areas.
CEF’s immediate objective is to drive investment and jobs to rural, distressed areas from the rapidly emerging industry involving the commercial production of algae. In coming years, as the world looks more and more toward truly sustainable options to feed our insatiable appetite for energy, the algae biofuels industry is expected to explode. Through photosynthesis, algae converts carbon dioxide into oxygen and can contain up to 55% oil—the kind of oil we pump up from the ground, which is actually from ancient algae. The oil produced can be harvested and refined to create a wide array of high value byproducts for the consumer marketplace. Algae is very environmentally friendly; and there are over 20 different applications for the oil, including biodiesel and Omega‐3‐rich “nutraceuticals.” Due to recent technical breakthroughs, the production of algae biomass and algae oil is ready for commercial‐scale production, giving rise to tremendous promise for rapid creation of high quality jobs and environmental sustainability.
The commercialization of algae production offers an exciting opportunity for economic development by offering a turn‐key solution for recycling unwanted CO2 into the creation of a usable consumer product that will create green‐collar jobs in the community. CEF’s business model will achieve this via adaptive reuse of vacant factory and warehouse buildings. By also including classrooms for vocational training and a system manufacturing plant, this business model will not only recycle unwanted CO2 in order to generate of a usable consumer product, but will create green‐collar jobs in the community.. CBO has initiated a strategy to drive investment in this emerging industry to rural, distressed areas.
CBO Financial’s CEO Craig Stanley recently stated “Community EcoFinance is our vehicle to drive investment in the emerging algae to oils industry into highly distressed, rural communities. We are currently in the process of financing almost 20 projects, all of which are accomplishing the adaptive re-use of large, previously vacant facilities, turning them into vibrant employment centers that help to eliminate blight in the surrounding area. We are very excited to be involved with these innovative companies that are truly breaking new ground.”
Emergence of the commercial algae production industry presents a major opportunity for CEF and other economic developers to help spark the next generation of skilled jobs, while resuscitating dormant factories, capturing CO2 and providing entry level access to high quality jobs via training programs. The industry is about to come of age with billions of dollars on the verge of being invested; CEF’s project model is designed to drive this investment to rural LICs where it’s needed most.
CBO Financial, Inc. is a financial consulting firm that aids social service organizations in the development and financing of facility construction projects that will result in helping to revitalize communities and benefit populations in need.
Founded in 1999, CBO has helped facilitate the investment of $800 million for the benefit of community- based development projects. CBO’s goal has always been to contribute to the revitalization of low-income neighborhoods by providing outside investment and project management for the development of facilities that help to attract new businesses and create jobs—transforming communities and the lives of people who call them home. CBO Financial, Inc. is headquartered in Columbia, Maryland.
For more information please visit www.cbofinancial.com