Biofuels Startup Golden Leaf Secures $250,000 Series A

The New Orleans Startup Fund, which is funded through private donations and public programs, announced today that Golden Leaf Energy has closed its first round of financing. The Startup Fund made an initial investment of $50,000, allowing Golden Leaf to secure additional funding of $200,000, bringing the total to $250,000. The financing provided will create 11 new jobs and help expand production.

CEO and President of Golden Leaf Energy, Troy Clark, said, “The investment from the Startup Fund allows us to move our plant to full production. It expands our operations and gives us the ability to bring more product to the ever-expanding biofuels market.”

Golden Leaf Energy was founded by Troy Clark and Dr. Calvin Mackie, both entrepreneurs with years of experience. The company produces and distributes a clean-burning, renewable fuel called biodiesel. The key is sustainability and the company’s energy production is, “yet another indication that our region is serious about supporting and growing businesses,” according to Nolan Rollins, President and CEO of the Urban League of Greater New Orleans.

Their facility in Harvey manufactures the alternative to petroleum-based diesel and converts natural oils, fats, and grease into biodiesel. Since the company’s founding in 2008, it has found a number of commercial clients including the film production industry in Louisiana.

“Greater New Orleans, Inc. is pleased to see the Startup Fund invest in Golden Leaf Energy,” said Michael Hecht, President/CEO of Greater New Orleans, Inc. “Golden Leaf Energy’s production of biodiesel fits squarely within the Emerging Environmental sector, a sector targeted by GNO, Inc., because of its high job growth potential in Southeast Louisiana. Biofuels, including biodiesel, reduce our dependence on foreign energy, and companies like Golden Leaf Energy enhance Louisiana’s critical role as a significant producer of this nation’s energy.”