Capital Corp Merchant Banking gives green light to $18m funding for Californian biodiesel project

US investment bank Capital Corp Merchant Banking has given the green light to help fund a biodiesel project in California.

In a statement, the bank said that the facility will be able to process multiple feedstocks of any quality level and turn it into B-100 biodiesel, which is 100% pure biodiesel.

A by-product of the biodiesel manufacturing process is glycerol, which, once treated, becomes glycerin that is used widely across numerous industries, including the beauty and cosmetics industry. Converting this by-product will mean less waste production as the facility will be reusing and treating its glycerol by-product toward a meaningful end, the bank said.

In a statement, Capital Corp Merchant Banking said: “The method by which this project is to be funded is the brainchild of Gilles Herard. Herard is a seasoned merchant banker and has been in the banking industry for 38 years. As the head of Capital Corp Merchant Banking, Herard has become a leading figure in international middle-market project financing and engineers all funding structures for projects at Capital Corp.”