Sustainable Jobs Fund, LP Invests in EvCo
FOR IMMEDIATE RELEASE
June 12, 2002
Durham, NC and Atlanta, GA. The Sustainable Jobs Fund, LP (SJF), a $17 million venture capital fund that invests in sustainable companies that generate quality entry-level employment, today announced its $500,000 investment in EvCo Research LLC (EvCo) of Atlanta, GA. EvCo produces water repellent and strength-enhancement coatings for the paper and packaging industries. The EvCo coatings utilize patented polyester compounds derived from recycled PET soft drink bottles. Cardboard boxes protected by EvCoteT are fully recyclable and replace non-recyclable paraffin wax boxes.
"We're excited to help fund EvCo's growth," said David Kirkpatrick, SJF Managing Director. "EvCo is a great fit for SJF - the company has proprietary products with both strong market advantages and environmental benefits. In addition, production of their resins will help create quality employment in rural Georgia."
In May 2002, International Paper introduced a new wax-free poultry package nationwide that utilizes EvCo products. The Albertson's grocery store chain estimates that they have already saved $14 million in avoided waste disposal fees on wax boxes by moving to wax-free cardboard on which they earn recycling revenue. Other key partners utilizing EvCo products include the Newark Group, Inland Container, Madison-Oslin, and Coca-Cola.
"We appreciate the support of the Sustainable Jobs Fund," said Scott Seydel, EvCo President. "EvCo has achieved several business breakthroughs this year and SJF is allowing us to effectively follow through for substantial market, ecological, and employment results."
EvCo is SJF's 11th portfolio company. SJF invests throughout the eastern United States from its offices in Durham, NC and Philadelphia, PA. The Fund has invested $5.3 million to date in businesses located in GA, PA, MD, NY, DE, MA, NJ, TN, and FL which together employ more than 1,250 people. For more information on SJF or EvCo, visit www.sjfund.com or www.evco-research.com
Sustainable Jobs Fund, LP
400 W. Main St., Suite 604
Durham, NC 27701
Voice (919) 530-1177
Fax (919) 530-1178
The Sustainable Jobs Fund, L.P. (SJF) helps build great companies. We invest in enterprises whose rapid growth provides quality entry-level employment. SJF invests from $250,000 to $1 million in financing rounds up to $5 million. SJF specializes in firms that provide unique products and services that are sustainable. SJF will consider any financing opportunity in the Eastern U.S. that offers excellent employment and financial returns. SJF is a long-term partner with portfolio firms, providing follow-on financing, board involvement, management support, and workforce development assistance.