Sustainable Jobs Fund, LP Invests in EvCo
Research
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
David
Kirkpatrick
~~~~~~~~~~~~~
Sustainable Jobs Fund, LP
400 W. Main St.,
Suite 604
Durham, NC 27701
Voice (919) 530-1177
Fax (919)
530-1178
www.sjfund.com
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.