Ex-Im Financing helps company create 165 American jobs
WASHINGTON, April 4, 2013 /PRNewswire-USNewswire/ -- FirmGreen Inc. (FirmGreen), a small renewable-energy company based in Newport Beach, Calif., received the Renewable-Energy Exporter of the Year award from the Export-Import Bank of the United States (Ex-Im Bank). The award was presented at the Bank's 38th Annual Conference in Washington, D.C.
"FirmGreen is a great example of how American companies can remain globally competitive in the renewable energy sector," said Ex-Im Bank Chairman and President Fred P. Hochberg. "With great products and innovative ideas, there is no doubt that FirmGreen is a leader in this exciting field. I am proud that FirmGreen is receiving our Renewable-Energy Exporter award and look forward to working with them on future projects that protect our environment while promoting and sustaining U.S. jobs."
"Ex-Im Bank has enabled us to expand from domestic sales only to a strong and growing export business, thanks to critical financing and technical advice nobody else would provide," said FirmGreen CEO Steve Wilburn. "Our experience with Ex-Im has been overwhelmingly positive, and we look forward to collaborating on future endeavors."
FirmGreen and other U.S. green-technology suppliers benefitted from a $48.6 million loan from Ex-Bank. The Bank's financing is supporting the export of equipment and services for the development of the Novo Gramacho biogas project in Brazil.
According to FirmGreen, this project will directly generate 165 new jobs at its facilities and at other companies in seven states: Indiana, Wisconsin, Ohio, California, Michigan, Missouri and Texas.
The loan borrower, Gas Verde S.A., is the project owner and will operate the Novo Gramacho biogas plant located at the 140-hectare Jardim Gramacho landfill near Rio de Janeiro. The biogas plant will convert the site's "dirty" methane gas (a by-product of trash decomposition that lingers for years and is more environmentally harmful than carbon dioxide) into clean, usable biomethane gas.
Over the last four years (FY 2009 through FY 2012), Ex-Im Bank has provided increased financing for American-made renewable-energy exports to global markets. This support shows an overall positive trend ($355.5 million in FY 2012, $721.4 million in FY 2011, $332 million in FY 2010 and $101 million in FY 2009).
Ex-Im Bank's 2013 Annual Conference will feature prominent members of the business and government community including Vice President Joe Biden, Transportation Secretary Ray LaHood, former Treasury Secretary Larry Summers, former National Security Advisor General James Jones, Xerox Corporation CEO Ursula Burns, and Citibank Chairman Michael O'Neill. A full listing of speakers, panelists, and moderators is available on Ex-Im's website: www.exim.gov
FirmGreen Inc. is a privately held, integrated energy company that participates in virtually all aspects of the global green-energy business. FirmGreen identifies, develops and commercializes new and emerging technologies and alternative fuels. The company has 37 employees at its headquarters in Newport Beach, Calif., its lab and manufacturing plant in Kokomo, Ind., and its green-energy project-financing operations in New York City. The company also has U.S.-based employees in Brazil. For more information on this privately held, entrepreneurial organization, please visit www.firmgreen.com, Facebook and Twitter.
About Ex-Im Bank
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.
Ex-Im Bank approved nearly $35.8 billion in total authorizations in FY 2012 – an all-time Ex-Im record. This total includes more than $6.1 billion directly supporting small-business export sales – also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $50 billion in U.S. export sales and approximately 255,000 American jobs in communities across the country. For more information, visit www.exim.gov.
SOURCE Export-Import Bank of the United States