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PRESS RELEASE
Growing Green: Eco-Products Secures $2 million Series A
Investment from Greenmont Capital Partners
Funds to help meet demands of unprecedented company growth
BOULDER, Colo., Sept. 2, 2008 --
Eco-Products, the nation's largest supplier of food service
items made from renewable resources, closed a $2 million
Series A investment on Aug. 28 with Greenmont Capital
Partners, a Boulder-based private equity group. The capital
will be used to meet the soaring demand for biodegradable
and compostable products. Eco-Products was selected as the
first investment for Greenmont’s second fund, Greenmont
Capital Partners II.
“I’m honored that Greenmont Capital selected Eco-Products to
kick off their second fund because it gives Eco-Products the
push to expand further into the food service industry,” said
Steve Savage, founder and president of Eco-Products. “Since
Greenmont focuses on companies in the Lifestyles of Health
and Sustainability (LOHAS) market, their mission and values
are well aligned with Eco-Products’ goals,” Savage added.
With expansion plans on the horizon, Eco-Products is poised
to take advantage of Greenmont’s experience in assisting
natural products companies through periods of rapid growth.
Additionally, Ellie’s Home Store, Eco-Products’ first green
department store, will open in Boulder this November to
offer consumers a one-stop shop for all environmentally
friendly household wares.
Greenmont Capital’s seasoned team, consisting of many
founders of the natural products industry, has more than 150
years combined natural products experience.
“As consumers continue to seek and support value-based
companies and eco-friendly items, Eco-Products is well
positioned to increase its reach,” said Todd Woloson of
Greenmont Capital Partners. “We recognize their potential to
influence responsible purchasing decisions — away from
plastics and towards renewable resources. They are leading
the movement,” Woloson noted.
Eco-Products provides compostable food service supplies,
made from plant-based renewable resources, to myriad
organizations. Notable clients include Google, Stanford
University, Sysco, SeaWorld, Toyota, US Foodservice, Rocky
Mountain National Park, Sodexo, Hilton Hotels, Ritz-Carlton,
ESPN X-Games, Limited Brands, Bonnaroo Music Festival and
thousands of cafes, restaurants and other businesses
nationwide.
About Eco-Products, Inc.
Eco-Products is the nation's largest manufacturer of
biodegradable and compostable food service products.
Products are made from renewable resources such as corn and
sugarcane instead of petroleum, thus offsetting the United
States’ need for foreign oil. Eco-Products also provides a
full line of healthy, eco-conscious home cleaning products.
Visit
www.ecoproducts.com for more information.
About Greenmont Capital Partners
Greenmont Capital Partners is a venture
capital fund founded by natural product industry insiders.
The company focuses on early-stage companies in the $500
billion LOHAS (Lifestyles of Health and Sustainability)
market. Greenmont’s management and investment committee
personnel have served on the boards of numerous companies,
including Crocs, Whole Foods Markets, Celestial Seasonings,
White Wave, Gaiam, EcoTimber, Aurora Organic Dairy, Nude
Skincare, Fresh & Wild, Seventh Generation, Wild Oats
Marketplace, Blue Sun Biodiesel, Ganeden Biotech, EcoSmart
Technologies, Horizon Organic Dairy, Traditional Medicinals,
RSF Social Finance, Alfalfa’s Markets and IZZE Beverage Co.
Additionally, each partner has been a venture-backed CEO,
contributing firsthand entrepreneurial experience and the
ability to facilitate positive relationships between
operators and investors. Visit
www.greenmontcapital.com for more information.
For more
information, contact Jen Marshall
with
The Fresh Ideas Group at (303) 449-2108, ext.
18 or
[email protected].
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