Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Clean tech startup raises $7 million to ramp up manufacturing in Buffalo



Green Machine Equipment, which makes battery-powered industrial machinery, claims its systems are zero-emission, 50% quieter and 90% less expensive than standard diesel-powered systems.

The company recently moved into a vacant, 850,000-square-foot manufacturing plant in Buffalo, N.Y., which once employed 650 workers. Green Machine Equipment only employs 10 people, but expects to add 28 more jobs in the near future.

Its growth is being supported by a 10-year, $1.4 million equipment and inventory loan from the Buffalo and Erie County Regional Development Corp. It has also raised $4 million from unnamed private investors for research and development, and $1.6 million in working capital financing from the Western New York Impact Fund and KeyBank.

  • Modern manufacturing… Green Machine Equipment is bringing green jobs to a manufacturing plant that once made auto parts. The plant has been vacant since 2007, when General Motors’ company American Axle operated out of the facility for 85 years before closed up shop.

You might also like...