NEW HAVEN — Guilford’s Greenleaf Biofuels, LLC, recently closed on funding with Sovereign Bank for its ten-million-gallon-per-year multi-feedstock biodiesel plant in the port of New Haven.
The facility will be located at the New Haven Terminal property at 100 Waterfront Street. The plant will be an estimated 8,500 square feet in size, along with a 3,600-square-foot tank farm with eight tanks.
Greenleaf says the plant will be the largest biofuel facility in New England, and the first with deepwater and rail access. The company anticipates 20 full-time jobs will be created, with the possibility for more in the future. Additional temporary construction jobs are also anticipated over the next year.
The Connecticut Community Investment Corp. (CTCIC), in conjunction with the SBA 504 program, will assume almost half the Sovereign term loan once the plant is up and running.
The state’s Department of Economic & Community Development (DECD), and Advantage Capital Partners/Ironwood Capital also were financial participants in the project.
ENFIELD — Solar panel manufacturer STR Holdings Inc., will shut down operations at a Florida factory and consolidate into a central facility in East Windsor.
STR expects to exit its 20,000-square-foot leased facility in St. Augustine, Fla., by the end of the year. Production will be consolidated into its 275,000 square foot East Windsor facility along with machinery and employees from Enfield and Storrs. The company expects 45 jobs to be lost as a result of the Florida closure.
A company statement says the move is motivated by a slow market, as well as a desire to operate at a lower cost.
The closing is expected to result in $1.2 million in pre-tax charges, less than half of which will go toward employee severance and other costs. STR says it expects pre-tax cash savings of $1 million annually.
The plant closure comes after STR was recently named the top company in the energy/environmental category by the Connecticut Technology Council in Connecticut’s 2011 “Marcum Tech Top 40,” which ranked the fastest-growing tech companies in the state.
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