EnviRelation Wins Business Plan Competition, Secures $100,000 Investment via the District’s CAPCO Program
EnviRelation will be expanding its business with the $100,000 investment it was awarded from winning the DC Business Plan Competition:
EnviRelation, a District-based environmentally sustainable food composter and winner of the 2010 Washington, DC Business Plan Competition, today secured an investment of $50,000 from Advantage Capital Partners and $50,000 from Enhanced Capital Partners via the District’s CAPCO Program. These funds will be used to expand this young business and position it for future growth.
“We appreciate the recognition and support that this investment brings to our innovative company. This exciting opportunity to grow our business would not have occurred but for the Washington, DC Business Plan Competition and the District’s small business investment tax credit program, known as CAPCO,” said Walker Lunn, Founder and CEO of EnviRelation. Lunn continued, “Working capital from commercial banks is not readily accessible for small but fast-growing companies like ours, and the District is fortunate to have a CAPCO program that it is specifically designed to provide access to capital to District-based businesses in need of funds to grow.”
The Washington, DC Business Plan Competition is an annual collaboration between the Washington, DC Economic Partnership and the Washington, DC Coalition for Capital.
“We are very pleased that the Washington, DC Business Plan Competition succeeded in highlighting some of the District’s most exciting small businesses and concepts,” said Ben Dupuy, President of the Washington, DC Coalition for Capital. “We wish EnviRelation much success in expanding its environmentally sustainable waste management business, and we look forward to working with the Washington, DC Economic Partnership again in 2011 to continue this successful competition.”
About EnviRelation
EnviRelation offers a composting service to food-related businesses. By composting organics, EnviRelation reduces greenhouse gas emissions that lead to global warming, contributes to (continued) Washington, DC Coalition for Capital Press Release September 23, 2010 Page Two cleaner local water ecosystems, preserves biodiversity, and promotes healthier living and communities. EnviRelation provides collection for food discards, transporting them to nearby composting facilities. EnviRelation’s service is designed to help its customers save money on waste management bills, as well as improve operational sanitation. With EnviRelation’s daily service and low prices, operators have cleaner loading dock areas, improved garbage odors, and clean composting containers that attract fewer pests.
About the Washington, DC Coalition for Capital
The Washington, DC Coalition for Capital is a non-profit coalition of leaders supporting economic development and job creation through long-term access to capital for District entrepreneurs and emerging companies. Its mission includes serving as a resource for promising small and emerging District companies, entrepreneurs, investors, economic developers, and other stakeholders within the city’s emerging investment infrastructure.
Date: September 29, 2010
Categories: CAPCO, Washington, DC CAPCO