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From North Iowa Area Community College, www.niacc.edu John Pappajohn Entrepreneurial Center News The North Iowa Venture Capital Funds (NIVCF) announced today an exciting investment in Freedom Fuels LLC of Hampton, Iowa. Freedom Fuels is scheduled to build a 30-million-gallon biodiesel plan in Mason City. The plant will process soybean oil into biodiesel with a byproduct of glycerine which is used in soaps and laundry products.
“The North Iowa Venture Capital Fund, LLC is excited to be investing in Freedom Fuels. Our investment not only brings new industry to North Iowa, but also brings new employment and economic growth to the area. We are pleased to be a part of new business success that will add to the growth and benefits of living in North Iowa,” said Bob Lembke, NIVCF President.
The NIVCF has received over 80 opportunities to invest in companies in Iowa and elsewhere. To date over $1 million has been invested in six Iowa companies with over half of that in companies in North Iowa. The NIVCF is comprised of 61 investors from 15 different communities through North Iowa. It is a for profit fund looking to invest in North Iowa and provide both financial and business support to assist in the growth of those companies with the goal of returning a profit to the investors and economic development as a by product. The fund is administered by North Iowa Area Community College John Pappajohn Entrepreneurial Center.
The John Pappajohn Entrepreneurial Center is located on the North Iowa Area Community College campus in Mason City, Iowa and provides college level courses and degree programs in entrepreneurship, as well as consulting services for business start-ups and existing industries in the North Iowa region. The Center also provides FastTrac training programs both for beginning companies and existing companies. For more information, please contact Jamie T. Zanios at 641-422-4162.
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