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MeltBlown Technologies procures investment from Advantage Capital

YarnsandFibers News Bureau 2019-11-06 08:42:19 – USA

Advantage Capital announced an investment in Global Environmental Enterprises, LLC (d.b.a. MeltBlown Technologies), a leading manufacturer of industrial absorbents. The investment was made through the GARJA (Georgia Agribusiness and Rural Jobs Act) program and supports the company’s anticipated growth while adding over a half-dozen jobs in the near term.

MeltBlown produces premium polypropylene oil and chemical sorbents that are primarily used in spill control and cleanup, including in large-scale open water environmental cleanup initiatives such as after an oil spill. The company largely sells to safety, environmental, industrial and janitorial distributors.

“This investment will allow us to purchase new equipment for our production line and expand our operations,” says MeltBlown’s president Derek Yurgaitis. “I’m thrilled to have the opportunity to grow our company and bring much-needed jobs to the community of Sandersville.”

Sandersville faces similar issues that confront other towns in rural Georgia. Over the past year, the town has seen negative job growth leading to an unemployment rate of 1.5 times the national average, and over two-thirds of the population currently lives under the poverty line.

The GARJA program is aimed at encouraging investments in businesses such as MeltBlown to help reverse the economic decline in rural parts of the state.

“It is great to see the GARJA program at work helping to bring new investment dollars to our area,” said State Representative Mack Jackson (D-Sandersville). “We have a wonderful community here, but we want to see the local economy grow. Part of that means making sure people have jobs that allow them to support their families.”

“We have seen great results through our participation in the GARJA program, and we are excited to continue working with rapidly growing companies such as MeltBlown,” says Abhi Chandrasekhara of Advantage Capital. “We customized a financing solution for the company to position it for future growth potential. We are excited to continue investing across the state to help strengthen local economies and grow jobs in rural communities.”

Courtesy: Non-Wovens Industry

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