Buffalo Biodiesel announces $300 million growth partnership with Verite Capital Partners

Used cooking oil (UCO) collector and recycler Buffalo Biodiesel Inc. announced Oct. 24 a transformational capital and growth partnership with Verite Capital Partners.  

The agreement secures a planned $300 million funding program that will accelerate Buffalo Biodiesel’s expansion from a 15-state footprint to 25 states across the entire eastern United States, from Montreal, Quebec, Canada, to Miami, Florida. 

The news comes two days after Buffalo Biodiesel announced that Sumit Majumdar, its president and CEO, was appointed as the lead advisor and director of energy and a limited partner at Verite Capital Partners, an investment and advisory firm led by Don Jones. 

Under the terms of the new agreement and upon full completion of the funding, Jones will become a minority owner of Buffalo Biodiesel and will assume the role of chairman of the board. 

The funding will support Buffalo Biodiesel’s construction of two new state-of-the-art renewable natural gas (RNG) plants—one located in the Northeast and another in the Southeast in the state of Mississippi. 

At full funding, Buffalo Biodiesel said it expects to add 600-plus new employees, as it scales its operations and processing infrastructure. 

The funding rollout will occur in three stages, enabling organic growth from 15 states to 25 states—covering all states east of the Mississippi River—once the rollout is fully executed. 

Buffalo Biodiesel’s geographic footprint will extend from Montreal, Quebec, to Miami, Florida, reinforcing its East Coast and international reach, the company stated.  

“This partnership marks a pivotal moment not just for our company, but for the region’s clean-energy future,” Majumdar said. “With Verite’s backing, we can double down on our mission—collecting used cooking oil from tens of thousands of restaurants, converting organic waste into renewable natural gas, and expanding sustainably from Montreal down to Miami. The two new plants and the hundreds of new jobs they bring will deliver real economic impact across underserved markets.”  

Jones added, “We at Verite Capital believe in business with purpose. Becoming a partner and chairman of Buffalo Biodiesel allows us to invest in a growth company that aligns with our values—equity, community and clean energy. Together, we’ll expand operations east of the Mississippi, build meaningful jobs and bring RNG production to new markets. We’re honored to join this journey and help accelerate sustainable fuel solutions while empowering communities.”  

Buffalo Biodiesel currently serves over 28,000 restaurant supplier locations across 15 states and has established one of the largest UCO networks in the Northeastern U.S.  

The new funding and strategic partnership will enable the company to strengthen its logistics, processing and monitoring systems, launch the two new RNG facilities and scale operations systematically into the Southeast corridor.