Renewable Energy Start-Up Business Launches Operations on Buffalo’s East Side- Viridi Parente seeks to transform the construction industry

06.27.18

Buffalo, New York --June 27, 2018 –In a move that will bring manufacturing back to a once-bustling industrial complex on Buffalo’s East Side, company leaders today announced the formation of Viridi Parente, Inc., a fuel and engine company for the new century. Viridi Parente will specialize in the manufacturing of renewable energy-based engines and power trains for heavy machinery and storage applications.

Comprised of two subsidiaries, Green Machine Equipment, Inc. and Volta Energy Products, Inc. Viridi Parente received approval today for a low-interest loan in the amount of $1.4 million from the Erie County Industrial Development Agency (ECIDA). The ECIDA support comes after Viridi Parente successfully raised more than $4 million in private equity funding earlier this year and also secured institutional support from Key Bank. The company has officially launched operations at the former American Axle & Manufacturing facility at 1001 East Delavan Ave. in Buffalo, New York.

“Through our proprietary technology, we have the opportunity to have a major impact in a growing, global marketplace,” said Jon M. Williams, Viridi Parente President & CEO. “While New York and other states are setting goals for renewable energy initiatives, we have successfully introduced our technology to the marketplace and are now looking to expand beyond the proof-of-concept phase in a way that can potentially bring our product around the globe and bring jobs back to the East Side of Buffalo.”

Green Machine was launched in 2010 as a project of OSC Holding, Inc. with the goal of producing Lithium-ion battery packs and electric drive systems to replace conventional diesel power sources and internal combustion engines in heavy-duty construction equipment. Today, Green Machine’s Whispertech technology is at work powering mini excavators, portable light towers and clean power storage devices. In addition to numerous safety benefits, machinery powered by WhispertechTMhas zero tailpipe emissions in comparison to diesel equivalents, and significantly reduced operating and maintenance costs. The technology is being used successfully in the field by a growing number of companies, including National Grid.

Founded in 2017, Volta Energy Products tests, designs and manufactures next-gen Lithium-ion cells and modules that are more powerful, dense, durable and safe for industrial applications than current storage technologies.

In 2017, the global construction equipment market had an estimated value of approximately $192 billion (U.S.). It is expected to grow to $288.8 billion by 2022. Also in 2017, approximately 809,000 construction machines were sold worldwide; the North American market was the third-largest in the world, accounting for approximately 21 percent of total revenue.

“The first two years are critical, which makes the support and confidence of our private investors, The WNY Impact Fund, our institutional partners at Key Bank, and now the ECIDA, so important,” Williams said. “Having forward-thinking partners who can see and understand not only the business and growth potential, but also the potential for what our success can bring to Buffalo is remarkable. We’re incredibly grateful to have them on board, and we look forward to demonstrating what our technology can do.”

Viridi Parente, through Green Machine Equipment, Inc. and Volta Energy Products, Inc.builds clean/renewable power systems that employ proprietary lithium-ion cells, modules, and drives for industrial applications, microgrid storage, and renewable replacements for a myriad of fossil fuel-based engine systems.