Buffalo Biodiesel Inc. announced a series of executive appointments on Thursday as the company gears up for a major expansion following a $300 million capital partnership with Verite Capital Partners. The Buffalo-based renewable energy firm, which serves more than 30,000 restaurants across 15 states, plans to extend its footprint into 25 states stretching from Montreal to Miami, creating over 600 jobs.
Leading the company is newly appointed President and Chief Legal Officer Frank Balon, a veteran corporate executive and attorney who previously served as Co-President, Chief Legal Officer and Board Director at Steuben Foods. Balon's appointment comes as founder Sumit Majumdar steps back after more than two decades at the helm. “Buffalo Biodiesel has been my life’s work for over two decades. After screening hundreds of talented prospects, I know I am leaving this company in the hands of a highly capable visionary,” said Majumdar. “Frank possesses the exact blend of operational brilliance and legal acumen needed to scale our business.”
Balon has assembled a leadership team that includes former Erie County prosecutor Ryan Haggerty as Chief State Litigator and General Counsel. Haggerty spent over 14 years with the Erie County District Attorney's Office and will oversee state litigation. “Ryan’s extensive courtroom experience handling high-stakes criminal conspiracies and state level litigation expands our capability to protect our assets,” said Balon. Former federal prosecutor Jeremiah Lenihan has been named Chief Federal Litigator. Lenihan previously served as an Assistant United States Attorney prosecuting organized crime, money laundering, gang activity and financial fraud cases. “Given Jerry’s extensive track record in successful prosecutions at the state and federal levels, coupled with his civil practice, makes him a big help to our enforcement activities,” Balon added.
The company also appointed Peter Grisanti, CPA, MBA, as Chief Financial Officer. “Peter is another component to the rapid increase in scaling for the company and we expect further key positions to be filled in the near future,” said Balon. The appointments strengthen Buffalo Biodiesel's legal, financial and operational capabilities as it enters what company officials describe as the most significant growth period in its history. Founded in 2005, Buffalo Biodiesel operates one of the largest used cooking oil collection networks in the Northeastern U.S., and its expansion is poised to have a significant impact on the renewable energy and recycling industries. The $300 million capital injection from Verite Capital Partners underscores investor confidence in the company's business model and growth trajectory.
