$100-Million IPO for Turkey-to-Biodiesel Company

John Davis

A company that turns leftover turkey parts into biodiesel has made a $100-million initial public offering as the company goes public.

This story from SustainableBusiness.com says West Hempstead, N.Y.-based Changing World Technologies, Inc. sells biodiesel and organic fertilizers that it produces from animal and food processing waste:

The company is noted for financial backing by the owners of the New York Mets and also for a plant in Carthage, Missouri that takes roughly 250 tons of carcasses daily from the ConAgra Butterball turkey factory and turns them into fertilizer and diesel fuel for heating oil.

Changing World Technologies is funded by Apex Capital, ConAgra, Stonehill Capital and the venture capital unit of Fred Wilpon’s Sterling Equities. Mr. Wilpon is chairman and principal owner of the Mets.