SACRAMENTO, CA – Today President Obama signed the Jumpstart Our Business Startups (JOBS) Act, a bipartisan bill that enacts many of the President’s proposals to encourage startups and support our nation’s small businesses.
Sierra Energy, a small waste gasification and renewable energy company from Davis, California was in attendance and shares the President’s belief that our small businesses and startups are driving economic recovery and job creation.
“America’s high-growth entrepreneurs and small businesses play a vital role in creating jobs and growing the economy,” said President Obama. “I’m pleased Congress took bipartisan action to pass this bill. These proposals will help entrepreneurs raise the capital they need to put Americans back to work and
create an economy that’s built to last.”
Sierra Energy has experienced the challenges for small businesses to raise capital. Starting the renewable energy company in 2004, CEO Mike Hart invested $5 million in Sierra Energy. In 2011, the White House recognized Hart as a “Champion of Change” for Sierra Energy’s innovative technology, which is capable of helping to eliminate the nation’s landfills, reduce greenhouse gas emissions, generate domestically-created transportation fuels, reduce U.S. dependence on foreign oil, and create jobs.
“America has the technologies today to solve its waste and energy problems, but there is a huge gap between research funding which is abundant and development funding which is scarce,” said Hart. “This is why the President’s effort in expanding access to capital for young companies is so crucial.”
Sierra Energy has rapidly grown from a technology concept to a dozen highly skilled members and expects to hire another 10-20 in the next year. In addition, Sierra Energy is developing a waste conversion facility in the Sacramento area that will produce locally-made, renewable, transportation fuels and generate over 60 local jobs.
“In California alone, we see the potential for thousands of full-time positions in converting waste to clean energy. The national potential is immense” says Hart.
In accordance to President Obama’s JOBS Act, Sierra Energy is seeking equity investment as well as project financing for its waste conversion facilities. For more information, please visit their website at www.SierraEnergyCorp.com or email info@SierraEnergyCorp.com.
Click here to download the official press release.