Harvest Power Raises $110M in Series C Financing
Harvest Power, a Waltham, MA-based developer of sustainable solutions for managing organic materials, has raised $110m in Series C financing.
The round was led by True North Venture Partners, with participation from American Refining and Biochemical, Inc. and existing investors including Kleiner Perkins Caufield & Byers (KPCB), DAG Ventures and Generation Investment Management, among others.
The company intends to use the capital to expand its capabilities to meet the demand from communities across North America.
Founded in 2008 and led by CEO Paul Sellew, Harvest has developed a advanced technology platform for processing organic materials – including food scraps, yard trimmings, scrap wood and other organics – to produce renewable energy as well as soil and natural fertilizer products.
The company, which operates facilities in the Mid-Atlantic and West Coast of the US, and in Ontario and British Columbia, Canada, expects to complete construction this year on the two largest anaerobic digestion facilities in North America.
In conjunction with the funding, Michael Ahearn, Managing Partner of True North Venture Partners, will join Harvest Power’s Board of Directors.