Nexterra Systems Corp., a Vancouver, Canada-based supplier of biomass gasification solutions that generate renewable heat and power for institutional and industrial customers, has secured $15m in equity financing.
Investors include Tandem Expansion Fund and ARC Financial.
As also stated by CEO Jonathan Rhone, the company intends to use the funds to continue to expand, enhance their product portfolio and maintain momentum in all aspects of the business.
Nexterra’s biomass energy systems are designed to allow universities, municipalities, hospitals and industrial facilities to reduce energy costs and greenhouse gas emissions by switching from fossil fuels to renewable energy generated on-site using biomass. They are suited to urban environments due to their ultra-low emissions, fuel flexibility, reliability and low lifecycle costs compared to traditional biomass combustion equipment.
Customers include the US Department of Energy, Johnson Controls, University of Montana, Kruger Products, Dockside Green and University of British Columbia.