Nexterra Systems Corp., a Vancouver (BC), Canada-based biomass gasification company, has secured $2.5m in equity financing from the Business Development Bank of Canada (BDC).
The company intends to use the proceeds to accelerate the growth of the business by expanding and enhancing its product portfolio. Nexterra already raised $15m from Tandem Expansion Fund and ARC Financial (read the news).
Led by President and CEO Jonathan Rhone, the company develops and provides biomass energy systems that are designed to help universities, municipalities, hospitals, government and industrial facilities switch from fossil fuels to cost-effective, carbon-neutral biomass fuels, such as wood residues, biosolids and agriculture waste.
Nexterra Systems’ institutional and industrial customers include the US Department of Energy, University of South Carolina, Dockside Green, Kruger Products, the University of Northern BC and Tolko Industries.