Harvest Power has added $20 million in new funding to continue expanding its organics-to-energy plants and compost production facilities in North America.
The company has now raised at $220 million in funding since its founding in 2008. Lead investors were True North Venture Partners of Chicago, Industry Ventures of San Francisco and Generation Investment Management of London (co-founded by Al Gore).
Harvest Power’s facilities process organics—much as food scraps and yard waste—and convert it into energy (specifically, Harvest Power uses the organics as a feedstock for its anaerobic digestion technology to produce electricity). The company also produces compost-based soil mulch or fertilizer from the same organics. Harvest Power generated $130 million in revenue in 2013.
Read more on the funding here. Image of Harvest Power's Orlando, Fla., facility courtesy of Harvest Power.
