Waltham, Mass. — Harvest Power, which harnesses renewable energy, soil, mulch, and fertilizer from organic materials, on April 12 announced a $110 million financing. True North Venture Partners led the investment, with American Refining and Biochemical, Inc. participating alongside existing investors, including Kleiner Perkins Caufield & Byers (KPCB), DAG Ventures, and Generation Investment Management. Harvest said it will use the funding to expand its capabilities to meet the growing demand from communities across North America seeking sustainable, economical solutions for managing their organic materials. “The significant investor interest Harvest has received is the result of our dynamic partnerships, innovative approaches, and proven ability to build the first nationwide organics management company,” said Paul Sellew, CEO of Harvest. “By integrating organics recycling, renewable energy, and the production of soils, mulches, and natural fertilizers, Harvest has shown that we are a leader in a new kind of cleantech – one that lowers costs.” Harvest said it sold millions of bags of organic soils and mulches at retail in 2011, and is building the two largest food-waste-to-energy facilities in North America. Harvest’s vision is to find the highest and best use for the 500 million tons of organic materials produced in North America each year. The company operates facilities in the Mid-Atlantic and West Coast of the U.S., and in Ontario and British Columbia, Canada.
Transparency Across the Fertilizer Value-Chain