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Just a few months after bumping up a financing round to $58 million, Harvest Power Inc. of Waltham has raised $500,000 through a sale of options or warrants for equity, according to a federal document.
In May, Harvest Power reported it had increased the funding taken in a planned $60 million round from its original amount of $52 million – a Series B round filed in March – to $58 million. According to the filing with the U.S. Securities and Exchange Commission, the new funding involves a purchase of the options or warrants by a single unnamed investor.
Previous backers of Harvest Power include SAM Private Equity, part of the Rabobank Group, to the company’s list of investors including London-based Generation Investment Management, co-founded by Al Gore and Goldman Sachs veteran David Blood; DAG Ventures; Keating Capital; Kleiner, Perkins, Caufield & Byers; Waste Management; Munich Venture Partners; and TriplePoint Capital.
Founded in 2008, Harvest Power is building what it calls North America’s first commercial-scale, high solids anaerobic digestion facility at a site in the Vancouver, British Columbia, region. According to CEO Paul Sellew, the facility could process 30,000 tons of food waste per year, and would turn the organic material into biogas, which could then be converted into energy such as natural gas or electricity.
This latest funding brings the amount raised by Harvest Power to just under $100 million.
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