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US renewables company Harvest Power raises $110m in Series C

12 Apr 2012

US bioenergy developerHarvest Power has raised $110m in a Series C financing round led by early stage VC firm True North Venture Partners.

In addition industrial refinery group American Refining and Biochemical also participated alongside investors including Kleiner Perkins Caufield & Byers, DAG Ventures and David Blood and Al Gore‘s Generation Investment Management as well as others.

Paul Sellew, CEO of Harvest Power , said, “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.

“By integrating organics recycling, renewable energy and the production of soils, mulches and natural fertilisers, Harvest has shown that we are a leader in a new kind of cleantech – one that lowers costs. We are proud to partner with True North and other investors that want to be part of this disruptive model.”

The deal comes shortly after the US renewables industry took a hit with the news that venture capital-backed solar energy company BrightSource Energy has pulled its initial public offering plans due to “adverse market conditions”.

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