Harvest Power (Waltham, Mass.) has announced a $15-million extension to its Series C financing round, led by Piper Jaffray with Tur Partners and Industry Ventures participating. This brings Harvest’s Series C capitalÂ¬raise to $125 million in total. Harvest will use the investment to expand its business of producing renewable energy and compost based fertilizers from organic materials. True North Venture Partners led the initial $110 million financing alongside existing investors including Kleiner Perkins Caufield & Byers, DAG Ventures, and Generation Investment Management. Founded in 2008, Harvest produces energy and nutrient rich soils from organic materials like food scraps and yard trimmings. The company expects to complete construction this year of two large anaerobic digestion facilities. According to the company, which owns and operates a network of facilities in the United States and Canada, 500 million tons of organic materials are produced in North America each year.
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