SAM Private Equity has invested $6 million in Waltham, Mass.-based Harvest Power, a firm that builds and operates facilities that produce energy from food waste and yard waste. SAM Private Equity is part of the Rabobank Group.
Waste Management has invested in Harvest Power, as has DAG Ventures; Generation Investment Management, a company co-founded by former Vice President Al Gore; Keating Capital; Kleiner Perkins; Munich Venture Partners; and TriplePoint Capital.
“SAM’s and Rabobank’s wealth of experience in agribusiness and sustainability investing makes this a perfect match for us,” said Paul Sellew, CEO of Harvest Power, in a press release. “Their investment is a strong vote of confidence in Harvest’s role as the premier organic waste manager in North America.”
“In Harvest we recognized the unique opportunity to invest in a sustainable business rapidly expanding into an enormous untapped market,” added Rhea Hamilton, investment director for SAM, in the press release. “We envision a day when our technologies are integrated into every community’s strategy for managing its organic waste.”
• Harvest Power Continues Rapid Growth with $6M Series B Extension (press release)
Harvest Power's Composting System (by Harvest Power)