WALTHAM, Mass.--(BUSINESS WIRE)--Harvest Power, Inc., a leader in organics management solutions, today announced that it has received investor commitment for $20 million in new funding that will propel the company into its five-year growth plan. In addition, Christian G. Kasper has been appointed Harvest’s CEO, replacing Kathleen Ligocki who has recently accepted a CEO role at another company.
“We are excited about this next chapter under Chris’ leadership as the company advances it strategic growth plans,” said Michael Ahearn, chairman of Harvest’s board of directors. He continued, “Kathleen has charted a path to success for Harvest, and we thank her for the hard work, dedication and direction she’s provided Harvest over the past two years.” As part of this transition, Kathleen Ligocki will remain a member of the Harvest board of directors.
The new funding comes from internal investors led by True North Venture Partners (Chicago, IL), Industry Ventures (San Francisco, CA), and Generation Investment Management (London, UK). The company’s new five-year growth plan is designed to significantly scale the organics business while launching new initiatives in food waste management and renewable energy.
“I’m very pleased for this opportunity,” said Chris Kasper, who has served as the company’s CFO since May 2014. He continued, “I’m a firm believer in the mission of Harvest, to put organics to their highest and best use, and believe we have the investors, team and vision to accomplish our shared goals.”
Harvest Power creates a more sustainable future by helping communities across North America better manage and beneficially re-use their organic waste through the production of renewable energy, soils, mulches and natural fertilizers. Harvest has grown rapidly since its founding in 2008, garnering awards for its business of recycling, energy generation and soil revitalization. The company has been named to the Global Cleantech 100 for five years in a row, received Bloomberg’s 2013 New Energy Pioneer Award and was named one of Fast Company’s 50 Most Innovative Companies in the World for 2014.