Gathering Power Adds $20m to Series D for Expansion of Food Waste Business

The capital will be used to widen the business’s facilities and services — which include anaerobic digesters; green waste disposal, hauling. Recycling; composting; and depackaging –, invest in the business’s energy development business, and continue the roll out the business’s growing line of consumer-facing fertilizer and soil supplement products. The backing round takes Harvest Power’s total fundraising efforts to $244.5 million and as well coincides with the appointment of Kasper as CEO.

For Harvest Power, there are several takings streams from the anaerobic digestion process including the electricity produced. Sold back to the district; the waste disposal fees from Disney; and the sale of its range of soil supplement and fertilizer products made using the digestate byproduct. The business is currently selling 35 million bags a year of product through leading retailers such as Home Depot and Lowes, per to Kasper. Disney’s anaerobic digester use microbes to break down a mixture of 20 percent food waste, 20 percent fats, oils, and grease, and 60 percent treated sewage from Disney’s wastewater treatment plant nearby.

Gathering Power is also active in the wastewater space and is currently working with a leading municipality on building a treatment plant, per to Kasper. So what does the future hold for the company’s shareholders? “ Like all investors, ultimately they will look for an exit, but that’s not imminent,” told reporters Kasper. “We have an opportunity to grow the business in scale and profitability, and take advantage of what we see as a significantly growing number of communities looking to agreement with the challenges that organic food waste presents.