Nexterra Systems raises $15M for biomass power

Posted by Rob Lewis on 2011-03-04 9:00:00 AM

Vancouver's Nexterra Systems announced yesterday that it has secured $15 million in equity financing from Tandem Expansion Fund and ARC Financial.

Nexterra makes small-scale biomass gasification systems that generate renewable heat and power systems. The company’s clients include the U.S. Department of Energy and Johnson Controls.  It also has strategic relationships with GE and Johnson Controls.

The new funds will be used to accelerate the growth of Nexterra's business.

Colin Hansen, British Columbia's Minister of Finance said, "Tandem and ARC's $15 million investment in Nexterra is an excellent example of continued investor interest in innovative B.C. companies, particularly in newer industries such as clean energy. This shows the confidence investors have in B.C.'s economy, our strong business climate and our leadership in the clean technology sector."

"With the company on track for a record year in 2011 for sales and revenue growth, Nexterra is continuing to build on its leadership position in the biomass energy market," said Nexterra CEO, Jonathan Rhone. "This financing ensures that we have the resources required to meet market demand, continue to expand and enhance our product portfolio and maintain momentum in all aspects of the business."

Company:
Nexterra Energy Corp.
Website:
http://nexterra.ca
Location:
Vancouver, British Columbia, Canada

Nexterra Energy develops, manufactures and delivers advanced gasification systems that enable customers to self-generate clean, low cost heat and power at industrial and institutional facilities using waste fuels. In an era of higher energy prices, this means dramatically lower costs, higher operating margins and less reliance on fossil fuels and grid-purchased electricity. Furthermore, by using renewable biomass... more

Company:
Tandem Expansion
Website:
http://www.tandemexpansion.com
Location:
Toronto, Ontario, Canada

Tandem Expansion is a private growth capital fund seeking to invest in small and mid-sized Canadian companies in a variety of technology-based sectors. The fund's core values are professionalism, honesty and integrity. Tandem will act as a catalyst for growth and expansion by making targeted investments in companies with high growth potential and strong management teams. The fund's executives collectively... more

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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can... more

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