Nexterra receives further investment
May 31, 2011, Vancouver – Nexterra Systems Corp. has secured $2.5 million in equity financing from the Business Development Bank of Canada.
May 31, 2011 By Nexterra Systems
May 31, 2011, Vancouver – Nexterra Systems
Corp. has secured $2.5 million in equity financing from the Business
Development Bank of Canada (BDC). Proceeds will be used to accelerate
Nexterra’s business growth. Coupled with a recent investment of $15 million
from Tandem Expansion Fund and ARC Financial, Nexterra has secured a total of
$17.5 million in 2011 to further its biomass energy system business.
“We believe that the market for onsite
biomass heat and power systems is poised to grow significantly in the next few
years to meet the rising demand for greenhouse gas reductions, energy security,
and overall energy cost certainty,” says Tony Van Bommel, a partner at BDC
Energy/Clean Technologies Venture Fund.
Nexterra’s proprietary biomass energy
systems help universities, municipalities, hospitals, government, and
industrial facilities switch from fossil fuels to renewable biomass fuels such
as wood residues, biosolids, and agricultural waste. Based on a new generation
of gasification technology, the benefits include lower costs, design
simplicity, reliability, versatility, fully automated control systems, and
ultra-low emissions. These capabilities make biomass gasification suited to
“We are delighted to have BDC as new
investor in Nexterra,” says Jonathan Rhone, President and CEO of Nexterra.
“This financing ensures that we have the resources required to meet market
demand, to continue to expand and enhance our product portfolio and to maintain
momentum in all aspects of our business.”
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