Nexterra Systems develops and provides biomass energy systems designed to help universities, municipalities, hospitals, government and industrial facilities switch from fossil fuels to cost-effective, carbon-neutral biomass fuels. Its systems operate on wood residues, biosolids and agricultural waste. Led by President and CEO Jonathan Rhone, the company supplies institutional and industrial customers including the US Department of Energy, University of South Carolina, Dockside Green, Kruger Products, the University of Northern BC and Tolko Industries. Nexterra secured $2.5m in equity financing from the Business Development Bank of Canada to accelerate growth by expanding and enhancing its product portfolio. Earlier, the company raised $15m from Tandem Expansion Fund and ARC Financial. The new funding is intended to support product development and commercial expansion. Nexterra Systems supplies biomass gasification systems that generate on-site renewable heat and power for universities, municipalities, hospitals and industrial facilities. The company is based in Vancouver, Canada. Its systems are designed to reduce energy costs and greenhouse gas emissions by enabling customers to switch from fossil fuels to biomass, and are noted for ultra-low emissions, fuel flexibility, reliability and lower lifecycle costs versus traditional biomass combustion equipment. Nexterra targets institutional and industrial customers and lists the U.S. Department of Energy, Johnson Controls, University of Montana, Kruger Products, Dockside Green and the University of British Columbia among its customers. The firm intends to use new financing to continue expanding and to enhance its product portfolio. The company recently secured equity financing to support growth and operational momentum. Nexterra Systems Corp, based in Vancouver, supplies advanced biomass gasification systems for biomass heat and power applications. The company is commercializing a new high-efficiency biomass power system in collaboration with GE Jenbacher and GE Energy. Proceeds from the recent funding will support that commercialization program. Pilot testing of the new system was planned to begin before the end of 2009, with a first commercial demonstration expected in early 2010. Nexterra received $7.7m in funding from the BC Bioenergy Network (BCBN), Sustainable Development Technology Canada (SDTC), the National Research Council Canada Industrial Research Assistance Program (NRC-IRAP), and Ethanol BC. CEO Jonathan Rhone emphasized continued collaboration with funding partners to ensure the company’s energy solutions meet high standards for biomass applications.

Total raised

$25M

Funding rounds

3

Latest round

Equity

Latest activity

Jun 2011