WM invest in organics recycling facilities in U.S., Canada

Jan. 25 -- Waste Management Inc. is investing in Harvest Power, a move that will expand organics recycling facilities across the United States and Canada, the company said.

Founding investors Kleiner Perkins Caufield & Byers and Munich Venture Partners also are increasing their investments in the company.

Harvest Power operates and owns the largest food and yard waste composting facility in North America in Richmond, British Columbia. The company also is developing aerobic and anaerobic digestion and composting technologies to accelerate the decomposition of organic materials to produce renewable energy, Waste Management said.

"We want to extract more value from the materials we manage than anyone else in our industry through new and emerging processing and conversion technologies," said Tim Cesarek, managing director of organic growth at Waste Management.

Contact Waste & Recycling News senior reporter Jim Johnson at 937-964-1289 or jpjohnson@crain.com