Terramera raises $13 mln from BDC's cleantech practice
Vancouver-based clean food technology provider Terramera has secured $13 million in subordinated debt financing from Business Development Bank of Canada (BDC). BDC invested through Ottawa’s $700 million clean technology strategy, announced last year. Terramera will use the proceeds for facilities, equipment and staffing to develop and commercialize its technologies, which focus on plant-based replacements for synthetic chemical pesticides and fertilizers to increase agricultural yields. Terramera, founded in 2010 by CEO Karn Manhas, raised an investment in 2016 from IKEA Group's venture capital arm.
21 February 2019•3 mins read
