Blue Sphere completes $3 million financing round

Charlotte, North Carolina-based Blue Sphere Corp., a clean energy company that acquires, develops, manages and owns waste-to-energy projects globally, announced it closed Dec. 23, 2015, on a financing round of $3 million. The notes have a face value of $3 million, and after commissions and selling expenses, the company netted $2.672 million. The terms of the financing will be more particularly defined in an 8K filed with the Securities and Exchange Commission.

The company worked with the Maxim Group, a New York-based investment banking firm to market and close this private placement of notes which will be used for general business activities.

This financing at the corporate level will allow the company to further focus on it large pipeline of acquisition targets in Italy as well as further development opportunities in the United States, it says. Blue Sphere has developed a following of project finance partners as well as industry partners.

The company recently acquired four biogas facilities in Italy and continues to develop anaerobic digester facilities in the United States.

“We are very pleased to complete this financing round. It allows us to focus on additional acquisition and development opportunities. We are also very happy with the commitment that these investors have made to our Company,” says Shlomi Palas, the company’s CEO.