Startup receives $20 million in financing for new food waste recycling technology
TULSA, Okla. — Startup company Totally Green, Inc. has received $20 million in financing for its new food waste recycling technology ORCA Green.
The company has partnered with Toronto-based York Plains Investment Corp. for a comprehensive program that involves both financing and a new marketing model for the innovative composting system.
York Plains has agreed to provide $5 million of equity financing for a 50% interest in the company and has also agreed to provide up to $15 million in equipment financing for the roll out of the Company''s new service program.
Totally Green''s ORCA Green Machine digests up to 2,400 pounds of food waste daily, turning it into a nutrient-rich liquid similar to “compost tea.”
According to the company’s website, the ORCA provides food processing facilities with an economical and environmentally friendly alternative to carting waste to a landfill.