Toronto-based York Plains has agreed to provide $5m of equity financing for a 50% interest in the organic food processing systems and compostable packaging company.
Totally Green said proceeds will be used to pay down existing lines of credit, and fund administrative and working capital expenditures required, supporting growth objectives.
York Plains will also provide up to $15m in equipment financing for the roll out of service program.
The ORCA Green machine can digest up to 2,400 pounds of food waste daily, into a nutrient-rich liquid similar to 'compost tea’, providing food processing facilities with an economical and environmentally-friendly alternative to landfill.
