| Seahorse Power Raises $1.1
Million for BigBelly Solar Trash Compactor
Needham, Mass.-based Seahorse Power Company has closed on $1.1 million
in financing to expand marketing, sales and manufacturing of the
BigBelly solar-powered trash compactor, a machine designed to reduce
collection frequency in municipalities, parks, eateries and other
outdoor sites where trash volume is high. "Seahorse has an exceptional management team and a product with a strong customer value proposition. With this financing in place, Seahorse Power will broaden their already-impressive customer list and move the product into the next phase of manufacturing," said William Osborn of the Massachusetts Green Energy Fund, a venture capital fund that participated in the financing. "The BigBelly has enormous potential to reduce airborne pollution from garbage trucks," added Jim Gordon, president of Cape Wind Associates and an investor in Seahorse's financing round. Queens, N.Y., received 50 units since last spring; the units are located on busy sidewalks and parks across eight of the Borough's business improvement districts. "It's educational, it's environmental, and it helps the district look better. It's a very attractive piece of furniture," said Mabel Law, director of the Flushing, NY Business Improvement District. "It's definitely holding its own and paying its way," remarked Warren Ramsey, superintendent of Utilities and Highways, Spencer, Mass. Other Seahorse customers include municipalities, parks departments, universities and the U.S. Forest Service. "The market for solar compactors is very large," said James Poss, CEO and founder of Seahorse Power Company. "The benefits of reducing trash and recyclables collection costs are compelling--especially in busy and remote locations. There are thousands of great sites in parks, business districts and beachfront areas for the BigBelly. Waste management and facilities professionals understand the value immediately."
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