# Harvest Power

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/harvest-power

- Industry: Renewable Energy
- Headquarters: Islip Terrace, US
- Website: https://harvestpowersolar.com/
- Total disclosed funding: $189M
- Latest round: Series C (Jul 19, 2012)
- Investors on record: 13

## About

Harvest Power, Inc. is a US-based company specializing in solar energy solutions, focusing on the installation of efficient solar systems for residential and commercial clients.Harvest Power, Inc., founded in 2008 by Jaouad Achir, operates in the solar energy sector, providing solar solutions primarily in New York State. The company has undergone various operational changes and has been involved in strategic transactions, including the acquisition of the London Energy Garden by StormFisher Environmental in January 2016. In August 2018, Harvest Power, Inc. filed for protection under the Companies’ Creditors Arrangement Act. As of its most recent funding in August 2018, the company raised a total of USD 10.32 mn from investors such as Generation Investment Management, Industry Ventures, and True North Venture Partners.Harvest Power Solar primarily offers solar energy systems designed to enhance energy efficiency for both residential and commercial clients. Their core product line includes solar panel installations utilizing photovoltaic technology to generate electricity from sunlight, thereby reducing reliance on traditional energy sources. The company serves a diverse client base, including homeowners and businesses aiming to lower electricity costs and carbon footprints. Harvest Power Solar has focused its operations on New York State and its surrounding areas, also extending services to community solar initiatives that allow multiple users to benefit from shared solar energy resources.The revenue model of Harvest Power Solar is based on direct-to-consumer transactions for solar energy system installations. Clients engage with the company for solar panel installations, with pricing plans reflecting the size and capacity of the systems. The company explores partnerships to integrate Tesla battery solutions and facilitate community solar projects. A typical solar customer is projected to save approximately USD 120,000 over 30 years on electric bills, thereby creating a compelling value proposition for consumer engagement.Harvest Power, Inc. aims to expand its product offerings and geographic reach. The company is designing new solar energy solutions with a focus on innovative technologies aimed at enhancing energy efficiency for both homes and businesses. Future plans include entering new markets beyond New York State, although specific regions and dates have not been disclosed. The recent funding of USD 10.32 mn will support these initiatives, including the potential exploration of community solar projects and partnerships that align with their expansion strategy.

## Funding rounds

- Series C, Jul 19, 2012, $15M — Industry Ventures, Piper Sandler, Tur Partners
- Series C, Mar 30, 2012, $110M — Kleiner Perkins, DAG Ventures, Crossroads Liquidating Trust, Generation Investment Management, TriplePoint Capital, True North Venture Partners, American Refining and Biochemical, Inc.
- Series B, Jun 30, 2011, $6M — SAM Private Equity
- Series B, Mar 9, 2011, $48M — Kleiner Perkins, DAG Ventures, Crossroads Liquidating Trust, Generation Investment Management, Munich Venture Partners, Waste Management Service Center, Inc., TriplePoint Capital
- Series A, Dec 9, 2009, $9.8M — Kleiner Perkins, Munich Venture Partners, Waste Management Service Center, Inc.

## Investors

- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series A, Series B, Series C
- Munich Venture Partners (https://capitalatlas.ai/funds/munich-venture-partners) — Series A, Series B
- Waste Management Service Center, Inc. — Series A, Series B
- DAG Ventures (https://capitalatlas.ai/funds/dag-ventures) — Series B, Series C
- Crossroads Liquidating Trust (https://capitalatlas.ai/funds/crossroads-liquidating-trust) — Series B, Series C
- Generation Investment Management (https://capitalatlas.ai/funds/generation-investment-management) — Series B, Series C
- TriplePoint Capital (https://capitalatlas.ai/funds/triplepoint-capital) — Series B, Series C
- SAM Private Equity (https://capitalatlas.ai/funds/sam-private-equity) — Series B
- True North Venture Partners (https://capitalatlas.ai/funds/true-north-venture-partners) — Series C
- American Refining and Biochemical, Inc. — Series C
- Industry Ventures (https://capitalatlas.ai/funds/industry-ventures) — Series C
- Piper Sandler (https://capitalatlas.ai/funds/piper-sandler) — Series C
- Tur Partners — Series C