ZooShare raises $1M for Toronto zoo-based biogas plant
October 15, 2014 - ZooShare Biogas Cooperative Inc. has raised more than $1 million for what it says will soon be North America’s first zoo-based biogas plant. Located across from The Toronto Zoo in Ontario, the 500kW biogas plant will convert zoo animal manure and food waste from local grocery stores into renewable energy.
Investors celebrated the milestone at their “Thanks A Million!” party last week.
“We are so grateful for the 150 investors who helped us reach one million dollars,” said Daniel Bida, executive director. “We reached this goal in less than a year, which exceeded our expectations, proving the market demand for sustainable high-impact investments. Together, we can demonstrate the true value of organic waste.”
ZooShare bonds, which are being used to build the biogas plant, pay a return of 7% each year for seven years, said the company.
The facility is expected to be operational by December 2015.
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