Cool Planet, a Greenwood Village-based agritech company, announce Wednesday that it has secured $20.3 million in Series A extension new investment and note conversions.
“Today’s announcement demonstrates the confidence that our investors have in both our transformative technology as well as our leadership position in the burgeoning soil health industry,” Jim Loar, president and CEO of Cool Planet, said in a statement.
“Soul health has become one of our country’s most important sustainability issues, and this capital will help us reach more growers with our technology and help us fulfill our mission of providing growers and producers with practical, science-based tools that improve grower productivity and profitability.” Cool Planet, which employs about 40 people, develops products that promote soil health.
The company’s first commercial product line is called Cool Terra.
Loar said Cool Planet’s clients include conventional and organic growers, professional sports teams, universities, city park departments and golf courses.
In May, the Denver Botanic Gardens announced that it is conducting trials of Cool Terra in a wide variety of gardens and its York Street location.
The Louisiana facility, which will serve as Cool Planet’s manufacturing hub, is scheduled to open in the summmer of 2019.