Loveland biocharcoal company launches $4M fundraiser

LOVELAND  — Biochar Now LLC has begun a $4 million fundraising round to expand its production plant in Berthoud.

According to filings with the U.S. Securities and Exchange Commission Tuesday, the Loveland-based producer of wood-based charcoal for soil fertility purposes is planning to sell equity and membership units in the LLC, a method that is similar to a stock issuance from a public company but at a small scale.

The company has raised $4,208,908 over seven separate fundraising rounds since it was founded. The last round, which was initiated in March, didn’t receive any sales, according to filings.

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Biochar Now manager James Gaspard said the funds would be used to expand the company’s plant to produce up to 20 times more biocharcoal than what it can produce right now. He expects that buildout to finish within six months of starting construction.