CHARLOTTE.— A global clean-energy developer based in Charlotte raised $1 million from one investor, according to a filing with the Securities and Exchange Commission.
Blue Sphere Corp. filed a Form D on Nov. 8. Previously named Jin Jie Corp., it is an independent power producer that develops, owns and manages waste-to-energy facilities internationally.
Of the $1 million, $100,000 has been proposed to be used for payments for executives, directors or promoters listed in the filing, with $20,000 budgeted for sales compensation to New York-based Maxim Group.
The issuer does not intend the offering to last more than one year, and the filing indicates that the offering is not being made in connection with a business combination transaction such as a merger, acquisition or exchange offer.
Operating in the clean-tech sector as a waste-to-energy project integrator, the company’s systems help to treat or eliminate waste that is buried, reduce methane and other greenhouse gas emissions, turn organic waste into sustainable clean energy and produce underground water supplies.
The company announced a partnership in October with investment bank Stern Brothers & Co. to assist in the development and capitalization of companies, developers and providers in clean technology and sustainable infrastructure.
On Nov. 8, the Charlotte Business Journal reported that the company is planning a $15 million initial public offering in December.
The company disclosed the raise in a filing with the US Securities and Exchange Commission.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
