BROAD STREET ANGELS CLOSE ANGEL INVESTMENT DEAL WITH PITTMOSS
First company in the agriculture sector for BSA's portfolio addresses carbon emissions with peat mining.
FOR IMMEDIATE RELEASE
BROAD STREET ANGELS CLOSES ANGEL INVESTMENT DEAL WITH PITTMOSS
(Philadelphia, PA) RoseAnn B. Rosenthal, Chair of the Broad Street Angels, the Union League’s angel investing affinity group, announced that its members have completed their due diligence process and have made an investment in PittMoss, LLC. “We are glad to add PittMoss to our portfolio, and in particular, glad to add a company in the agriculture sector, a leading economic driver of Pennsylvania,” said RoseAnn B. Rosenthal.
“We are excited to participate in the growth of this environmentally-friendly product,” said Robert Padulo, Deal Lead of the Pitt Moss due diligence team.
Pitt Moss develops, produces and sells a revolutionary, next generation growing media that is made from a proprietary blend of recycled/upcycled materials and natural ingredients., The product is a disruptive technology that is superior to other peat based growing media on the market today, as a typical 2CF bag of peat-based soil has the same carbon emissions as burning 22 lbs. of coal. PittMoss can be used to accelerate composting, for animal bedding, erosion control and absorption applications.
The company led by Brian Scott, President, and is headquartered in Ambridge, PA. “The ‘stay at home economy’ has been very good for our company. When combined with several of our competitors having ‘peat shortages’, it has opened the door for a lot of new business and PR opportunities for the company. We are looking for continued strong growth in Q4 as we continue to both add new customers and increase our average sale per customer.” said Scott.
Broad Street Angels reviews regional angel investment opportunities from companies located in the Mid-Atlantic region every month at its monthly meetings. Companies wishing to be considered can apply through broadstreetangels.com.
ABOUT BROAD STREET ANGELS
Broad Street Angels is an affinity club of The Union League of Philadelphia. It consists of about 100 Union League members who actively invest in qualified, early-stage enterprises in the Greater Philadelphia and mid-Atlantic region as a means of growing the economy, retaining and attracting talent and fostering innovations that strengthen our civic infrastructure. Chair RoseAnn B. Rosenthal, is also President & CEO of Ben Franklin Technology Partners. The group is a member of the Angel Capital Association, PACT, PA Angel Network, Ben Franklin Angel Coordinating Group and others.
For information, please contact: Communications Chair, Susan Yee, CEO of Active Data, syee@activedata.com, 610-997-8100.
# # #
Previous