Tuesday, September 9, 2008
Ceres Gets Feedstock Win In Georgia
Thousand Oaks-based biotechnology firm Ceres, Inc. has scored a win for the firm's technology in a field trial in Soperton, Georgia, the firm said Tuesday. The company, whose seeds and crops are targeted for use in cellolosic biofuels, said that it will trial improved switchgrass cultivars and high-biomass sorghum hybrids with ethanol plant operator Range Fuels. Financial impact of the deal was not disclosed. Range Fuels will use energy crops based on Ceres technology as feedstock for its biorefinery. Ceres' seeds are targeted a providing high yields and better efficiency in feedstocks used to create cellulosic biofuel. The firm has significant backing from Warburg Pincus, Soros Private Equity, QuestMark Partners, Oxford BioScience, Oppenheimer, Monsanto, KBC, H&Q, and GIMV.