Cool Planet Biofuels Gets $3.0M More

Camarillo-based Cool Planet Biofuels, a firm developing biofuels technology to replace gasoline using biomass, has raised $3.0M as part of an ongoing, $8.0M funding round, according to a filing by the firm today. Source of the new funding was not announced, however, the firm is now backed by North Bridge Venture Partners. Basil Horangic of North Bridge has joined Cool Planet Biofuels' board as part of the funding. Cool Planet says it is developing technology from converting biomass into gasoline. The company is headed by Mike Cheiky, who was most recently President and CTo of Transonic Combustion. The new funding comes on top of its first round of venture capital funding in September of 2009. More information »