Thursday, July 11, 2013
Cool Planet Biosystems Moves HQ To Colorado
Camarillo-based biofuels firm Cool Planet Biofuels is moving its headquarters to Colorado, after that state dangled state tax rebates to attract the company. The company will continue to work on research and development in Camarillo, according to the company. Cool Planet Biofuels said it will be opening up its first manufacturing plant in Greenwood Village, Colorado.
The move is at least the second, biofuels company pulled out of Southern California by Colorado, which--along with states like Texas--has been very aggressive in courting high tech startups from Southern California. The first was Gevo, a biofuels company originally started in Pasadena and based on technology from Caltech and UCLA, and which moved to Colorado to escape local rules and regulations over its biofuels manufacturing efforts, and eventually had an IPO.
Cool Planet Biofuels is backed by General Electric, Google Ventures, BP, ConocoPhillips, NRG and the Constellation Energy division of Exelon.