Cool Planet Raises $29.9M More On Way To $100M Round

Camarillo-based Cool Planet Energy Systems said Friday that it has raised $29.9M in funding, part of an ongoing, $100M Series D financing round. According to Cool Planet, the funds will go towards the construction of its first, commercial production facility. Cool Planet Biosystems is developing biofueld technology, which is being applied to the renewable fuels industry. The company says it process actually removes carbon from the atmosphere, by producing biochar for use in the agriculture industry. Cool Planet is backed by General Electric, Google Ventures, BP, ConocoPhillips, NRG and the Constellation Energy division of Exelon. More information »