Wednesday, February 23, 2011

CoolPlanetBiofuels Ups Latest Funding To $17.7M

Camarillo-based CoolPlanetBiofuels, the developer of biofuels technology run by Mike Cheiky, has upped the funding in it latest round to $17.7M, according to a regulatory filing by the firm. It appears the additional capital--around $10.0M--is a result of the investment announced in January by Energy Technology Ventures, a new joint venture of GE, NRG, and ConocoPhillips. CoolPlanetBioFuels is developing technology that converts low-grade biomass into high-grade fuel and carbon that can be sequestered. More information »