SG Biofuels Raises $17M

San Diego-based SG Biofuels, a developer of hybrid seeds of Jatropha for the biofuels and specialty chemicals business, said that it has raised $17M in a Series B funding. The funding was led by Thomas, McNerney & Partners, and also included Finistere Ventures, Flint Hills Resources, and Life Technologies Corporation. SG Biofuels is developing hybrid seeds of the Jatropha plant, which yields a high oil content and can be grown on marginal land. The crop is being used to produce biodiesel, bio jet fuel, and bio-based specialty chemicals. As part of the funding, the company said it added Pratik Shah of Thomas, McNerney, and Jerry Caulder, of Finestere Ventures, to its board. The new funding round will go towards research and development, commercialization, and scaling its operations. More information »