US Renewables Backs Biofuels Firm

Los Angeles-based private equity investor US Renewables Group is the lead investor in a biofuels and renewable chemicals firm. According to Colorado-based OPX Biotechnologies, US Renewables led a $36.5M, Series C first close in the company, which also included DBL Investors, Mohr Davidow Ventures, Braemar Energy Ventures, Altira Group and X/SEED Capital. As part of the funding, USRG managing director Jonathan Koch has joined the company's board. The investment looks to be the first, new investment publicly announced by USRG this year. US Renewables also is the backer of such companies as SolarReserve, ASAlliances Biofuels, and Fulcrum BioEnergy. More information »