In California, GE Energy Financial Services has joined an $8 million funding round for CoolPlanetBioFuels, a start-up company developing a technology that converts low-grade biomass into high-grade fuel and carbon that can be sequestered.
This venture capital investment was led by North Bridge Venture Partners, which had also led CoolPlanet’s financing round last year. CoolPlanet’s low-cost approach towards converting cellulosic plant material — such as grass and wood — into gasoline could create jobs in rural, agricultural areas as well as demand for non-food crops.
More background on the story from the Digest
Category: Producer News