TMO Renewables completes £7.6 financing round

In the UK, TMO Renewables announced that it completed a £7.6 round of financing.  Taken in combination with £4.6m raised in January 2010, the proceeds will serve will serve as working capital as the company moves towards commercialisation.

Additionally, the company has been involved in detailed and positive discussions in Brazil. A senior delegation of ethanol plant owners and local officials from the state of Minas Gerais, in South Central Brazil, visited the Company’s laboratory and PDU in Surrey earlier this year to see TMO technology in action. Building on this visit, TMO has recently signed an MOU as a prelude to a formal agreement to implement TMO’s technology in regional ethanol mills. This approach will make it possible to significantly increase the ethanol production in Minas Gerais without adding to the present sugarcane planted area.