Primus Green Energy to raise $50-$100M for renewable gasoline project

Jim Lane | February 15, 2012

In New Jersey, Primus Green Energy plans to raise $50 million to $100 million to this year to take its wood pellets-to-drop-in gasoline demonstration plant, which should be online by year’s end, to commercial scale by 2015.

The process was first developed by Princeton University by its co-founder in 2007 who originally raised $40 million from Israeli investors. Water is produced as a byproduct.