Cobalt Biofuels raises $25 million in series C financing for biobutanol commercialization

In California, pioneer biobutanol venture Cobalt Biofuels said that it has completed a $25 million third round of funding. Participants in the round included Pinnacle Ventures, Vantage Point Venture Partners, Malaysian Life Sciences Capital Fund, @Ventures, LSP and Harris and Harris.  Fouad Azzam, General Partner of LSP, said “Cobalt Biofuels is on a clear path to be the first next generation biofuels company to successfully commercialize biobutanol.”

The company will develop biobutanol from non-food feedstocks, and will produce fuel as an additive for ethanol or gasoline, as Bu100, and for the industrial chemicals market. Biobutanol can be used in conjunction with existing gasoline infrastructure and engines, not requiring a flex-fuel engine.

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