Google invests in CoolPlanetBioFuels, joins $2M Series B round

March 18, 2011 |

In California, CoolPlanetBioFuels announced that Google Ventures has joined its $20 million Series B funding round.Google’s investment was undisclosed, though we note that previous reports focused on an $8 million Series B round, suggesting that Google Ventures invested as much as $12 million into the venture.

CoolPlanet, based in Camarillo, California, is developing a mobile, trailer-based, thermal/mechanical pyrolysis processor that directly inputs raw biomass such as woodchips, crop residues and non-food fuel crops, and produces distinct gas streams for catalytic upgrading to conventional hydrocarbon fuel, and produces biochar as a residue.

The company is also developing simple one- step catalytic conversion processes that mate with the processor’s output gas streams to produce useful products such as eBTX (gasoline), synthetic diesel and proprietary ultra- high-yield super fuels.

“We are very pleased to complete this financing with a high-caliber partner known for its tremendous support in helping companies grow,” said Mike Cheiky, CoolPlanetBiofuels President and Chief Executive Officer. “While we have made significant progress over the past couple of years, this new infusion of capital, coupled with the expertise of the Google Ventures team, enables our team to scale even faster.”

More on the story.

Print Friendly, PDF & Email

Tags: , , ,

Category: Fuels

Thank you for visting the Digest.