Edeniq raises $7 million in equity capital from existing and new investors
In California, Edeniq, Inc. announced it has raised $7 million in equity capital. The proceeds will be used to support rapid growth in Edeniq’s Pathway cellulosic ethanol business. The Company is focused on customer acquisition, adding resources to support existing customers, and developing technology enhancements that can potentially increase the amount of cellulosic ethanol eligible for D3 RINs and other regulatory incentives at each customer plant.
The company’s largest existing investors, including Flint Hills Resources, Angeleno Group, I2BF Global Ventures, and Cyrus Capital participated in the equity round. Trinity Capital Investment was a new equity investor in the round. Trinity previously provided debt financing and, concurrently with the equity financing, Trinity amended and restated its debt facility for the Company.
Category: Fuels
