Wednesday, May 9, 2012

Altra Biofuels Spinout Gets $30M More

EdenIQ, the spinout of San Diego-based Altra Biofuels, the developer of biofuels processing technology, has scored $30M in new venture capital funding, the company said today. EdenIQ, which is taking biomaterials technology being applied to sustainable chemical and fuel production, said it has raised both equity and debt in the funding. The equity investment included Kleiner Perkins Caufield & Byers, Draper Fisher Jurvetson, Cyrus Capital, The Westly Group, Angeleno Group, I2BF Global Ventures and Element Partners as well as a new investor, Flint Hills Resources Renewables, which is a subsidiary of Koch Industries and a major ethanol producer. Both KPCB and Angeleno Group are also investors in Altra Biofuels. EdenIQ is based in Visalia. More information »

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