Thursday, July 19, 2007

Gevo Gets Series B Venture Round

Pasadena-based Gevo, a company developing technology to convert biomass into biofuels, said today that it has raised a Series B venture round. Amount of the round was not disclosed. The round came from new investor Virgin Fuels, and also included prior investor Khosla Ventures. Gevo said that Virgin Fuels will join the company's board as part of the funding. Virgin Fuels is the renewable energy investment firm formed by Sir Richard Branson. The company also said that it has appointed Patrick Gruber as CEO of the firm; Gruber was most recently President and CEO of Outlast Technologies, and has also served as CTO of Cargill Dow/NatureWorks LLC. Gevo's technology is based on research from Caltech. More information »

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