Cobalt raises USD25m for biobutanol

Tue Oct 21 2008, 11:20 AM

Californian firm Cobalt Biofuels has raised USD25m in a Series C round led by LSP and Pinnacle Ventures that included VantagePoint Venture Partners, Malaysian Life Sciences Capital Fund, @Ventures and Harris & Harris. The company is using the funds to develop technology for producing biobutanol, a biofuel that is chemically more akin to petrol than ethanol.

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