Ceres Details Financing Round

Thousand Oaks-based Ceres, a developer of biofuels crop technology, said Thursday that it has completed a private offering of convertible preferred stock. The funding came from Artal Luxembourg, Ambergate Trust, Gimv, and other undisclosed investors. Financial terms of the funding were not disclosed by the company, however, the firm revealed in a regulatory filing earlier this month that it had raised $20M in a financing. Ceres said the funding will go to expand the company's reserach and commercialization activities. Ceres is developing improved seed varieties--including switchgrass and high-biomass sorghum--which are specifically designed to maximize the energy output of biofuels. More information »