Tuesday, October 30, 2012

ZeaChem Gets $25M For Oregon Biofuels Plant

A cellulosic biofuels startup, ZeaChem, has completed construction of a new cellulosic ethanol biorefinery in Boardman, Oregon, and raised $25M in funding. ZeaChem said the plant, which is expected to have a capacity of 250,000 gallons per year, will take locally source biomass and convert that into chemicals and ethanol. The startup said it will be taking in wood and wheat straw for its biofuels plant. The funding, a Series C round, came from ITOCHU Corporation, MacQuarie, Birchmere Ventures, Firelake Capital, Globespan Capital Partners, Mohr Davidow Ventures, PrairieGold Venture Partners, and Spring Ventures. ZeaChem's headquarters are in Colorado. More information »