GreenFuel Technologies Secures $13,900,000 Series B Funding

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b3724a5c-defa-475c-b55a-dfdc96066144&Preview=1
Date
5/15/2008
Company Name
GreenFuel Technologies
Mailing Address
735 Concord Avenue Cambridge, MA 02138
Company Description
With more than a dozen pending patents, GreenFuel Technologies is the leading developer of algae bioreactor systems that can convert flue gases into clean, renewable biofuels.
Website
http://www.greenfuelonline.com/
Transaction Type
Venture Equity
Transaction Amount
$13,900,000
Transaction Round
Series B
Proceeds Purposes
This extension retires $6.3M of debt and adds $7.6M of new capital to fuel growth for implementation of algae farming projects, one of which, still unannounced, began in January.
M&A Terms
Venture Investor
Draper Fisher Jurvetson
Venture Investor
Polaris Venture Partners