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GreatPoint in Deal with Dow

Cambridge, MA-based GreatPoint Energy, which is developing technology that converts coal into cleaner-burning natural gas, said today that it has struck an agreement with Dow Chemical Company (NYSE: DOW) giving Dow the right to buy natural gas generated at GreatPoint’s facilities. Dow was the lead investor in GreatPoint’s $103 million equity financing round in 2007, providing cash for the company’s first pilot facility, which recently began operation in Somerset, MA.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.

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