SG Biofuels Raises $9.4M
Bruce V. Bigelow9/14/10
Encinitas, CA-based SG Biofuels says today it has closed on $9.4 million in Series A financing raised from Flint Hills Resources, a privately held refining and petrochemical company based in Wichita, KS; Life Technologies (NASDAQ: LIFE), a biotechnology tools company based in Carlsbad, CA; and existing investors, who were not identified. SG Biofuels has been using genetic tools to optimize the yield of oil-bearing seeds produced by Jatropha, a non-edible shrub that is native to Central America. The biofuels startup founded in 2006 intends to use Jatropha to produce a low-cost feedstock for producing jet fuel, diesel, and other petrochemicals.
