Verdezyne Closes Funding Round

5/9/11Follow @bvbigelow

Carlsbad, CA-based Verdezyne, which has been developing industrial biotechnology processes for making adipic acid and other sustainable chemicals and fuels, says today it has closed a new funding round. While the amount of funding was not disclosed, Verdezyne says two of the investors, BP Alternative Energy Ventures and DSM Venturing B.V., joined in the round with existing investors OVP Venture Partners and Monitor Ventures. Verdezyne CEO Bill Radany also told VentureWire the company has agreed to work with BP in its efforts to develop cellulosic ethanol, technology that BP acquired from Verenium.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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