$75M for Fulcrum BioEnergy
Pleasanton, CA-based Fulcrum BioEnergy, a developer of technology for converting municipal solid waste into ethanol, said yesterday (PDF) that it has collected $75 million in Series C financing. The company declined to name the investors in the round, though it told Dow Jones VentureWire that existing shareholders Rustic Canyon Partners and U.S. Renewables Group participated. Fulcrum president and CEO James Macias said the new investment will allow the company to move forward with construction of a $120 million garbage-to-ethanol plant in McCarran, NV, near Reno. Expected to open in 2012, the plant will create 500 new “green jobs,” Fulcrum said.