Cobalt Adds $20M for Biofuel Refinery
Cobalt Technologies, the Mountain View, CA-based maker of butanol from woody biomass sources, said it has raised $20 million in a Series D financing. The round was led by The Whittemore Collection, and included Pinnacle Ventures, Malaysian Life Sciences Capital Fund, VantagePoint Capital Partners, Life Sciences Partners, @Ventures, Harris & Harris, and Burrill and Company. it has raised $20 million in a Series D financing round. The money will be used to help Cobalt build a cellulosic biorefinery in Alpena, MI, which it says is the world’s first to produce butanol, an industrial chemical.