ZeaChem Raises $34M for Oregon Biorefinery

Rachel Tompa1/9/09

ZeaChem, a Colorado-based clean fuel company, announced that they have raised $34 million from investors, led by Globespan Capital Partners and PrairieGold Venture Partners, to fund a green fuels refinery plant in Oregon. The company is developing technology to convert inedible plant matter into ethanol. ZeaChem announced last year that the plant will be built on a tree farm in Boardman, OR, which will supply poplar trees for refining. The plant will initially produce 1.5 million gallons of fuel per year, company officials said.

Rachel Tompa is a freelance journalist based in Seattle. She can be reached at rmtompa@yahoo.com.