SG Biofuels Raises $9.4M

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.

Bruce V. Bigelow was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Follow @bvbigelow

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