Google’s first biofuel investment: CoolPlanetBiofuels
Google Ventures, the venture-capital arm of the search engine giant, has invested an unknown sum in CoolPlanetBiofuels, a company developing alternative fuels with byproducts that help remove greenhouse gases from the atmosphere.
Google would not release the specific details of its first biofuels investment, but a Google spokeswoman said that it was not the lead investor in the $20 million Series B funding round.
CoolPlanetBiofuels, headquartered in Camarillo, Calif., makes “negative carbon biofuels” out of raw biomass like wood chips and algae. A solid form of carbon is produced as a byproduct and then converted into a soil conditioner, sequestering both the carbon from the biomass and additional carbon trapped by the plants in the soil.
Google’s contribution will be used to accelerate the development of CoolPlanetBiofuel’s technology, according to a press release.
[Image via CoolPlanetBiofuels]
Companies: CoolPlanetBiofuels, Google
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