Home > techcrunch > LS9 Raises $30 Million More To Replace Petroleum- With Plant-Based Fuel And Chemicals

LS9 Raises $30 Million More To Replace Petroleum- With Plant-Based Fuel And Chemicals

December 20th, 2010 12:15 admin Leave a comment Go to comments

A new SEC filing revealed that LS9 — a biotechnology startup turning plant-based materials into fuel and chemicals for use within traditional petroleum-based systems — has raised a series D investment of $30 million.

The round was led by BlackRock and joined by all of LS9′s previous investors: Flagship Ventures, Khosla Ventures, Lightspeed Venture Partners and CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures LLC, according to a company spokesperson.

LS9 uses synthetic biology, or what it calls “designer microbes,” and a “single-step fermentation process,” to make proprietary biofuels. The company’s pilot plant in South San Francisco has been in operation for over two years. It acquired a larger-scale production facility in Okeechobee, Florida in early 2010. This spring, LS9 won the Presidential Green Chemistry Challenge Award, the U.S. Environmental Protection Agency’s (EPA) highest environmental honor.

In total, the company has raised $75 million in venture funding since 2006. LS9 plans to use the $30 million to move into commercial-scale production, and to support additional development and growth programs. TechCrunch has reached out to the company and its investors for further details.

Source: LS9 Raises $30 Million More To Replace Petroleum- With Plant-Based Fuel And Chemicals

Related Articles:

  1. Shell Spinoff Avantium Raises $43.9 Million To Develop Green Plastics, Chemicals And Fuel
  2. Elevance Raises $100 Million More To Make Chemicals And Fuel From Plant Oils, Poultry Fat
  3. Genomatica Raises $45 Million To Make Sustainable Chemicals, And Greener Spandex (A Good Thing, In This Case)
  4. Cobalt Technologies Raises $20 Million To Make Plant-Based Jet Fuel And Paint
  5. Cobalt Technologies Raises $20 Million To Make Plant-Based Jet Fuel And Paint
blog comments powered by Disqus
YOYOYOOYOYOYO