Monday, October 20, 2008

Cobalt Biofuels Raises $25M In Series C

Mountain View-based Cobalt Biofuels said Monday that it has raised $25M in a Series C funding round. The firm, which is developing biofuels for use as a fuel or as a fuel additive, said that the round was co-led by LSP and Pinnacle Ventures, and also included Vantage Point Venture Partners, The Malaysian Life Sciences Capital Fund, @Ventures, and Harris and Harris. Fouad Azzam of LSP will join the firm's board along with the funding. Cobalt Biofuels said the funding will go towards commercial production of the firm's biobutanol product. More information »