Thursday, September 24, 2009

LS9 Raises $25M More

South San Francisco-based LS9, a developer of a fermentation process for producing biofuels and other chemicals, announced Thursday that it has raised $25M in a round of new funding. The round came from CTTV Investments LLC, Chevron Technology Ventures' venture capital arm; Flagship Ventures; Khosla Ventures; and Lightspeed Venture Partners. LS9's fermentation process converts plant-based materials into fuels and other chemicals, and is currently using its process to produce diesel fuel. The firm says its process can also be used to product chemicals for industrial and consumer products, and currently has a deal with Procter & Gamble to use the technology in consumer products. More information »