The week to August 5 was overflowing with biofuels investment news.
San Diego, California based Genomatica withdrew its much anticipated IPO citing unfavorable market conditions, but simultaneously announced that it had instead upped its private capital with a $41.5 million Series D round. Versalis, the Italian chemical major, was a new strategic investor joining the round. Genomatica becomes only the latest in a string of companies, including solar CSP company BrightSource Energy and coal bed methane producer Luca Technologies to withdraw IPOs from American markets.
Meanwhile, other well-known biofuels innovators tied down private financing, too. Fort Collins, Colorado based Solix BioSystems received $31 million in a Series C round, while Amyris, which went public in September, 2010, negotiated an amendment to its collaboration with French energy giant Total, giving the biofuels and biochemicals company access to an $82 million budget over three years for research and development of renewable diesel and jet fuel.
Elsewhere in green transportation, San Francisco, California based Getaround received a healthy $13.9 million Series A investment from Menlo Ventures. The company’s peer-to-peer car sharing service is one of many to attract the interest of private investors lately, as we saw last week with Daimler’s investment in carpooling.com. Getaround had previously received $3.4 million in seed funding from CrunchFund, General Catalyst Partners, and Redpoint Ventures, as well as a grant from the Federal Highway Administration, during 2011.
The US Department of Energy’s Advanced Research Projects – Energy (ARPA-E) announced that it would fund 19 new advanced vehicle and grid energy storage projects with a series of targeted grants totaling $43 million. Recipients included research universities, national labs, and private enterprises including lithium-ion startup Sila Nanotechnologies, Ford Motor Company, and GE Global Research.
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