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January 30, 2007
US Cleantech Fund Invests in Sweden's Chemrec
Chemrec, a Swedish gasification technology startup, specialized in converting "black liquor" to energy, has raised an undisclosed amount of financing from a Vantage Point Ventures cleantech fund and from Volvo Technology Transfer, according to easier.com.
a:c euro Ed. This deal is just the latest in US investment into European alt energy companies. We've been covering the trend in recents posts listed below.
The tantalizingly named Black Liquor is a major by-product of pulp and paper mills and a highly concentrated form of biomass. It has been proven by Chemrec to be a a significant energy source, that can yield electric power, and potentially motor fuels or chemicals.
“Chemrec has shown that there is an efficient process for converting biomass into renewable fuels,” says Anders Brännström, President of Volvo Technology Transfer. “The Volvo Group has no intention of becoming a fuel supplier but wishes instead to continue to conduct engine development on a broad front. On the other hand, we do want to participate in the development of new processes for the production of alternative fuels.”
Read - Volvo investing in the development of renewable fuels (easier.com)
Read - Big Name Money For Sulfurcell and G24i (alarm:clock euro)
Read - Goldman Sachs To Invest in Solar Panel's Solel At A Valuation In Hundreds of Millions (a:c)
Read - Billions Of Reasons To Invest In Alt Energy (a:c euro)
Posted on January 30, 2007 10:22 AM | Posted to Alternative Energy | Permalink
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