Alternative Energy - Tuesday, December 19, 2006
Seattle Biodiesel On Track To Raise $75M
Seattle Biofuels, which was founded by founded by former venture capitalist Martin Tobias and has raised over $9M in VC funding, is now raising a $75M Series B round, says PE Wire. According to a regulatory filing dated last month, it already has secured over $43M. Shareholders include existing Seattle BioFuels backers like Nth Power and Technology Partners.
Despite storm damage to one of its tanks at its Imperium Renewables refinery project, Seattle BioFuels remains on track for a big funding round.
The refinery is believed to be the largest U.S. effort of its kind, and would be capable of supplying 100M gallons of biodiesel per year. Tobias and company are lookng to cash in on bio diesel chic, even selling biodisel hats and Dickies coats on its site.
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