ZeaChem Raises $25M For Cellulosic Biofuels Effort

Lakewood, Colorado-based ZeaChem said Monday that it has raised $25M in a Series C funding round, as it completes construction of its cellulosic ethanol biorefinery in Oregon. The firm said the new funding came from ITOCHU Corporation, a new investor in the company, along with MacQuarie, an Australian investment banking firm. Prior investors Birchmere Ventures, Firelake Capital, Globespan Capital Partners, Mohr Davidow Ventures, PrairieGold Venture Partners, and Spring Ventures also participated. The firm said the funding will go to support operations at its new biorefinery and for development of its first commercial biorefinery. More information »