In New Hampshire, Terragia Biofuel announced it has raised a $6 million seed round led by Engine Ventures and Energy Impact Partners (EIP).
The company will use the capital to commercialize its novel biology-based approach to converting cellulosic biomass into ethanol and other products, expand its employee headcount and initiate partnerships with major biofuel producers.
Terragia said it uses engineered thermophilic bacteria to break down cellulosic biomass and convert it into ethanol and other chemical products.
In partnership with Dartmouth College and the University of Campinas, the ongoing development of Terragia’s technology is supported by funding from the U.S. Department of Energy Center for Bioenergy Innovation and the São Paulo Research Foundation, by grants from the U.S. Department of Agriculture and National Science Foundation, as well as private capital.
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Tags: ethanol, Terragia Biofuel, New Hampshire, seed capital
Category: Fuels