VC's stay drunk at the cleantech bar in Q2
Written on the original Movable Type site and recovered from the Internet Archive.
says Cleantech Group. including:
SECOND-GENERATION BIOFUELS: While recent increases in grain prices have created controversy over first-generation biofuels, second-generation biofuel companies, which do not rely on food crops as a feedstock, continue to receive large amounts of venture capital. Second-generation biofuel companies Range Fuels, Sapphire Energy, EdeniQ, Mascoma, Aurora BioFuels, Gevo, Fulcrum Bioenergy, Greenline Industries, GreenFuel Technologies and Amyris Biotechnologies raised a combined $280 million in venture investment in 2Q08. Of this total, $136 million was invested in cellulosic ethanol startups and $84 million in algae biomass startups, including a $50 million round for Sapphire Energy—the single largest round ever raised by an algae company.
While as an entrepreneur, I approve of the continued funding, I want to see the products start rolling much sooner. Come on guys!