Cleantech Investing: GreenFuel raises $11M Series B

Monday, December 12, 2005

GreenFuel raises $11M Series B

DFJ made a big bet on smokestack-cleaning GreenFuel Technologies today, putting $6M into an $11M Series B round. GreenFuel is interesting not only as a CO2 and NOx cleaning technology, but also as a technology angle on biofuels manufacturing. DFJ views this as a bet on "carbon management solutions," according to the quote from Jennifer Fonstad. Existing Series A investors including Access Industries put in $3.9M, and individuals put in $1.1M.

GreenFuel had previously announced a bridge financing back in July.

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Monday, December 12, 2005

GreenFuel raises $11M Series B

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