Think, Gevo, and corn-based ethanol under fire

[7/19 edit: The title of this post can be read several ways, in retrospect. To be clear, Think Global AS and Gevo are not under fire. rd]

• Think Global AS, the Norwegian electric vehicle manufacturer, raised a $60mm Series B round of financing. New investors Element, RockPort, Hazel Capital and CG Holding all participated alongside existing investors Canica, Capricorn Investment Group, Wintergreen Advisors, and individual investors. Venture funding of electric vehicles is really heating up -- how long until this guy has VCs knocking on his door? Maybe this guy will buy a Think with his insurance settlement.
  

• Bio-butanol developer Gevo emerged from stealth mode to announce a financing by new investor Virgin Fuels and existing investor Khosla Ventures. Jonathan Shieber at VWire reported today that the round was an "under $10mm" Series B [7/19 edit: corrected the quote]. The financing is intended to help the company "whip it good" into a pilot plant stage. If toxicity and cost issues can be addressed, biobutanol has a lot of potential as a gasoline replacement with better energy density, transportability and other benefits versus ethanol.

• Meanwhile, the backlash against corn-based ethanol is starting to ramp up. Many industry participants apparently expect that cellulosic ethanol will be able to save the day. But alternative sources of sugars are also being increasingly turned to. Because of all of the policy implications in the U.S., it will be interesting for cleantech investors to watch how this debate continues to evolve. Meanwhile, biodiesel continues to get little attention, but is looking poised for an uptake.
  

Other news and notes: Cleantech venture investments in China more than doubled last year, according to the Cleantech Group... Finally, a "cooler" use for cubic zirconia.