Woodland Biofuels raises C$1.25M round for next-gen ethanol
Woodland Biofuels is a cellulosic ethanol company based in Toronto, which says that it has a process that it calls “significantly more efficient than traditional ethanol production and its cellulosic competitors”.
The company uses a thermo-chemical process to break down and gasify materials including wood and sewage, then performs further processing to produce ethanol. A similar approach is used by a number of other companies, including the press darling Coskata, but none have yet proven themselves cost-effective at scale.
The funding was provided by Investeco Capital. Although the amount was not disclosed in the release, it was $1.25 million (Canadian) according to Clean Break, which also says Woodland is looking to expand the round to $3.25 million. The company has also received a C$9.8 million grant from Sustainable Development Technology Canada.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.