Cobalt Technologies Raises $20 Million To Make Plant-Based Jet Fuel And Paint
May 02, 2011 at 17:50 PM EDT
Cobalt Technologies , a cleantech startup in Mountain View that develops and makes biobutanol, closed a $20 million series D funding round, the company revealed today. The investment arm of Parsons & Whittemore (the Whittemore Collection) led the round, joined by all of Cobalt's earlier venture backers: Pinnacle Ventures, Malaysian Life Sciences Capital Fund, VantagePoint Capital Partners, Life Sciences Partners (LSP), @Ventures, Harris & Harris and Burrill and Company. Primarily, Cobalt Technologies turns non-food crops into "n-butanol," which is used to make a variety of paints and coatings, as well as renewable chemicals used to make jet fuel...