GreenFuel Technologies Corporation, a privately held company providing emissions-to-biofuel conversion services to power plants and industrial facilities, has secured $2.38 million in bridge funding from a syndicate of investors.
The financing will be used to help the company continue on its development path as it secures a Series B round of investment capital.
“If GreenFuel’s technology can be economically deployed at utility-sized power plants on a large scale, it will be one of the more important innovations in both energy supply and air pollution reduction in recent years,” commented Jim Levitt, investor and conservation and land use expert.
reenFuel’s mission is to utilize its suite of proprietary advanced biotechnologies to profitably transform exhaust gases from power plants and industrial sites into renewable biofuels, worldwide. The company’s patent-pending system is linearly scalable, produces no harmful byproducts, and is compatible with untreated water supplies. GreenFuel is presently negotiating facility installations domestically, as well as internationally. Funded in part by lead investor Access Industries, a global private equity investment group, GreenFuel is headquartered in Cambridge, MA.
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