Earthanol, Inc., a developer of waste-to-ethanol production plants, has received a $7.1 million investment from @Ventures, the venture capital arm of CMGI, Inc.(Nasdaq: CMGI), Nth Power, Sail Venture Partners, and Calvert Funds.
Earthanol plans to use proprietary technologies to convert agricultural and industrial waste products into biofuels. The company is currently developing projects based on dairy industry waste and cellulosic biomass materials. Earthanol’s management team has extensive experience in the development and operation of energy projects, including eight biomass-based power projects in North America.
“In order to fully realize the promise of biofuels, it is critical that the industry move beyond corn-based ethanol”, said Matt Horton, a Principal with @Ventures. “By using waste materials as a feedstock for biofuels production, Earthanol avoids many of the costs and limitations associated with corn-based ethanol.”
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