Cobalt Biofuels Raises $25 Million to Commercialize Biobutanol

Jose Michael

California-based Cobalt Biofuels has raised $25 million in equity to accelerate the commercialization of its cost-effective biochemical process for biobutanol production. Cobalt says that the advantages of its process are based on advances in microbial strain improvement, fermentation reaction management, and separation technology.

The Series C equity round was co-led by LSP and Pinnacle Ventures and included both new and existing investors. The Series C round had strong participation from Cobalt Biofuels’ existing institutional investors, including Pinnacle Ventures, Vantage Point Venture Partners, The Malaysian Life Sciences Capital Fund and @Ventures. New investors included LSP and Harris and Harris. Fouad Azzam, General Partner of LSP, will be joining the Board.

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