Carbon dioxide-to-fuel technology developer Algenol has secured another $25m from BioFields, the biofuel producer that invested $40m in the company last year.
US-based Algenol, a company developing technology to turn carbon-dioxide emissions into fuel, raised $25m from biofuel producer BioFields.
The investment follows a $40m investment in Algenol by BioFields. In 2011, Algenol raised $93.5m from India-based conglomerate Reliance Industries.
The company has also obtained a $25m grant from the US Department of Energy and $10m from Lee County, Florida in 2009.
Algenol’s technology converts CO2 emissions into fuels such as ethanol, gasoline, diesel and jet fuel. It will use the funding…
