Shell and Cargill increase Virent Energy's funding beyond expectations in its third round.
The group of strategic investors behind Virent Energy Systems has pumped a further $46.4m into the US-based renewable energy company.
Virent successfully started a production unit to convert sugar into transport fuel in March and the series C money from Anglo-Dutch oil major Shell and crop company Cargill will be used to expand this facility.
The investment agreement also expands an existing research and development collaboration with Shell for the production of bio-diesel fuel, as well as biogasoline, and…
