Seattle Biodiesel Closes $2 Million Financing; New CEO with Package
18 July 2005
Seattle Biodiesel has closed a $2 million investment from strategic investors including Ignition Venture Partner and the new Chairman and CEO of Seattle Biodiesel, Martin Tobias.
Seattle Biodiesel is the first company in the Pacific Northwest to open and operate a commercial scale (more than 5 million gallons a year) and an American Society of Testing and Materials (ASTM)-certified biodiesel refinery.
Ignition Partners was founded in 2000 by a group of former execs from Microsoft and McCaw. Tobias spent six years at Microsoft and four years at Loudeye—one of the leading providers of enabling solutions for Internet audio and video—as CEO before joining Ignition.
As a venture capitalist I’ve reviewed over 1,200 business plans and none have had the impact on me as what I saw from Seattle Biodiesel. I firmly believe the world has enough inventors solving software problems, but there aren’t enough people solving this country’s energy dependency on foreign oil. John Plaza [the founder] and his management team have done an exceptional job bringing Seattle Biodiesel to life and now it’s time to take it to the next level.—Martin Tobias, CEO Seattle Biodiesel
A nice profile of Seattle Biodiesel and Tobias is here, from the Seattle Times.
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