Mercury News. Gevo, a spinoff from Caltech that is targeting the production of bio-butanol and other advanced biofuels from a variety of biomass feedstocks, has closed a $17-million third round of funding.
New investors include life sciences merchant bank Burrill & Co. and the Malaysian Life Sciences Capital Fund, who joined Khosla Ventures and Virgin Green Fund. The biofuel start-up has already raised more than $30 million since the beginning of last year.
Gevo is engineering suitable host organisms and is developing a proprietary process technology to convert cellulosic crops and waste into advanced alochol-based liquid fuels such as isobutanol and butanol.