SG Biofuels, Inc., a bioenergy crop company developing and producing elite seeds of Jatropha, has completed a $9.4-million Series A financing with proceeds from Flint Hills Resources, a privately held company based in Kansas, Life Technologies Corporation, a biotechnology tools company based in Carlsbad, Calif., and participation from existing investors.
The financing will support the company's efforts to advance Jatropha as a high-yielding, low cost feedstock for diesel, jet fuel and petrochemicals.
Anthony Sementelli, chief financial officer of Flint Hills Resources, and Nathan Wood, vice president of Life Technologies’ Genomics Technologies business segment, have joined SG’s board of directors.
Earlier this year, SG Biofuels and Life Technologies formed a strategic alliance to further accelerate the development of Jatropha through use of Life Technologies’ biotechnology and synthetic biology tools. The companies recently announced they have completed the sequence of the Jatropha genome. (Earlier post.)