The funding will go toward the company’s first cellulosic ethanol biorefinery, where the company claims it can produce 40 percent more ethanol than others.
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Shortfall should drive the price of cellulosic biofuel to nearly $3 per gallon and give fledgling producers some breathing room.
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The Khosla Ventures-backed cellulosic ethanol startup hires an exec from Big Oil as CEO.
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Biofuels startup drums up first round of funding and focuses on naturally occurring “Q-microbe” as key to cheaper, more efficient cellulosic ethanol production.
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Khosla-funded startup’s Georgia plant a test ground for cellulosic ethanol.
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