VCs still investing in improving gasoline production, despite global warming
Rive Technology is the latest company backed by venture capitalists to improve the production process of gasoline, despite widespread concern about global warming caused by gasoline consumption.
Rive improves the catalytic cracking process used to convert oil into gasoline, and has raised $8.37 million in a first round of capital, according to VentureWire (subscription required).
The Cambridge, Mass. company got the funding from Charles River Ventures, Advanced Technology Ventures, and undisclosed seed investors.
Silicon Valley’s Kleiner Perkins, a well-known venture capital firm, has also backed oil/gasoline companies.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.












