Inventure Chemical, algae processor for biofuel, raises $2M

August 20, 2007 | Matt Marshall

Inventure Chemical, a Gig Harbor, WA company that processes algae so that it can be converted to biofuel, said it has raised $2 million in a first round of funding.

The capital will be used to expand the company’s test production site and to further develop its algae to jet fuel processes, it said in a statement on its Web site (it is a Flash site, so there is no link).

The company did not disclose its investors, but VentureWire (subscription required) has since followed up with the company, and lists them: Cedar Grove Investments, Brighton Jones Wealth Management and undisclosed angel investors

Next Story: Weekend update: The spinning of Baby Einstein, multiple-med confusion, and more
Previous Story: Green building co., Serious Materials, raising $40M plus

Twitter

Facebook

Google Buzz

Digg

StumbleUpon

Delicious

Google

More...

Tags: deal

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.