LUCA raises $20M more to convert dirty coal into natural gas
LUCA Technologies, a Golden, Colo. company developing technology to convert dirty coal into natural gas, has raised $20 million more in financing.
The company joins a host of others working on similar conversion technologies. LUCA’s technology is different in that it works underground, seeding changes to micro-organisms within hydrocarbon deposits like coal, which stimulates conversion into methane.
Silicon Valley venture firm Kleiner Perkins and Boston’s Oxford Bioscience Partners led the investment, according to VentureWire (subscription required). The company last year got $3 million in a first round of funding from BASF Venture Capital America.
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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.












