CMEA pulls plug on $500M late-stage cleantech fund
CMEA Capital has decided against raising a new $500 million fund to back late and growth-stage cleantech companies, Dow Jones VentureWire reported earlier today. The news is interesting for two reasons: 1) It suggests a shift in strategy for CMEA, one of the largest investors in the green space, according to yesterday’s Greentech Media report on the sector; and 2) It may be further proof of cleantech’s rebound from the downturn — venture firms like… Continue Reading
Chevron chips in $25M for biofuel company LS9
LS9, perhaps the company to watch synthesizing biofuels and chemicals from organic feedstocks like switchgrass, has brought in $25 million in a new round of capital from Chevron Technology Ventures, Khosla Ventures, Lightspeed Venture Partners and Flagship Ventures.
This is the second big win, the South San Francisco company has had recently. In May, it also landed a deal with corporate giant Procter & Gamble to make consumer chemicals from renewable and sustainable sources. Right now, its… Continue Reading
Shell buys bigger stake in biofuel enzyme co. Codexis
In an effort to commercialize next-generation biofuels by 2013, Royal Dutch Shell has taken a bigger stake in Redwood City, Calif. biofuel technology company Codexis. The two companies struck a five-year deal in 2007 that infused Codexis with $30 million and gave Shell a seat on its board. This new deal is said to be roughly the same and nabs Shell another seat.
Codexis doesn’t actually make the biofuels itself. Rather, it engineers the super enzymes… Continue Reading
Roundup: iRobot co-founder moves to new robot venture, botnets surge, IPOs come and go, and more
Roomba technologist moves to new robotic venture — Rodney Brooks, chief technology officer and co-founder at iRobot, is moving on to a new company called Heartland Robots, which will work to “rehumanize and revitalize manufacturing.”
Zombie networks surge ahead — Botnet networks of infected computers have tripled in size over the past three months, according to a tracker, the Shadowserver Foundation.
Newspapers giving business to ad startups — Faced with falling revenues, some of the biggest dailies, including the… Continue Reading
Amyris joins forces with Crystalsev to produce sugary fuels
A combination of rising food prices and environmental concerns has helped spark a backlash against biofuels. Once viewed as a key component of any successful climate mitigation strategy, biofuels — particularly those derived from food crops, such as corn ethanol — have seen their popularity wane in recent months as scientists and policymakers alike have come to realize that their costs may far outstrip their perceived benefits.
Brazil has arguably become the poster child for biofuel… Continue Reading
Tuesday Roundup: Intel reports good quarter, Codexis files for IPO, cell phone companies rally around LTE
World’s biggest chip maker qualms tech market fears: Intel reported solid first-quarter results in the face of a weak U.S. economy. The company reported revenue was up 9 percent to $9.7 billion in the quarter ended March 31 while net income was $1.4 billion, down 12 percent due to a write-down but in line with expectations. Some growth is coming from strong server-chip sales as Google and others build massive data centers for cloud computing, said… Continue Reading
Biofuel action: Range Fuels breaks ground, Innovation Fuels gets investment, Codexis extends Shell collaboration
Three significant developments today in alternative fuels:
–Range Fuels broke ground on one of the first cellulosic ethanol plants;
–Innovation Fuels took $15.5 million for a New Jersey biodiesel facility; and
–Codexis and Royal Dutch Shell decided to extend their research collaboration for another five years.
We reported in March on a $76 million Federal government grant that Range won preliminary approval for. That grant was part of a $385 million package set aside for six companies.
The Fed has… Continue Reading
Life sciences briefing: Monday, Nov. 5, 2007
Featured companies: AvidBiotics, Codexis, Imalux, Myomo
UPDATED: Expanded items on AvidBiotics and Codexis.
AvidBiotics raises $1M for anti-infective drugs — AvidBiotics, a South San Francisco, Calif., biotech developing a new generation of antibacterial proteins, raised $1 million in a first funding round, VentureWire reports (subscription required). The company didn’t disclose its investors.
AvidBiotics is using a new type of protein engineering to develop molecules that can successfully attack drug-resistant bacterial. That engineering system relies upon a “diversity generator” that produces… Continue Reading
LS9 takes $15M to synthesize petroleum alternative
LS9, a Silicon Valley startup that hopes its technology may one day help replace petroleum, has taken $15 million more in funding.
The San Carlos, Calif. company uses synthetic biology to modify microorganisms in order to produce high-energy fuels, including to power cars (see our previous coverage).
According to the company’s own projections, it is two to three years from commercializing and selling a synthetic fuel. LS9 recently recruited president Robert Walsh, who brings several decades of… Continue Reading
Codexis acquires BioCatalytics to bolster enzyme manufacture
Redwood City, Calif.-based Codexis, a developer of enzyme-based manufacturing processes, said it acquired BioCatalytics, a Pasadena, Calif., producer of enzymes that speed chemical reactions. Terms of the deal weren’t disclosed; the release is here.
Both companies are focused on “biocatalysis,” a technique for using bioengineered and natural enzymes to accelerate chemical reactions, often improving their cleanliness and efficiency. Industry estimates suggest the enzyme market will expand to $2.2 billion in annual sales by 2010, up from… Continue Reading
Codexis, a biocatalyst research company, signs “multimillion” dollar deal with Merck
Codexis, a biocatalyst research company based in Redwood City, Ca., has signed a significant licensing deal with Merck & Co.
See the statement here. The terms weren’t disclosed, but the company tells VentureWire it is in the multimillions of dollars (sub required).