Luca shovels in $76M for coal-to-gas technology
Coal is no longer the dirty word it once was. And there’s no better indication than the $75.9 million recently pulled in by Luca Technologies, a company that engineers microbes to produce methane gas from coal. This brand of innovation could be good news all around as the incoming presidential administration emphasizes clean-burning energy despite cheap surpluses in the U.S. coal supply.
The round, which will be used to acquire new coal beds in Wyoming’s Powder… Continue Reading
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… Continue Reading