Plas2Fuel captures $4.3M for waste-to-fuel technology
Plas2Fuel, maker of equipment that produces synthetic crude oil, has raised $4.25 million in a first round of funding for the commercial rollout of its products. Based in Kelso, Wash., the company sells vessels for converting plastic waste into fuel and manages the sale of what is produced to oil refineries.
Provided by Chrysalix Energy Venture Capital, Saffron Hill Ventures and Reference Capital Management, the funding round fell a little short of the company’s $5 million… Continue Reading
Cree settles patent suit with LED co. Bridgelux
Efficient lighting company Cree has settled its patent infringement lawsuit with Sunnyvale, Calif. LED maker Bridgelux after two years of litigation. Not only must Bridgelux pay to license the technology from Cree — technology that increases the efficiency of LED lighting systems — but it also signed an agreement to make Cree one of its major suppliers.
The suit encompassed six different patents concerning LEDs (long-lasting lighting systems that cut energy use up to 85 percent… Continue Reading
Brammo raises $10M for electric motorcycles
It may not sound as impressive as Fisker Automotive’s whopping $65 million haul, but Brammo’s $10 million first round, led by Chrysalix Energy Venture Capital, Best Buy Venture Capital (yes, you read that correctly) and others, is nothing to sneeze at. The Ashland, Ore.-based developer of the Enertia, a lightweight GPS-equipped, web-enabled electric bike that gets 35-45 miles per charge, says that the proceeds will be enough to allow it to go into production and… Continue Reading
H2scan raises $4M for hydrogen monitoring technology
H2scan, a Valencia, Calif.-based maker of hydrogen sensing devices, has received $4 million in fourth round funding from Chrysalix Energy Venture Capital, H5 Capital, Tri-Strip Associates, TGB Partners and Ravinia Venture Fund. Members of the Tech Coast and Pasadena Angels also joined the round; all but TGB Partners are returning investors.
H2scan will use the proceeds to expand its R&D, production and sales and marketing operations and to purchase additional equipment. The company is leveraging its… Continue Reading
BridgeLux, another clean-light company — but faces lawsuit
BridgeLux, maker of chips for “light emitting diodes” that are environmentally cleaner lighting sources than standard lightbulbs, has raised a $23 million third round of funding, according to VentureWire (subscription required).
It joins the rush of other LED companies, including D.lightdesign (coverage), Quanlight (coverage), Intematix (raised $25 million from DFJ and Crosslink), Group IV Semiconductor ($8.2M from Khosla Ventures and BDC Capital). Yet another company, publicly traded Cree, has sued BridgeLux for patent infringement.
The BridgeLux round… Continue Reading