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