Business Green: Biofuel technology is an "innovative solution to one of the world's biggest problems", says Google
Google has again beefed up its position as one of the world's leading investors in innovative renewable energy technologies, shelling out an undisclosed sum as part of the latest funding round for
California-based start-up CoolPlanetBiofuels.
The investment, which follows an $8m funding round last year led by North Bridge Venture Partners an including GE Energy Financial Services, will support CoolPlanetBiofuels efforts to produce a biofuel made from biomass such as grass and wood chips, which the company claims will result in a "negative carbon fuel" that removes carbon from the atmosphere.
"The company has come up with an innovative solution to one of the world's biggest problems," said Wesley Chan, partner at Google Ventures. "The technology is a win-win as the company is developing a sustainable and renewable energy source that also helps reduce the amount of carbon in the atmosphere."
Read more : http://www.guardian.co.uk/environment/2011/mar/21/biofuels-google
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