Blume Distillation, which produced biorefinery equipment for bioethanol and other ethanol based end products, announced a $1 million Series B round led by GreenTech seed, and VC fund CC3IC (Climate Change Investigation Innovation and Investment Company). This raise follows a $2.2 million Series A back in March of 2013.
The California based company reports in their press release that they are engaged in the design and development of turnkey biorefinery equipment that produces alcohol-based biofuels and products from waste, surplus resources, and crops. The company’s reports that their current systems produce between 250,000 to 5 million gallons of bioethanol or alcohol products per year.
“There are currently over 300 million fossil fuel burning cars on the road in the US alone. There are also more than 3 billion people around the world cooking and heating homes and huts over open wood and biomass fires.” said CEO David Blume “[We are] one of the few companies with solutions that can help positively transform these energy use applications immediately.”
Blume Distillation reports that proceeds from the investment will go to R&D and expand sales and marketing.
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