Plug-In Hybrid Electrical Vehicle

Cambridge, Massachusetts -- GreenFuel Technologies, a privately held, Cambridge-based company that is developing algae farm technologies for recycling CO2 emissions, has raised $13.9 million in a venture capital deal, which was led by Access Private Equity, Draper Fisher Jurvetson, and Polaris Venture Partners. GreenFuel is developing high-yield algae farm technologies to profitably recycle industrial carbon dioxide and produce feed, food, and fuel ingredients. The company seeks partnerships with power plants, cement plants, corn ethanol plants, and other industrial facilities to build algae farms that can mitigate CO2 emissions. GreenFuel has completed pilot installations of its technology at facilities in Arizona, Kansas, Louisiana, Massachusetts, New Mexico, and New York. GreenFuel said it intends to use these funds to prepare for algae farm technology development and scaling projects during 2008.


http://www.greenfuelonline.com/press.html