Cool Planet receives $100 million investment

Cool Planet Energy Systems has achieved its targeted $100 million (€73 million) Series D financing.

With further contributions coming in from existing strategic and venture investors, along with substantially extending its investor base, the carbon-negative technology company successfully reached its $100 million goal.

Over 50% of equity funds given by new investors came from outside the US.

On February 26 this year, Cool Planet opened its first biofuel production plant in Louisiana. The resource is expected to produce 10 million gallons of renewable fuel and petrol blendstocks per year.

Howard Janzen, CEO of Cool Planet, says: 'We are very pleased with the strong interest and support from investors that enabled us to reach our $100 million funding objective. A significant number of new international investors with both a financial and strategic interest came into the financing.

North Bridge Venture Partners and Concord Energy were leading investors, with funding also sent from existing investors BP, Google Ventures, Energy Technology Ventures (GE, ConocoPhillips, and NRG Energy) and the Constellation division of Exelon.