Second generation pilot planned for North Carolina
Israel-based biofuels technology company HCL CleanTech will open its pilot plant and corporate office in Oxford, North Carolina, US.
HCL CleanTech raised $5.5 million (€4.1 million) in May 2009 in its Series A financing led by US venture capital firms Burrill & Co. and Khosla Ventures.
Other investors included the company’s lead seed investor, Zohar Gilon, and the company’s founders, industrial chemical research scientists Avraham Baniel and Ari Eyal.
The proceeds would fund more research and development in Israel and the construction of a pilot plant in the US to be completed in 2010.
HCL CleanTech has developed a process for the conversion of woody biomass into fermentable sugars and advanced biofuels that is more efficient and cheaper than other popular biofuel conversion technologies.
A study by a US chemical engineering company and commissioned by HCL CleanTech indicates that costs per gallon of ethanol manufactured using HCL CleanTech’s technology would be less than $1
HCL CleanTech raised $5.5 million (€4.1 million) in May 2009 in its Series A financing led by US venture capital firms Burrill & Co. and Khosla Ventures.
Other investors included the company’s lead seed investor, Zohar Gilon, and the company’s founders, industrial chemical research scientists Avraham Baniel and Ari Eyal.
The proceeds would fund more research and development in Israel and the construction of a pilot plant in the US to be completed in 2010.
HCL CleanTech has developed a process for the conversion of woody biomass into fermentable sugars and advanced biofuels that is more efficient and cheaper than other popular biofuel conversion technologies.
A study by a US chemical engineering company and commissioned by HCL CleanTech indicates that costs per gallon of ethanol manufactured using HCL CleanTech’s technology would be less than $1
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