Royal Dutch Shell is taking an equity stake, for an undisclosed amount,in Madison, Wisc., biofuel maker Virent Energy Systems.
UPDATE 06.09.10: Virent Energy raised $46.4 million in third-round funding from Shelland Cargill Ventures, PeHUB reports. The company previously raised nearly $40 million.
Virent’s “BioForming” technology converts plant sugars directly into gasoline instead of ethanol, making it usable in standard gasoline engines. Also, unlike traditional ethanol, Virent’s biofuel could eliminate the need for specialized infrastructure, engine modifications and blending equipment required for mixing gasoline with more than 10 percent ethanol.
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